Lupin-led arm launches heart health drug in Canada; stock gains

30 Aug 2023 , 10:07 AM

Lupin’s share price rose about 1% in early trade on August 30 after its subsidiary released a drug to boost heart health in Canada. 

At around 9.53 AM, Lupin was trading 0.42% higher at Rs 1,102.30, against the previous close of Rs 1,097.70 on NSE. The counter touched an intraday high of Rs 1,115.60.

Lupin Pharma Canada Ltd., a wholly owned subsidiary of Lupin, has introduced Propranolol LA (long-acting) capsules in strengths of 60 mg, 80 mg, 120 mg, and 160 mg. Propranolol LA is a generic equivalent of Inderal LA that provides patients and healthcare practitioners with an effective therapeutic solution following the discontinuation of Inderal LA.

On August 25, the company gained permission from the US Food and Drug Administration (USFDA) for its abbreviated new drug application (ANDA) for Pirfenidone Capsules of 267 mg and 801 mg, as well as to market a generic equivalent of Hoffmann La Roche Inc’s Esbriet Capsules. This item will be manufactured at the company’s Pithampur factory in India.

On August 24, the company announced the acquisition of the diabetic brands Ondero and Ondero Met from German drugmaker Boehringer Ingelheim, as well as the trademark rights to both brands.

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