Lupin surges on receiving USFDA’s approval for Brivaracetam Tablets

Lupin Ltd. | Pharmaceuticals & Drugs | Healthcare | BSE: 500257 | NSE: LUPIN

21 Dec 2022 Evaluate

Lupin is currently trading at Rs. 750.75, up by 25.55 points or 3.52% from its previous closing of Rs. 725.20 on the BSE.

The scrip opened at Rs. 725.55 and has touched a high and low of Rs. 757.25 and Rs. 722.60 respectively. So far 29534 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 971.30 on 13-Jan-2022 and a 52 week low of Rs. 583.05 on 25-May-2022.

Last one week high and low of the scrip stood at Rs. 762.95 and Rs. 718.00 respectively. The current market cap of the company is Rs. 34211.64 crore.

The promoters holding in the company stood at 47.11%, while Institutions and Non-Institutions held 41.44% and 11.45% respectively.

Lupin has received approval from the United States Food and Drug Administration (USFDA) for its Abbreviated New Drug Application (ANDA) for Brivaracetam Tablets, 10 mg, 25 mg, 50 mg, 75 mg, and 100 mg, a generic equivalent of Briviact Tablets, 10 mg, 25 mg, 50 mg, 75 mg, and 100 mg, of UCB Inc.

The product will be manufactured at Lupin’s facility in Nagpur, India. Brivaracetam Tablets, 10 mg, 25 mg, 50 mg, 75 mg, and 100 mg, (RLD Briviact) had estimated annual sales of $420 million in the U.S. (IQVIA MAT September 2022).

Lupin is an innovation led transnational pharmaceutical company producing, developing and marketing a wide range of branded and generic formulations, biotechnology products and active pharmaceutical ingredients (APIs) globally.