Lupin gets USFDA approval for Decitabine for injection

Lupin informed the bourses that it has received US drug regulator's approval for Decitabine, a chemotherapy drug, on Thursday.

Decitabine is an anti-cancer chemotherapy drug. This is used in the treatment of patients with myelodysplastic syndromes. The said Decitabine for Injection had annual sales of around US$ 135.9 million in the US market.

Lupin is a pharmaceutical company developing and delivering a wide range of branded and generic formulations, biotechnology products and APIs globally. It has a market cap of Rs. 38,439 crore.

In the recent quarterly announcement, the company posted muted revenue growth with 41 per cent decline in its net profit. During the recent quarter Q2FY19, the company filed 4 ANDAs and received 5 approvals from the USFDA.

On Thursday, the stock opened at Rs. 836 per share and made an intraday high of Rs. 852.90 per share, jumped by almost 2 per cent on the BSE.