Lupin shares zoom: Shares of leading pharmaceuticals company Lupin advanced 1.54 per cent to hit a 52-week high of Rs 2,312 on the BSE during the intra-day deals on Wednesday. Meanwhile, on the NSE, the pharma stock jumped 1.52 per cent to its 52-week high of Rs 2,312.
The northward move in the stock price is attributed to the company’s announcement of receiving approval from the United States Food and Drug Administration (US FDA) for its product. Lupin, earlier on September 4, 2024, informed the exchanges about the launch of Mirabegron Extended-Release Tablets, 50 mg, in the United States, after having received approval from the US FDA. The pharma company further stated that Mirabegron Extended-Release Tablets, 50 mg, is a generic equivalent of Myrbetriq® Extended-Release Tablets, 50 mg, by Astellas Pharma Global Development, Inc.
“Mirabegron Extended-Release Tablets, 50 mg had estimated annual sales of USD 1,600 million in the U.S. (IQVIA MAT July 2024),” Lupin said in the filing.
Lupin Limited is a global pharmaceutical leader headquartered in Mumbai, India, with products distributed in over 100 markets. Lupin specialises in pharmaceutical products, including branded and generic formulations, complex generics, biotechnology products, and active pharmaceutical ingredients. The company enjoys a strong position in India and the U.S. across multiple therapy areas, including respiratory, cardiovascular, anti-diabetic, anti-infective, gastrointestinal, central nervous system, and women’s health.
The pharmaceuticals company boasts a market capitalisation of Rs 1,04,797.57 crore on the BSE and Rs 1,04,731.43 crore on the NSE, as of September 5, 2024.
The company’s shares have yielded a return of 74.72 per cent year-to-date, while the Sensex, on the other hand, has advanced 13.72 per cent in 2024.
At around 2:34 PM., shares of Lupin were trading at Rs 2,294.50, up 0.77 per cent from their previous close of Rs 2,277.05 on the BSE. Nearly 0.66 lakh equity shares of the pharma company worth around Rs 15 crore exchanged hands on the BSE.
Meanwhile, on the NSE, the stock was trading at Rs 2,294.55, up 0.76 per cent from its previous close of Rs 2,277.25. Nearly 13.46 lakh shares of Lupin, worth around Rs 309.27 crore, exchanged hands on the NSE today so far.
First Published: Sep 05 2024 | 2:55 PM IST
