USFDA Nod for Stroke Drug Lifts Lupin Shares: Indian Pharma Giant Celebrates

24 Jan 2024 , 11:18 AM

On January 24, early trading saw a surge in Lupin shares following the USFDA's clearance of the company's tablets to lower the risk of stroke.

Lupin was trading at Rs 1,455.55 on the BSE at 11:13 a.m., up Rs 16.25, or 1.15% .

'The company has received the tentative approval from the United States Food and Drug Administration (USFDA) for its Abbreviated New Drug Application (ANDA) for Rivaroxaban Tablets USP, 2.5 mg, 10 mg, 15 mg, and 20 mg, to market a generic equivalent of Xarelto Tablets, 2.5 mg, 10 mg, 15 mg, and 20 mg, of Janssen Pharmaceuticals, Inc,' the business stated.

This product will be produced in Lupin's Indian plant in Pithampur.

Rivaroxaban tablets are prescribed for the treatment of deep vein thrombosis (DVT), pulmonary embolism (PE), and nonvalvular atrial fibrillation. They also help lower the risk of stroke and systemic embolism. It also lowers the chance of significant cardiovascular events in those suffering from coronary artery disease (CAD).

The USFDA approved the company's 40 mg and 80 mg Febuxostat tablets on January 18.

The company's high-margin, low-competition medicine Spiriva is likely to contribute significantly to its Q3 earnings, which are predicted to be among the best. US revenues will remain consistent due to other significant launches like the seizure medication Diazepem gel, the lung problem medication Vilfuro-G, and a stable share in the antiviral drug Darunavir, as well as Suprep, a colonoscopy solution, and albuterol inhalers.

The share had a 52-week high of Rs 1,454.95 on January 23, 2024, and a 52-week low of Rs 628.10 on March 31, 2023.

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