Lupin gets tentative approval for fosaprepitant injection

Pharma major Lupin informed the bourses that it has received tentative approval for its fosaprepitant Injection, 150 mg single-dose vial from the USFDA.

The drug is a generic version of Emend for Injection, 150 mg single-dose vial of Merck Sharp & Dohme Corp. The injection helps prevent nausea and vomiting caused by cancer drug treatment (chemotherapy).

As per IQVIA, the said tablets had annual sales of US$312 million in the US market for the most recent 12 months ended March 2019.

Lupin is engaged in developing and delivering branded and generic formulations. It also further produces biotechnology products and APIs, globally. It is also a major player in cardiovascular, diabetology, asthma, paediatric, CNS, GI, anti-infective and NSAID space.

On Tuesday, the stock opened at Rs. 875 per share and made an intraday low of Rs. 840 and finally closed at Rs. 855.95 on the BSE. The stock had hit its 52-week high of Rs. 986 on September 10, 2018 and its 52-week low of Rs. 720.40 on March 28, 2019 on the BSE.