Lupin rises and falls

Yesterday, after market hours, Lupin had some good news.

The company announced the launch of Potassium Chloride Oral Solution USP, having received an approval from the United States Food and Drug Administration (FDA) earlier.

Lupin's Potassium Chloride Oral Solution USP is the generic equivalent of Genus Lifesciences, Inc.'s Potassium Ch loride Oral Solution . It is indicated for the treatment and prophylaxis of hypokalemia with or without metabolic alkalosis, in patients for whom dietary management with potassium-rich foods and/or diureticdose reduction are insufficient.

Potassium Chloride Oral Solution USP had annual sales of approximately USD 184.95 million in the US.

The stock price reacted positively on opening, going up over 1.6% to Rs.866.25 but since then, the news has lost its fizz and the stock price is now in the red at Rs.850.45, down some 0.5%.