Lupin trades in green on bagging USFDA approval
DSIJ Intelligence / 23 Nov 2016
Lupin received tentative approval for its Abacavir Sulfate and Lamivudine tablets, 600 mg/300 mg from USFDA to market generic version of ViiV Healthcare Company’s Epzicom tablets, 600 mg/300 mg.
Lupin received tentative approval for its Abacavir Sulfate and Lamivudine tablets, 600 mg/300 mg from USFDA to market generic version of ViiV Healthcare Company’s Epzicom tablets, 600 mg/300 mg. Epzicom tablets have US sales of USD 426 million (Rs 2,917 crore) as per IMS MAT September 2016.
Abacavir Sulfate and Lamivudine tablets 600 mg/300 mg in combination with other antiretroviral agents is indicated for the treatment of human immunodeficiency virus type 1 (HIV-1) infection.
On the financial front, Lupin’s revenue increased 16.19 per cent to Rs 2,951 crore in Q2FY17, as compared to the same period in the previous financial year. The company’s EBITDA too rose 28.26 per cent to Rs 923 crore in Q2FY17 on a yearly basis. Its net profit also soared 34.3 per cent to Rs 653 crore in Q2FY17 as compared to the same period in the previous financial year.
The share price of Lupin increased 1.52 per cent on the bourses in early trades and is trading at Rs 1,434.65 on intraday basis.