Views on Lupin - get USFDA approval for Prandimet: Angel Broking

Views of Ms. Sarabjit Kour Nangra (VP Research - Pharma, Angel Broking)

Lupin- gets USFDA approval for Prandimet:

"Lupin received an approval from the USFDA for PrandiMet (also known as Prandin) generic that is used for treatment of type 2 diabetes. Danish pharmaceutical company Novo Nordisk is the innovator of the drug and has been approved to lower the blood glucose in adult patients with type 2 diabetes whose hyperglycemia cannot be controlled satisfactorily by meglitinide and/or metformin. The product is expected to have sales of US$ 200-300mn in US. The drug could be limited competition for the company. On a very conservative estimate the drug can easily contribute around US$ 50mn on sales. We remain Neutral on the stock, on back of high valuations."

Shares of LUPIN LTD. was last trading in BSE at Rs.1974.6 as compared to the previous close of Rs. 1954.7. The total number of shares traded during the day was 46313 in over 2562 trades.

The stock hit an intraday high of Rs. 1984.9 and intraday low of 1962.05. The net turnover during the day was Rs. 91400755.

Source : Equity Bulls

Keywords