Lupin rallies on USFDA approval for generic drug

NEW DELHI: Shares of Lupin rallied nearly 2 per cent in the morning trade on Wednesday after Lupin Pharmaceuticals (LPI), the US subsidiary of Indian drug maker, received the US Food and Drug Administration's (FDA) approval for its armodafinil tablets.

Armodafinil is a generic version of Cephalon’s Nuvigil tablets. LPI will begin to promote the product in the US market shortly, the company told the Bombay Stock Exchange (BSE) in a release on Tuesday evening.

At 09:40 am, Lupin shares were trading 1.06 per cent higher at 1,533. They hit a low of Rs 1,526 and a high of Rs 1,545 in the first 30 minutes of trade.


The US FDA has granted approval to four strengths of the tablet - 50mg, 150mg, 200mg and 250 mg. Nuvigil had US sales of $515.6 million, Lupin said, citing IMS data from September 2016.