Lupin climbs 2% on USFDA approval to generic Nadolol tablets

NEW DELHI: Shares of Lupin rose 2 per cent on Tuesday after the drug maker said that it has received final approval from the US health regulator to market generic Nadolol tablets, used for treatment of hypertension, in the US market.

Following the announcement, the stock rose 1.99 per cent to end the day at Rs 1,060.50 on BSE.

In a filing to BSE the company said it will market its Nadolol tablets USP, 20 mg, 40 mg and 80 mg. The product is a generic version of US WorldMeds LLC's Corgard tablets in the same strengths.

As per IMS MAT June 2017 data, Nadolol tablets USP in the three strengths had annual sales of around $109.8 million in the US, the company informed BSE. The tablets are indicated for management of patients with angina pectoris and for the treatment of hypertension, it added.