Moneycontrol
Dec 01, 2016 06:29 PM IST IST | Source: Moneycontrol.com

Lupin up 2% on pact with Eli Lilly to sell Eglucent in India

Lupin shares gained more than 2 percent intraday Thursday on expansion of partnership with US pharma company Eli Lilly in India and USFDA approval for cholesterol-lowering drug.


Moneycontrol Bureau


Lupin shares gained more than 2 percent intraday Thursday on expansion of partnership with US pharma company Eli Lilly in India and USFDA approval for cholesterol-lowering drug.


"Lupin and Eli Lilly today announced an expansion of their partnership in India with the launch of Eglucent, a new brand of Lilly's rapid-acting insulin analog Lispro," the pharma major said in its filing.


According to the agreement, Lupin will market and sell Eglucent through its own specialty field force while Lilly will be responsible for manufacturing and import.


Lilly will continue to sell Lispro under the brand name Humalog through its existing channels.


Lupin had earlier collaborated with Lilly in July 2011 to promote and distribute Lilly's Huminsulin range of products in India and Nepal.


"Our entry into the rapid-acting insulin analog segment will not only bolster our existing diabetes portfolio but will also go a long way in strengthening position in the Indian pharma market," Shakti Chakraborty, Group President, Indian Region Formulations, Lupin said.


Eglucent is used for the treatment of patients with diabetes mellitus. It is an injectable medication designed to improve blood sugar control in patients with type 1 and 2 diabetes.


In addition, Lupin's Swiss subsidiary has received an approval from the United States Food and Drug Administration for Antara capsules that is prescribed to lower cholesterol.

At 12:27 hours IST, the stock was quoting at Rs 1,519.95, up Rs 16.75, or 1.11 percent on the BSE.

Posted by Sunil Shankar Matkar

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