Lupin gained nearly a percent intraday on September 13 after receiving approval from Health Canada for a hypertension drug.
The stock has gained more than 4 percent in last 15 days. It was quoting at Rs 764.70, up Rs 5.55, or 0.73 percent, on the BSE at 1518 hours.
The drug major said it received approval for its Propranolol Hydrochloride extended-release (ER) capsules from Health Canada.
The drug is available in 60 mg, 80 mg, 120 mg and 160 mg strengths.
Lupin said it was the first generic company to receive an approval for generic Inderal-LA capsules for the Canadian market and the product will be manufactured at its Pithampur Unit-2 facility.
Lupin’s Propranolol Hydrochloride capsules are the generic version of Inderal-LA capsules of Pfizer Canada ULC.
The drug is used in the treatment of hypertension and for the prophylaxis of angina pectoris.
It had an annual sales of approximately CAD 8.6 million, as per MAT data on December 2018.Get access to India’s fastest growing financial subscriptions service Moneycontrol Pro for as little as Rs 599 for first year. Use the code “GETPRO”. Moneycontrol Pro offers you all the information you need for wealth creation including actionable investment ideas, independent research and insights & analysis For more information, check out the Moneycontrol website or mobile app.
courtsey By – https://www.moneycontrol.com/news/buzzing-stocks/lupin-gainsapprovalhealth-canada-for-hypertension-drug_12981861.html