Lupin - launched Niacin Extended Release Tablets in US - Angel Broking

Lupin Limited (Lupin) announced that its US subsidiary, Lupin Pharmaceuticals Inc. has launched its Niacin Extended-Release Tablets USP, 500 mg, 750 mg, 1000 mg strengths having received final approval from the United States Food and Drug Administration (FDA). Lupin's Niacin Extended-Release Tablets USP, 500 mg, 750 mg, 1000 mg strengths are the AB-rated generic equivalent of AbbVie Inc.'s Niaspan® Tablets 500 mg, 750 mg, 1000 mg and used with diet to reduce elevated TC, LDL-C, Apo B and TG levels, and to increase HDL-C in patients with primary hyperlipidemia and mixed dyslipidemia. Niaspan® Tablets had annual US sales of approximately US$ 1bn (IMS MAT Dec, 2013). Currently, Teva has the 180-day exclusivity for the product and there are other players awaiting the launch of the product.

Thus the company has potential to earn good revenues from the product during the period. We estimate the product to generate around sales of US$50mn and net profit of US$10mn during FY2015. We remain neutral on the stock.

Shares of LUPIN LTD. was last trading in BSE at Rs.951 as compared to the previous close of Rs. 951.75. The total number of shares traded during the day was 30211 in over 1546 trades.

The stock hit an intraday high of Rs. 959.9 and intraday low of 948.15. The net turnover during the day was Rs. 28826257.

Source : Equity Bulls

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