Lupin Gains On U.S. Drug Regulator’s Approval For Generic Antidepressant
Lupin Ltd. surged after the pharmaceutical firm got the U.S. Food and Drug Administration's (FDA) final approval to market the generic version of Apotex Technologies Inc.'s antidepressant Paxil tablets.
The tablets are used to treat major disruptive disorder, panic disorder, social anxiety disorder, and premenstrual dysphoric disorder. The company will commence promoting the product shortly, according to its filing to the exchanges.
Paxil tablets had total sales of $127.7 million in the U.S. till September 2016, on a twelve-month basis, according to IMS data cited by Lupin.
Lupin shares rose as much as 2 percent to Rs 1,496 after the announcement.
Lupin had launched the generic version of morphine sulphate extended-release tablets, used for management of severe pain, in the U.S. market on January 13.
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