Lupin shares in focus today as firm gets USFDA nod to market generic drug

Shares of Lupin are in focus today after the pharma firm said it has received US health regulator’s nod to market a generic product, used in the treatment of a lung disease, in the American market. On Friday, Lupin shares plunged 1.02% to Rs 1077.55 against the previous close of Rs 1088.60 on BSE. Market cap of the firm fell to Rs 49,051 crore. Total 9570 shares of the firm changed hands amounting to a turnover of Rs 1.04 crore on BSE.    

Earlier, the stock opened lower at Rs 1066.05 on BSE. Stock of Lupin has gained 62 per cent in a year and risen 47.06 per cent in 2023. The share hit a 52-week high of Rs 1143.70 on   August 17, 2023 and a 52-week low of Rs 623.20 on September 19, 2022.  

In terms of technicals, the relative strength index (RSI) of Lupin stock stands at 62.7, signaling it's neither trading in the overbought nor in the oversold zone. The stock has a beta of 0.6, indicating very low volatility in a year. Lupin shares are trading lower than the 5 day, and 10 day but higher than the 20 day, 50 day, 100 day and 200 day moving averages.   

The drug maker said it has received approval from the US Food and Drug Administration (USFDA) to market Pirfenidone tablets in strengths of 267 mg and 801 mg. 

The company's product is the generic equivalent of La Roche Inc's Esbriet tablets. Pirfenidone is used for the treatment of idiopathic pulmonary fibrosis.  

As per IQVIA MAT data, Pirfenidone tablets had estimated annual sales of $218 million in the US. 

Lupin is a pharmaceutical company producing, developing and marketing a wide range of branded nd generic formulations, biotechnology products and active pharmaceutical ingredients (APIs) globally. 

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