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Lupin share price rises 5% on US FDA approval

The generic Albuterol Sulphate MDI will be manufactured at its Indore (Unit III) facility in India.

August 25, 2020 / 10:00 AM IST
 
 
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Lupin share price rose 5 percent intraday on August 25 after the company received approval from the United States Food and Drug Administration (US FDA) for inhalation product for asthma patients.

The company has received approval from the USFDA for its Albuterol Sulfate Inhalation Aerosol, 90 mcg (base)/actuation, a generic version of ProAir HFA.

The generic Albuterol Sulphate MDI will be manufactured at its Indore (Unit III) facility in India.

"The approval is timely as Albuterol MDI is a key rescue inhalation product for asthma patients who are at an increased risk of COVID-related complications. We look forward to launching the product this quarter and expect a steady ramp-up through the fiscal year," said Vinita Gupta, CEO, Lupin.

At 09:37 hrs, Lupin was quoting at Rs 987.00, up Rs 16.90, or 1.74 percent on the BSE.
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first published: Aug 25, 2020 10:00 am