Lupin shares surged over 3% after the pharmaceutical major announced the launch of Mirabegron Extended-Release tablets (25 mg) in the United States. This drug has over $1 billion in sales in the country, and Lupin received approval from the Food and Drug Administration (US FDA) for its launch.
As of 11:45 am, the shares were trading 3.30% higher at ₹1,598.65 on the National Stock Exchange (NSE).
Mirabegron Extended-Release tablet is a generic equivalent of Myrbetriq Extended-Release tablets of Astellas Pharma Global Development, Inc. These tablets are used to treat overactive bladder (OAB) symptoms, such as frequent or urgent urination and urinary incontinence.
According to IQVIA MAT February 2024, Mirabegron Extended-Release tablets had estimated annual sales of $1,019 million in the US.
Headquartered in Mumbai, Lupin develops and sells a wide range of branded and generic medications, biotechnology products, and Active Pharmaceutical Ingredients (APIs). Its products are available in over 100 markets, including the US, India, South Africa, and regions across Asia Pacific (APAC), Latin America, Europe, and the Middle East.
Lupin focuses on cardiovascular, anti-diabetic, and respiratory medications and also operates in areas like anti-infective, gastro-intestinal (GI), central nervous system (CNS), and women’s health. In the US, Lupin ranks as the third-largest pharmaceutical company by prescriptions. In the financial year 2022-23, Lupin invested 7.9 percent of its revenue in research and development.
With 15 manufacturing sites and 7 research centers globally, Lupin has a workforce of over 20,000 professionals.
