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Lupin launches generic version of doxycycline capsules in the US

10 Apr 2024 , 02:28 PM

Lupin shares rose 1% in early trading on April 10 after the firm introduced its first generic version of Oracea (doxycycline capsules) in the United States.

At around 1.54 PM, Lupin was trading 0.40% higher at ₹1,612 per piece, against the previous close of ₹1,605.65 on NSE. The counter rose to an intraday high of ₹1,643.30.

The company announced the introduction of the initial generic edition of Oracea (40 mg doxycycline capsules) in the United States, subsequent to obtaining approval from the United States Food and Drug Administration (USFDA), according to its press release.

Doxycycline capsules are used to treat inflammatory rosacea lesions (papules and pustules) in adults.

The business is recalling 26,352 bottles of Rifampin capsules, which are used to treat all kinds of TB, from the US market because they were found to be a sub-potent medicine.

Lupin's US branch sold the medicine, which was developed at the company's Aurangabad factory. The recall began on March 21. The USFDA classified this as a Class II recall.

The business got Form 483 from the USFDA in March, with one observation for its Aurangabad plant, following an inspection from March 6 to March 15.

Lupin announced a 299.6% YoY increase in net profit to ₹613.1 Crore for the third quarter ended December 31, 2023. In the same quarter previous year, Lupin made a net profit of ₹153.4 Crore.

Revenue from operations climbed by 20.2% to ₹5,197.4 Crore, up from ₹4,322.2 Crore in the previous fiscal year. EBITDA increased by 95% to ₹1,037.9 Crore in the third quarter of the current fiscal year, up from ₹532.2 Crore in the previous year.

For feedback and suggestions, write to us at editorial@iifl.com

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