Lupin falls; Mylan launches cholesterol drug

Mylan Inc said in a statement on Friday its unit Mylan Pharmaceuticals Inc has shipped generic Tricor, or fenofibrate tablets, of 48 mg and 145 mg. Mylan compete against Lupin, which also sells generic versions of Tricor.

May 20, 2013 / 13:45 IST

Shares in Lupin Limitedslump 4 percent after earlier falling as much as 4.7 percent following the launch of rival Mylan Inc's generic version of the cholesterol-lowering Tricor tablets.

Mylan Inc said in a statement on Friday its unit Mylan Pharmaceuticals Inc has shipped generic Tricor, or fenofibrate tablets, of 48 mg and 145 mg.

Also read: BSE Sensex up 120; Indian rupee hits 2.5-month low

Mylan compete against Lupin, which also sells generic versions of Tricor.

"Mylan's launch of Tricor will result in higher competition and decline in Lupin's market share in a drug which has a market size of USD 1.2 billion," said Ranjit Kapadia, senior vice president at Centrum Broking.

first published: May 20, 2013 11:12 am

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Lupin falls; Mylan launches cholesterol drug

Mylan Inc said in a statement on Friday its unit Mylan Pharmaceuticals Inc has shipped generic Tricor, or fenofibrate tablets, of 48 mg and 145 mg. Mylan compete against Lupin, which also sells generic versions of Tricor.

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