Lupin's alliance partner Concord receives U.S. FDA approval for Mycophenolate Mofetil Tablets USP

Pharma major Lupin Limited (Lupin) in alliance with Concord Biotech Limited (Concord) announced that it has received approval from the United States Food and Drug Administration (U.S. FDA) for Mycophenolate Mofetil Tablets USP, 500 mg, to market a generic version of CellCept® Tablets of Roche Palo Alto LLC (Roche).

Mycophenolate Mofetil Tablets are indicated for the prophylaxis of organ rejection in recipients of allogeneic kidney, heart or liver transplants, in combination with other immunosuppressants.

Mycophenolate Mofetil Tablets USP, 500 mg (RLD: CellCept®) had an annual sales of approximately USD 96 million in the U.S. (IQVIA MAT Mar 2020).

Shares of LUPIN LTD. was last trading in BSE at Rs.936.7 as compared to the previous close of Rs. 928. The total number of shares traded during the day was 95632 in over 3879 trades.

The stock hit an intraday high of Rs. 945.45 and intraday low of 925.2. The net turnover during the day was Rs. 89655239.

Source : Equity Bulls

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