1. Lupin shares up nearly 4% on drug launch

Lupin shares up nearly 4% on drug launch

Shares of Lupin today rose by nearly 4 per cent after the company announced the launch of generic version of a conjunctivitis drug in the US market. The stock gained 3.82 per cent to settle at Rs 1,084.05 on BSE.

By: | Published: July 5, 2017 5:25 PM
At NSE, shares of the company went up by 3.84 per cent to close at Rs 1,084. (Image: Reuters)

Shares of Lupin today rose by nearly 4 per cent after the company announced the launch of generic version of a conjunctivitis drug in the US market. The stock gained 3.82 per cent to settle at Rs 1,084.05 on BSE. During the day, it jumped 4.91 per cent to Rs 1,095.50. At NSE, shares of the company went up by 3.84 per cent to close at Rs 1,084.

The stock was the biggest gainer among the Sensex and Nifty components. On the volume front, 2.47 lakh shares of the company were traded on BSE and over 51 lakh shares changed hands at NSE during the day.

The launch follows receipt of approval from the US Food and Drug Administration (USFDA) earlier for Moxifloxacin Hydrochloride Ophthalmic solution 0.5 per cent, the company said in a statement. The product is produced at Lupin’s Pithampur manufacturing facility, it added.

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