Lupin zooms ~2% on gaining USFDA approval for hypertension drug

15 Jan 2024 , 02:29 PM

The Lupin share price rose in early trading on January 15 after the pharmaceutical firm received clearance from the United States Food and medicine Administration to launch a generic hypertension medicine.

At around 2.12 PM, Lupin was trading 1.65% higher at Rs 1,420.75 per piece, against the previous close of Rs 1,397.75 on NSE.

Lupin has obtained approval from the US Food and Drug Administration (USFDA) for its Abbreviated New Drug Application (ANDA) for Propranolol Hydrochloride Extended-Release Capsules USP in 60 mg, 80 mg, 120 mg, and 160 mg. 

This approval allows the pharmaceutical company to introduce a generic alternative to ANI Pharmaceuticals, Inc.’s Inderal LA Extended-Release Capsules in corresponding strengths, as stated in the company’s official statement.

The drug maker will manufacture the product at its facility situated in Pithampur, India.

Propranolol hydrochloride extended-release capsules. USP are approved for the treatment of hypertension, angina, and the prevention of frequent migraine headaches.

Earlier this month, the business introduced bromfenac pphthalmic solution to treat postoperative inflammation and reduce eye discomfort in cataract surgery patients.

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