Lupin & DST join hands over Migraine & Psoriasis

Lupin Ltd on April 27, 2007, has announced that the Department of Science and Technology (DST), Government of India and the Company have joined hands for the clinical development of the Company's Migraine and Psoriasis projects. After an exhaustive review and evaluation of the proposals received from the industry, the DST has selected two clinical development programs of the Company for funding, one each in the disease areas of migraine and psoriasis. While the migraine project involves conducting of Phase III clinical trials of Company's LL-2011 (Amigra, a herbal formulation being developed as a nasal spray) for prophylactic treatment of migraine, the collaboration on psoriasis will support the extended Phase I and Phase II trials of LL-4218, a pure compound derived from a herbal source, for the treatment of chronic stable plaque type of psoriasis. The DST has committed over Rs 100 million to support the Company's clinical development projects, which are expected to be completed in two years.

Speaking of the collaboration, Dr. Desh Bandhu Gupta, Chairman of the Company reiterated the Company's commitment to support the discovery and development of new drugs for human healthcare and greatly appreciated the support extended by the Government of India in the clinical development of Company's anti-migraine and anti-psoriasis agents.

The stock was trading at Rs.706.25, down by Rs.2.85 or 0.40%. The stock hit an intraday high of Rs.719.90 and low of Rs.703.40. The total traded quantity was 31925 compared to 2 week average of 112293.

Source : Equity Bulls

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