Lupin, which had closed yesterday at Rs.940.65, surged to Rs.954.35, which was so close to its 52-week high of Rs.955.85. It is now trading at Rs.941 levels, just about holding on to the green.
The market reacted to the launch of Favipiravir in India under the brand name Covihalt for the treatment of mild to moderate COVID-19.
Favipiravir has received authorization from the Drug Controller General of India (DCGI) for emergency use. Lupin’s Covihalt dosage strength has been developed keeping in mind convenience of administration.
It is available as 200 mg tablets in the form of a strip of 10 tablets, and priced at Rs. 49 per tablet.
Lupin enjoys leadership position in the cardiovascular, anti-diabetic, and respiratory segments and has significant presence in the anti-infective, gastro-intestinal (GI), central nervous system (CNS) and women’s health areas. Lupin is the third largest pharmaceutical company in the U.S. by prescriptions and in India by global revenues. The Company invests 9.6 % of its revenues on research and development.