Lupin in limelight, stock in bullish reversal

Pharma major Lupin bagged tentative USFDA approval for its generic Nudovra tablets. Nudovra includes 3 and 1 mg Estradiol Valerate tablets and 2 mg/ 2mg and 2 mg/ 3 mg Estradiol Valerate and Dienogest tablets. The company got USFDA approval to market this generic version of Natazia tablet belonging to Bayer Healthcare Pharmaceuticals.

Nudovra is an estrogen/progestin combined oral contraceptive to be used by women to prevent pregnancy. The tablet reported annual sales of nearly 31.4 million US$ in the US market, as per IQVIA MAT June 2018 data.

Lupin has also launched a generic clobetasol propionate skin cream with USP 0.05 per cent in US which is equivalent of Temovate cream. It is a super-high potency corticosteroid which is used to cure inflammatory and pruritic manifestations of corticosteroid-responsive dermatoses.

Meanwhile, Lupin’s US major has recalled 11,706 bottles of hypertension drug called lisinopril tablets from the US. The recall was in the wake of presence of metal contaminant found in a tablet.

The stock of Lupin Limited is off its 52-week low and has witnessed trend reversal, recently. The stock has also given a small downward sloping trendline breakout at Rs. 879 per share on August 21 with reasonable volumes and 1-period RSI quoting above 60 suggesting upside momentum.