Lupin Receives US FDA Approval for Amlodipine

Lupin Ltd on July 17, 2007 has announced that it has received approval from the US FDA for it's Abbreviated New Drug Application (ANDA) for Amlodipine Besylate Tablets, 2.5 mg (base), 5 mg (base) and 10 mg (base). Commercial shipments of Amlodipine Besylate Tablets will commence shortly.

The Company's Amlodipine Besylate Tablets are the AB-rated generic equivalent of Pfizer's Norvasc® Tablets, a long-acting calcium channel blocker indicated for the treatment of hypertension. The brand product had annual sales of approximately $ 2.7 billion for the twelve months ended December 2006, based on IMS Health sales data.

"We are pleased with the approval of Amlodipine Besylate tablets. This approval broadens our growing portfolio of cardiovascular medications," said Dr. Kamal Sharma, Managing Director of the Company.

The stock was trading at Rs.720, up by Rs.6.15 or 0.86%. The stock hit an intraday high of Rs.727 and low of Rs.710.60. The total traded quantity was 44786 compared to 2 week average of 145561.

Source : Equity Bulls

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