Lupin Gets U.S. Regulator’s Nod For Alzheimer’s Drug 

Lupin Ltd. received the the U.S. Food and Drug Administration’s approval for launching generic versions of Alzheimer's treatment drug, Namenda XR.

Lupin’s Memantine Hydrochloride extended-release capsule is the generic equivalent of Allergan's Namenda XR capsule, the Indian drug maker said in a press release.

The Namenda XR capsules, used to treat moderate to severe dementia of the Alzheimer's type, had $1.22 billion in sales in the U.S. in the 12 months ended June 2016, according to IMS data cited by Lupin.

Shares of Lupin recovered 2 percent from the day’s low to Rs 1,488 post the announcement, but a fresh wave of selling dragged the stock to Rs 1,467, down 3.3 percent for the day.