Lupin gains on US FDA nod for leukemia treatment drug

29 Aug 2022 , 03:12 PM

Following the announcement, the scrip advanced 1.23% to currently trade at Rs 660.85 on the BSE. The drug maker will market a generic equivalent of Sprycel Tablets of Bristol-Myers Squibb Company. Pharmascience Inc. is one of the largest pharmaceutical manufacturers in Canada specialized in complex generics. It delivers high-quality medicines globally in over 50 countries worldwide.&8239;&8239; Dasatinib is used in the treatment of blood cancer (chronic myeloid leukemia). Dasatinib Tablets (RLD Sprycel) had estimated annual sales of $1,569 million in the U.S. (IQVIA MAT June 2022). Lupin is an innovation-led transnational pharmaceutical company. The company develops and commercializes a wide range of branded and generic formulations, biotechnology products, and APIs in over 100 markets in the U.S., India, South Africa, and across the Asia Pacific (APAC), Latin America (LATAM), Europe, and Middle East regions. The drug maker reported a net loss of Rs 89.1 crore in Q1 FY23 as against a net profit of Rs 542.5 crore in Q1 FY22. Total revenue from operations declined 12.3% YoY to Rs 3,743.8 crore during the quarter. Powered by Capital Market – Live News