Shares of Lupin
were trading 2% higher on Friday after the company launched Testosterone Gel, 1.62% (20.25 mg/1.25 g pump actuation), having received approval from the United States Food and Drug Administration (FDA).
"Lupin's Testosterone Gel, 1.62% (20.25 mg/1.25 g pump actuation), is the generic equivalent of AbbVie Inc's AndroGel, 1.62%," the company said in a press note to the exchanges on Friday.
It is indicated for replacement therapy in males for conditions associated with a deficiency or absence of endogenous testosterone- Primary hypogonadism (congenital or acquired) and Hypogonadotropic hypogonadism (congenital or acquired), the company added.
As per IQVIA MAT data released in December 218, Testosterone Gel, 1.62% (20.25 mg/1.25 g pump actuation) had annual sales of ~$893mn the US.
Lupin Ltd's share price is currently at Rs828.40, up by Rs19.55 or 2.42%, from its previous close of Rs808.85 on the BSE.
The scrip opened at Rs802.05 and has touched a high and low of Rs830 and Rs802.05, respectively. So far, 25,22,995 (NSE+BSE) shares have been traded on the counter. The current market cap of the company is Rs36,599.95cr.