Lupin hits a new 52-week high

Lupin has hit a new 52-week high at Rs.638.65 and it continues to remain strongly in the green, up 1.38% at Rs.636.50.

The stock has hit a new high after the company announced that its subsidiary Lupin Pharmaceuticals Inc. has received final approval for its Valsartan and Hydrochlorothiazide Tablets, a hypertension drug, from the United States Food and Drugs Administration (USFDA). This is used to lower blood pressure in patients not adequately controlled with monotherapy or as initial therapy in patients who are likely to need multiple drugs to achieve their blood pressure goals.

In the Press Release issued by the company, it has stated that Valsartan and Hydrochlorothiazide Tablets USP, 80/12.5 mg, 160/12.5 mg, 160/25 mg, 320/12.5 mg and 320/25 mg had annual sales of approximately $1.7 billion in US as per IMS MAT September 2012 sales data.