Share of Lupin fell as much as 4.3 per cent to Rs 1,863.60 after its rival Aurobindo Pharma got a nod from US Food and Drug Administration (USFDA) to make and sell its generic version of oral suspension of antibiotic Cefixime.
The approval by the USFDA is for strengths of 100 mg/5 ml and 200 mg/5 ml and the product is ready for launch, Aurobindo Pharma said in a statement.
This move will impact Lupin as it will face direct competition from Aurobindo Pharma.
According to Barclays, sales of Lupin will be impacted as Suprax accounts for 8 per cent of the total sales of Lupin and expects its FY16 EPS to get impacted by 2-3 per cent.
Shares of Lupin ended 2.5 per cent lower at Rs 1,898.
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