Pharma major Lupin’s shares were climbing on Wednesday after the company got the green light to market a drug to treat lung disease in the US.
What Happened: The Indian pharmaceutical giant on Tuesday received approval from the US Food and Drug Administration to market its generic Pirfenidone capsules for the treatment of idiopathic pulmonary fibrosis, a lung disease.
The approval pertains to Lupin’s abbreviated new drug application for Pirfenidone capsules with a strength of 267 milligrams, offering a generic alternative to Hoffmann La Roche’s Esbriet Capsules of the same strength.
Manufacturing of this product will take place at Lupin’s facility in Pithampur, India.
Pirfenidone capsules achieved an estimated annual sales figure of $95 million (₹785 crore) in the US, Lupin said, quoting data from IQVIA MAT June 2023.
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The company also launched Propranolol LA (long-acting) capsules for migraines and chest pain in Canada on Tuesday.
Price Action: Lupin’s share price jumped 1.19% to ₹1,110.80 at open on Wednesday.
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