Lupin receives FDA approval for generic Seroquel XR Tablets

India Infoline News Service | Mumbai | May 19, 2017 08:53 IST

Pharma Major Lupin Limited (Lupin) announced that it has received final approval for its Quetiapine Fumarate Extended-Release Tablets, 50 mg, 150 mg, 200 mg, 300 mg and 400 mg from the United States Food and Drug Administration (FDA).

Pharma Major Lupin Limited (Lupin) announced that it has received final approval for its Quetiapine Fumarate Extended-Release Tablets, 50 mg, 150 mg, 200 mg, 300 mg and 400 mg from the United States Food and Drug Administration (FDA) to market a generic version of AstraZeneca Pharmaceuticals LP’s Seroquel XR Tablets 50 mg, 150 mg, 200 mg, 300 mg and 400 mg.
 
Lupin’s Quetiapine Fumarate Extended-Release Tablets, 50 mg, 150 mg, 200 mg, 300 mg and 400 mg are the AB rated generic equivalent of AstraZeneca Pharmaceuticals LP’s Seroquel XR® Tablets 50 mg, 150 mg, 200 mg, 300 mg and 400 mg.
 
It is indicated for the treatment of schizophrenia; acute manic or mixed episodes in bipolar I disorder alone or as an adjunct to lithium or divalproex; acute depressive episodes in bipolar disorder; maintenance treatment of bipolar I disorder, as an adjunct to lithium or divalproex and as an adjunctive therapy to antidepressants for the treatment of major depressive disorder.

Seroquel XR® Extended-Release Tablets had US sales of USD 1.27 billion (IMS MAT March 2017).
 
Stock view:
 
Lupin Ltd ended at Rs 1304.9, up by Rs 7.85 or 0.61% from its previous closing of Rs 1297.05 on the BSE.
 
The scrip opened at Rs 1297 and touched a high and low of Rs 1320 and Rs 1283.3 respectively. A total of 1204470(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 58938.56 crore.
 
The BSE group 'A' stock of face value Rs 2 touched a 52 week high of Rs 1750 on 29-Jul-2016 and a 52 week low of Rs 1242.5 on 09-May-2017. Last one week high and low of the scrip stood at Rs 1320 and Rs 1245.6 respectively.
 
The promoters holding in the company stood at 46.69 % while Institutions and Non-Institutions held 41.24 % and 12.06 % respectively.
 
The stock traded below its 200 DMA.

BSE 1,142.85 [23.15] ([1.99]%)

***Note: This is a NSE Chart

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