Lupin gains on USFDA approval for Flagyl tablets

NEW DELHI: Shares of Lupin advanced 1 per cent on Thursday after the company announced that it has received final approval for its Metronidazole Tablets USP, 250 mg and 500 mg from the USFDA to market a generic version of G D Searle LLC's Flagyl tablets, 250 mg and 500 mg.

Following the development, the stock gained 1.15 per cent to close at Rs 1,003.55 on BSE. It opened at Rs 1,000 and touched an intraday high and low of Rs 1,017.10 and Rs 995.10 respectively.

According to the company's filing on the bourses, Flagyl tablets had US sales of 44.1 million dollars in June 2017.

Promoters held 46.70 per cent stake in the company as of June 2017.

For the quarter ended June 30, 2017, Lupin reported total revenue at Rs 2,499.33 crore and net profit stood at Rs 354.12 crore.

The scrip touched its fresh 52-week high of Rs 1,572.25 on February 6, 2017 and its 52-week low of Rs 920 on August 21, 2017.