Lupin receives USFDA approval for Mycophenolate Mofetil tablets

Lupin Limited announced on Thursday that it has received approval from United States Food and Drug Administration (USFDA) for Mycophenolate Mofetil tablets USP, 500 mg, to market a generic version of CellCept® tablets of Roche Palo Alto LLC (Roche) in alliance with Concord Biotech Limited.

Mycophenolate Mofetil tablets are used for the prophylaxis of organ rejection in the recipients of allogeneic kidney, liver, or heart transplants, in combination with other immunosuppressants. After an organ transplant, the human body tries to reject the new organ and might treat it as a foreign object. This medicine weakens the body's immune system for the time being so that, it doesn’t attack or reject the transplanted organ.

Mycophenolate Mofetil tablets USP, 500 mg (RLD: CellCept®) had annual sales of approximately USD 96 million in the US (IQVIA MAT Mar 2020).

The stock closed at 935.50, up by 0.81 per cent or Rs 7.5 per share. The intraday high is Rs 945.80  and the intraday low is Rs 925.50. Since the beginning of the year, the stock has given a return of 21 per cent thereby underperforming Nifty pharma index, which gave a return of  41 per cent.