Lupin gains on FDA approval for oral contraceptive

MUMBAI: Shares of Lupin gained momentum in weak market after it received US FDA approval for oral contraceptive tablets.

The pharma major has received final approval to market VyfemlaTM tablets, a generic version of Warner Chilcott’s Ovcon 35 tablets (Norethindrone and Ethinyl Estradiol Tablets USP, 0.4mg/0.035 mg).

Lupin’s US subsidiary Lupin Pharmaceuticals Inc shall commence marketing the product shortly.

Lupin's VyfemlaTM tablets is indicated for prevention of pregnancy in women who elect to use this product as a method of contraception.

Ovcon 35 tablets has annual U.S sales of approximately US$ 22.3 million.

Meanwhile, CLSA has maintained 'buy' on Lupin with a target price of Rs 1,030 from Rs 975.