Lupin announced that it has received approval for its Tadalafil Tablets USP, 20 mg from the United States Food and Drug Administration (FDA) to market a generic version of Eli Lilly and Company’s Adcirca Tablets, 20 mg.
Lupin receives USFDA approval for Tadalafil Tablets
Pharma major Lupin announced that it has received tentative approval for its Tadalafil Tablets USP, 20 mg from the USFDA to market a generic version of Eli Lilly and Company’s (Lilly) Adcirca Tablets, 20 mg.
Lupin’s Tadalafil Tablets USP, 20 mg is the generic version of Lilly’s Adcirca Tablets, 20 mg. It is indicated for the treatment of pulmonary arterial hypertension (PAH) (WHO Group 1) to improve exercise ability.
Adcirca Tablets, 20 mg, had annual sales of ~$503.8mn in the US, as per IQVIA MAT September 2018 data.
Lupin Ltd is currently trading at Rs.848.05 up by Rs.5.25 or 0.62% from its previous closing of Rs.842.80 on the BSE.
The scrip opened at Rs.841 and has touched a high and low of Rs.855 and Rs.840.50 respectively.
Lupin manufacturers branded and generic formulations, biotechnology products, and APIs. It generated 32% revenue from the US business; 31% from India; 16% from APAC; 7% from EMEA (Europe, Middle-East and Africa); 4% from LATAM and RoW markets; and 9% from API in Q2FY19. In the domestic business, the company largely derives revenue from chronic therapies, accounting for 65% of its domestic revenue.
Net profit fell by 17% y-o-y to Rs. 332.2 crore from Rs. 400.5 crore.
Revenue rose by 2.4% y-o-y to Rs. 4,077.5 crore from Rs. 3,914 crore.
EBITDA slipped by 13.6% y-o-y to Rs. 707.7 crore from Rs. 818.7 crore.
Cipla spurts after announcing Q3 result
Cipla gained 4.55% to Rs 532 at 15:15 IST on BSE after after the company announced its Q3 December 2018 result during market hours today, 6 February 2019.
Meanwhile, the S&P BSE Sensex was up 350.87 points, or 0.96% to 36,967.68
On the BSE, 3.13 lakh shares were traded in the counter so far compared with average daily volumes of 1.07 lakh shares in the past two weeks. The stock had hit a high of Rs 536 and a low of Rs 504.40 so far during the day.
Cipla’s consolidated profit after tax fell 17% to Rs 332 crore on 2% rise in total revenue from operations to Rs 4008 crore in Q3 December 2018 over Q3 December 2017.
Consolidated earnings before interest, taxes, depreciation and amortization (EBITDA) fell 12% to Rs 720 crore in Q3 December 2018 over Q3 December 2017.
Umang Vohra, MD and Global CEO, Cipla said the company’s US business has delivered strongly in Q3 December 2018 as a result of scale-up of new launches.
Cipla is a global pharmaceutical company focused on agile and sustainable growth, complex generics, and deepening portfolio in home markets of India, South Africa, North America, and key regulated and emerging markets.
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