Lupin jumps on getting USFDA nod

Lupin is up on the bourses today. From a closing of Rs.1829.45, it opened stronger at Rs.1845, going on to hit an intra day high of Rs.1895. It has come off this high and is now at Rs.1856, up over 1.5%.

The stock is reacting positively to the news that it has received final approval for its Fenofibrate Tablets 54 mg and 160 mg from the United States Food and Drugs Administration (FDA) to market a generic version of Teva’s Fenofibrate Tablets, 54 mg and 160 mg. Lupin’s US subsidiary, Lupin Pharmaceuticals Inc. would commence promoting the product shortly in the US.

Lupin's Fenofibrate Tablets 54 mg and 160 mg is the AB rated generic equivalent of the current reference listed drug, Fenofibrate Tablets 54 mg and 160 mg of Teva. It is indicated as an adjunct to diet to reduce elevated LDLC, Total-C, TG and Apo B, and to increase HDL-C in adult patients with primary hypercholesterolemia or mixed dyslipidemia and for treatment of adult patients with severe hypertriglyceridemia.

Fenofibrate Tablets 54 mg and 160 mg has US sales of USD 156 million (IMS MAT June 2015)

This reason apart, foreign brokerage house, CLSA put out a report, naming a few stocks which have the resilience to remain upbeat even in a falling market. And Lupin’s name figures out in this list, along with HUL, Asian Paints and TCS.