Lupin shares climbed nearly 2 percent intraday Wednesday after receiving approval from the US health regulator for Nuvigil tablets that improves wakefulness.
"US subsidiary Lupin Pharmaceuticals Inc has received approval for its Armodafinil tablets 50 mg, 150 mg, 200 mg and 250 mg from the United States Food & Drug Administration," the pharma major said, adding it will commence promoting the product in US shortly.
Nuvigil tablets had US sales of USD 515.6 million, according to IMS MAT report of September 2016.
Lupin had filed this drug from its Goa plant that was cleared and received Establishment Inspection Report in November from USFDA.
Analysts say Lupin could generate sales of USD 20-23 million and profit of USD 10-12 million from Nuvigil drug.
CapitalStars Investment Adviser: SEBI Registration Number: INA000001647
0 comments:
Post a Comment