Lupin Pharmaceuticals gets 180-exclusivity for Gatifloxacin Opthamlic solution - Angel Broking

Lupin Pharmaceuticals, the US subsidiary of pharmaceutical major, Lupin Limited (Lupin), announced that it has launched its generic Gatifloxacin Ophthalmic Solution, 0.5%. Lupin had earlier received final approval from the United States Food and Drugs Administration (US FDA) to market a generic version of Allergan Inc.'s Zymaxid Ophthalmic Solution, 0.5%. Lupin's Gatifloxacin Ophthalmic solution 0.5% is the generic equivalent of Zymaxid Ophthalmic Solution of Allergan and is indicated for the treatment of bacterial conjunctivitis. Zymaxid Ophthalmic Solution, 0.5%, had annual U.S sales of approximately US $62.3mn (IMS MAT Jun 2013). Lupin was the first applicant to file an ANDA for Zymaxid Ophthalmic Solution and as such will be entitled to 180-days of marketing exclusivity. We expect the product to contribute around US $10-12mn in sales during the six month of exclusivity period.

We maintain our Accumulate on the stock with a target of Rs. 904.

Source : Equity Bulls

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