In early trade on January 24, Lupin’s shares saw an uptick after the pharmaceutical company received approval from the United States Food and Drug Administration (USFDA) for tablets aimed at reducing the risk of stroke.
As of 10:13 am, Lupin was quoting ₹1,455.80, reflecting a 1.15% increase on the NSE.
The company announced, “The company has received the tentative approval from the United States Food and Drug Administration (USFDA) for its Abbreviated New Drug Application (ANDA) for Rivaroxaban Tablets USP, 2.5 mg, 10 mg, 15 mg, and 20 mg, to market a generic equivalent of Xarelto Tablets, 2.5 mg, 10 mg, 15 mg, and 20 mg, of Janssen Pharmaceuticals, Inc.”
This newly approved product will be manufactured at Lupin’s Pithampur facility in India, marking a significant milestone for the company in expanding its pharmaceutical portfolio. Investors are closely monitoring Lupin’s developments in the healthcare sector amid its strategic moves to enhance its product offerings.