Lupin bags approval for hydrocortisone valerate cream
Leading pharma company Lupin received the USFDA approval for 0.2% USP hydrocortisone valerate cream. The medication is a medium-strength corticosteroid.
The company's Hydrocortisone Valerate Cream USP, 0.2% is a generic equivalent of Westcort Cream, 0.2%, sold by Sun Pharmaceutical Industries, Inc. The formulation is indicated for providing relief in cases of inflammatory and pruritic manifestations of dermatoses in adult patients, which are responsive to corticosteroid.
Westcort's Hydrocortisone Valerate Cream had an annual sales of US$15 million in the US as of March 2019, as per IQVIA MAT data. This medicine is available both over-the-counter (OTC) and with doctor's prescription in the US market.
Earlier, last week, the USFDA had completed the inspection of the company's Nagpur oral solid manufacturing plant. The inspection was closed without any Form 483 observations. The inspection was conducted between August 5 to August 8, 2019.
On the financial front, for Q1FY20, the company reported consolidated sales of Rs. 4,355.83 crore as compared to Rs. 3,774.57 crore in Q1FY19. Consolidated net profit was at Rs. 303.05 crore as compared to Rs. 202.76 crore, an increase of 49.46 per cent YoY on the back of robust sales in India and overseas.
Meanwhile, on Friday, the stock of Lupin Limited closed at Rs. 729.40 per share, down by 0.67 per cent on BSE. The stock hit an intraday high of Rs. 734.00 per share and an intraday low of Rs. 722.35 per share.