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Lupin receives final approval to launch skin cream in US

Tanay Loya
/ Categories: Mindshare, Markets
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Pharma major Lupin on Thursday announced receiving final nod from the US Food and Drug Administration (USFDA) to market its Clobetasol Propionate cream.

The cream is used for the treating various skin conditions. The product is a generic version of Fougera Pharmaceuticals Inc's Temovate cream, the company said in a statement. Clobetasol Propionate Lotion 0.05 per cent had annual sales of approximately US$12.6 million in the US.

Lupin Limited is a transnational pharmaceutical company based in Mumbai. Lupin is the 8th and 6th largest generics pharmaceutical company by market capitalization (September 30, 2017, Bloomberg) and revenues (March 31, 2017, Bloomberg) respectively.

At 10:45 hours on Friday, Lupin was trading at Rs. 865 per share, up Rs. 4.60 or 0.23 per cent on NSE whereas BSE Sensex was at 35,431, down 474 points or 1.32 per cent and Nifty was at 10,869, down 146 points or 1.33 per cent. The scrip opened at Rs. 860 per share and touched a high of Rs. 878.50 and a low Rs. 853.10 per share on NSE. The stock attracted a traded volume of 11,54,609 shares on NSE.

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