Lupin stock rises after pharma major gets US FDA approval for its Tolvaptan tablets
Tolvaptan Tablets (RLD Jynarque®) had estimated annual sales of USD 287 million in the U.S. (IQVIA MAT August 2023), said Lupin.
Lupin Share Price: Shares of global pharma major Lupin are trading higher by 1.26 per cent, or Rs 14.50, at Rs 1,162.95, on BSE on Friday, a day after the company announced that it had received tentative approval from the US FDA for Tolvaptan tablets to market a generic equivalent of Jynarque® tablets.
The stock ended its trading session on Thursday at Rs 1,148.45 and opened at Rs 1,163.95 on Friday to rise to the day's high of Rs 1165.30.
"We are pleased to enclose a press release as regards, receipt of tentative U.S. FDA approval for the company’s abbreviated new drug application Tolvaptan tablets, 15 mg, 30 mg, 45 mg, 60 mg, and 90 mg to market a generic equivalent of Jynarque® Tablets, 15 mg, 30 mg, 45 mg, 60 mg, and 90 mg, of Otsuka Pharmaceutical Co., Ltd," the company said in a statement on Thursday.
The product will be manufactured at Lupin’s Nagpur facility, the company said.
Tolvaptan Tablets (RLD Jynarque®) had estimated annual sales of USD 287 million in the U.S. (IQVIA MAT August 2023).
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