Lupin - Launches MoxiFloxacin HCL Opthalmic Solution in US: Angel Broking

Views of Ms. Sarabjit Kour Nangra (VP Research - Pharma, Angel Broking):

"Lupin Limited announced the launch of its Moxifloxacin Hydrochloride Ophthalmic solution USP, 0.5% (base) having received an approval from the USFDA earlier. Lupin's Moxifloxacin Hydrochloride Ophthalmic solution USP, 0.5% (base), is an AT1 rated generic equivalent of Novartis Pharma Corp's Vigamox Ophthalmic solution. It is indicated for the treatment of bacterial conjunctivitis caused by susceptible strains of the organisms. Vigamox Ophthalmic solution had US sales of US$267.9mn (IMS MAT March 2017). The product is likely to contribute around US$20-25mn. We maintain our BUY recommendation on the stock with a price target of INR 1526."

Shares of LUPIN LTD. was last trading in BSE at Rs.1084.05 as compared to the previous close of Rs. 1044.2. The total number of shares traded during the day was 246595 in over 7884 trades.

The stock hit an intraday high of Rs. 1095.5 and intraday low of 1036.8. The net turnover during the day was Rs. 264208698.

Source : Equity Bulls

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