Lupin Ltd shares surged to a fresh 52-week high on Friday after the global pharmaceutical major announced on January 18 that it had received approval from the United States Food and Drug Administration (U.S. FDA) for its Abbreviated New Drug Application for Febuxostat Tablets, 40 mg and 80 mg. This approval allows Lupin to market a generic equivalent of Uloric® Tablets, 40 mg and 80 mg, originally produced by Takeda Pharmaceuticals U.S.A., Inc. The manufacturing of the approved product will take place at Lupin’s Pithampur facility in India.
The current market price of Lupin shares on BSE stands at Rs 1434.00 apiece, reflecting an intraday gain of 0.62%. Lupin shares had also hit a 52-week high on January 18, accompanied by a significant increase in trading volume, exceeding 2.17 times the average. The company boasts a market capitalization of Rs 65,293.83 crore.
As of 10:39 am, Lupin Ltd shares were trading at ₹1,429.40, maintaining the positive momentum following the U.S. FDA approval.
