02-Dec-2023Today's Market Indicators

Lupin rises on USFDA nod for Pitavastatin tablets
(15:42, 21 Nov 2023)
Pitavastatin tablets are indicated as an adjunct to diet to reduce low-density lipoprotein cholesterol in adults with primary hyperlipidemia and adults, pediatric patients aged 8 years and older with heterozygous familial hypercholesterolemia (HeFH). It is a generic equivalent to Livalo tablets of Kowa Company.

Accroding to IQVIA MAT September 2023, Pitavastatin tablets had estimated annual sales of $298 million in the U.S.

Meanwhile, the pharma major also received another tentative approval from the USFDA for its ANDA for Dapagliflozin tablets, generic equivalent of Farxiga tablets of AstraZeneca AB.

Dapagliflozin tablets are mainly used to treat type-2 diabetes. It can also be used to treat heart failure and chronic kidney disease (CKD). Dapagliflozin is usually prescribed if you have type 2 diabetes and cannot take metformin.

Accroding to IQVIA MAT September 2023, Dapagliflozin tablets had estimated annual sales of $7,282 million in the U.S.

Both the drugs will be manufactured at Lupin?s Pithampur facility in India.

Mumbai-based Lupin is an innovation-led transnational pharmaceutical company. It develops and commercializes a wide range of branded and generic formulations, biotechnology products, and APIs in over 100 markets in the U.S., India, South Africa, and across the Asia Pacific (APAC), Latin America (LATAM), Europe, and Middle East regions.

The pharmaceutical company?s consolidated net profit zoomed to Rs 495.32 crore in Q2 FY24 as against Rs 134.47 crore recorded in Q2 FY23. Revenue from operations rose 20.7% YoY to Rs 4,939.23 crore in Q2 FY24.

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