Lupin's stock gains on USFDA approval for hypertension medication

Lupin's share price saw an early trade gain on January 15, following the approval from the United States Food and Drug Administration (USFDA) for the marketing of a generic hypertension drug. The approved drug is Propranolol Hydrochloride Extended-Release Capsules USP in strengths of 60 mg, 80 mg, 120 mg, and 160 mg, which is a generic equivalent of Inderal LA Extended-Release Capsules by ANI Pharmaceuticals, Inc.

The capsules are intended for the management of hypertension, angina reduction, and prophylaxis of common migraine headaches. Lupin will manufacture these capsules at its Pithampur facility in India.

As of 11:01 am, Lupin's stock was quoting at Rs 1,409.80, up by Rs 11.35, or 0.81 percent on the Bombay Stock Exchange (BSE). This approval adds to Lupin's recent achievements, including the launch of bromfenac ophthalmic solution for postoperative inflammation and ocular pain reduction after cataract surgery. Additionally, the company introduced Varenicline tablets and received FDA approval for its generic loteprednol etabonate ophthalmic suspension for seasonal allergic conjunctivitis in December.

Investors are reacting positively to Lupin's continuous efforts in expanding its product portfolio and securing regulatory approvals.