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Lupin rises as arm receives USFDA approval for Generic Plan B Tablets

25 Jan 2013 Evaluate

Lupin is currently trading at Rs. 590.05, up by 0.90 points or 0.15% from its previous closing of Rs. 589.15 on the BSE.

The scrip opened at Rs. 592.00 and has touched a high and low of Rs. 594.10 and Rs. 590.05 respectively. So far 2,205 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 631.90 and a 52 week low of Rs. 412.15.

The current market cap of the company is Rs. 26,392.00 crore.

The promoters holding in the company stood at 46.85% while Institutions and Non-Institutions held 43.40% and 9.75% respectively.

Pharma major, Lupin’s subsidiary - Lupin Pharmaceuticals Inc (collectively Lupin) has received final approval for its Levonorgestrel Tablets USP, 0.75 mg (Rx/OTC) from the United States Food and Drugs Administration (US FDA) to market a generic version of Teva Branded Pharmaceutical Products R&D, Inc.’s Plan B Tablets, 0.75 mg.

Lupin’s Levonorgestrel Tablets Levonorgestrel 0.75mg tablets is a progestin?only emergency contraceptive, indicated for prevention of pregnancy following unprotected intercourse or a known or suspected contraceptive failure.

Plan B Tablets had annual US sales of approximately $81.1 million (IMS MAT Sept 2012 sales).

Peers
Company Name CMP
Sun Pharma. Inds. 1860.00
Dr. Reddys Labs. 1250.00
Cipla 1383.00
Lupin 2060.00
Zydus Lifesciences 1195.20
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