Lupin Hits 52-Week High as FDA Greenlights Febuxostat Tablets for Gout Treatment in the U.S.

19 Jan 2024 , 10:57 AM

Lupin Ltd's shares hit a fresh 52-week high after obtaining approval from the U.S. FDA for Febuxostat Tablets on January 18. The approval allows Lupin to market a generic equivalent of Uloric® Tablets by Takeda Pharmaceuticals U.S.A.

Febuxostat Tablets, with indications for managing hyperuricemia in adult gout patients, will be manufactured at Lupin's Pithampur facility in India.

Lupin's current market price on BSE stands at Rs 1430.00 per share, reflecting an intraday gain of 0.33%. The stock previously hit a 52-week high on January 18, accompanied by a notable surge in trading volume (more than 2.17 times). Lupin's market capitalization is Rs 65,293.83 crore.

According to Lupin's press release dated January 18, 2024, Febuxostat Tablets (40 mg and 80 mg) are designed for adult gout patients with an inadequate response to allopurinol or intolerance to it.

The estimated annual sales of Febuxostat Tablets (RLD Uloric®) in the U.S. were USD 27 million as of IQVIA MAT November 2023.

Lupin, headquartered in Mumbai, India, is an innovation-led pharmaceutical company operating globally. The company focuses on developing and commercializing branded and generic formulations, biotechnology products, and APIs in various markets worldwide, including the U.S., India, South Africa, Asia Pacific, Latin America, Europe, and the Middle East.

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