Lupin Gets USFDA Nod For Febuxostat Tablets, Shares Hit 52-Week High For 2nd Day

Lupin Ltd shares traded fresh 52-week high on Friday after the global pharma major on January 18 announced of receiving approval from the United States Food and Drug Administration (U.S. FDA) for its Abbreviated New Drug Application for Febuxostat Tablets, 40 mg and 80 mg, to market a generic equivalent of Uloric® Tablets, 40 mg and 80 mg, of Takeda Pharmaceuticals U.S.A., Inc. The product will be manufactured at Lupin's Pithampur facility in India.

Current market price of Lupin shares on BSE is Rs 1434.00 apiece with intraday gain of 0.62%. Lupin shares also hit 52-week high on January 18 and witnessed spurt in volume by more than 2.17 times. The company has a market capitalisation of Rs 65,293.83 crore. Check details below:

Lupin Bags USFDA Nod For Febuxostat Tablets: According to the press release of the company dated January 18, 2024, "Febuxostat Tablets, 40 mg and 80 mg, are indicated for the chronic management of hyperuricemia in adult patients with gout who have an inadequate response to a maximally titrated dose of allopurinol, who are intolerant to allopurinol, or for whom treatment with allopurinol is not advisable. Febuxostat Tablets (RLD Uloric®) had estimated annual sales of USD 27 million in the U.S. (IQVIA MAT November 2023).

Lupin Shares Performance & Return: The 52-week high price of Lupin Shares on BSE is Rs 1441.75 apiece and 52-week low price is Rs 628.10 apiece, respectively. Lupin Shares offered shareholders return of 19% in last 3-months, gained 88% in last 1-year, and soared 48% in last 2-year. The scrip surged 31% in last 3-years and rose 66% in last 5-years.

Lupin About: Lupin is an innovation-led transnational pharmaceutical company headquartered in Mumbai, India. The Company develops and commercializes a wide range of branded and generic formulations, biotechnology products, and APIs in over 100 markets in the U.S., India, South Africa, and across the Asia Pacific (APAC), Latin America (LATAM), Europe, and Middle East regions.