Lupin Ltd. entered into a non-exclusive patent license agreement with Takeda pharmaceutical company to commercialise Vonoprazan tablets in the domestic market.
The drug —a treatment option for acid peptic disorder— will be marketed under the brand name Lupivon, and will be available in two strengths: 10 mg and 20 mg, the global pharma company said in an exchange filing on Wednesday.
"This is a further step in strengthening our gastroenterology portfolio and is in line with the commitment to introduce innovative medicines to address the unmet needs of our patients," said Rajeev Sibal, president India Region Formulations, Lupin.
In India, Vonoprazan is approved by the Drugs Controller General of India (DGCI) for treating reflux esophagitis, gastric ulcers and duodenal ulcers.
Lupin stock fell as much as 2% during the day to Rs 2,225 apiece on the NSE. It was trading 1.87% lower at Rs 2,228 apiece, compared to a 0.19% advance in the benchmark Nifty 50 as of 1:25 p.m.
It has risen 95% during the last 12 months and has advanced by 68% on a year-to-date basis. The relative strength index was at 55.
Sixteen out of the 35 analysts tracking the company have a 'buy' rating on the stock, 10 suggest a 'hold' and nine have a 'sell', according to Bloomberg data. The average of 12-month analyst price targets implies a potential downside of 9%.
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