Moneycontrol Bureau
Shares of Lupin gained a percent intraday Thursday after the drug maker launched generic for arthritis drug, Celebrex in the US.
The pharma major said its US subsidiary, Lupin Pharmaceuticals Inc has launched the authorised generic for GD Searle LLC’s (a subsidiary of Pfizer Inc.) Celebrex capsules 50 mg, 100 mg, 200 mg and 400 mg strengths.
Lupin had earlier signed a licensing agreement with Pfizer Inc. regarding Celebrex that is used for treatment of osteoarthritis, rheumatoid arthritis and acute pain.
Celebrex capsules had annual US sales of USD 2.54 billion, according to IMS MAT September, 2014. Experts feel the drug can generate USD 100 million in revenue in 6-month exclusivity period.
At 14:45 hours IST, the stock was quoting at Rs 1,435, up Rs 4.10, or 0.29 percent on the BSE.
Posted by Sunil Shankar Matkar
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