Views on Lupin gets USFDA nod for Fenofibrate Tablets - Angel Broking

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

Lupin gets USFDA nod for Fenofibrate Tablets:

Lupin got approval for key anti-cholesterol drug Fenofibrate from USFDA. Fenofibrate is mainly used to reduce cholesterol levels in patients at risk of cardiovascular disease. Like other fibrates, it reduces low-density lipoprotein (LDL) and very low density lipoprotein (VLDL) levels, as well as increasing high-density lipoprotein (HDL) levels and reducing triglyceride levels. Though the drug is highly competitive and hence unlikely to contribute significantly to the company; it's positive, as the approval has come from Lupin's Goa plant, which underwent US FDA audit and got a 483 with 9 observations. However, we maintain our NEUTRAL stance on the stock.

Shares of LUPIN LTD. was last trading in BSE at Rs.1892.1 as compared to the previous close of Rs. 1795.35. The total number of shares traded during the day was 294641 in over 19024 trades.

The stock hit an intraday high of Rs. 1939.9 and intraday low of 1815.5. The net turnover during the day was Rs. 558001069.

Source : Equity Bulls

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