Lupin stock vaults to 52-week high on generic launch of Novartis' Diovan

Lupin achieves an important milestone with the launch of Valsartan and Hydrochlorothiazide Tablets, the generic version of Novartis’ hypertension drug Diovan HCT in the US. The launch marks yet another limited competition foray in the US generics market for the fourth largest pharma company in India.

The market for Diovan HCT stands at $ 1.7 billion currently with two generic players. With Lupin having already started shipping the product, it will be help it in garnering market share for itself in a limited competition scenario.

Lupin’s stock has hit a 52-week high of Rs 638.65 on BSE today following the news of the launch. The stock has gained 25% in the last one year – and has been one of the best performing stocks among the frontline pharma companies. The company has had a strong growth in its revenues in the last four quarters and also posted improvement in its operating profit margins during this period.