Lupin submits New Drug Application for Etanercept biosimilar in Japan

Pharma major Lupin announced on Tuesday that YL Biologics, its joint venture with Yoshindo and Kyowa in Japan has submitted a new drug application for marketing authorization to the Pharmaceuticals and Medical Devices Agency for a biosimilar of Etanercept to treat indications for moderate to severe Rheumatoid Arthritis and Juvenile Idiopathic Arthritis. 
  
The company had reported a 64 per cent drop in its net profit to Rs. 309.18 crore in the third quarter of the fiscal year 2018 as against a net profit of Rs. 859.47 crore in the same quarter of the previous fiscal year. 
  
The stock hit an intraday high of Rs. 787 per share and an intraday low of Rs. 773 per share on BSE on Tuesday. The stock had touched its 52-week high of Rs. 1,326.50 per share on May 22, 2017 and its 52-week low of Rs. 727.05 per share on March 26, 2018 on BSE, respectively. 
  
The stock closed at Rs. 775.40 per share, up by 0.10 per cent on BSE. Meanwhile, S&P BSE Sensex ended at 35,216.32 level, higher by 0.02 per cent and NSE Nifty50 closed at 10,717.80 level, higher by 0.02 per cent on Tuesday.