Lupin rises on US regulator approval for Sevelamer Carbonate oral suspension

Sevelamer carbonate oral suspension had an estimated annual sales of USD 51.7 million as of September 2021

Shares of homegrown pharma major, Lupin Limited were trading higher by 2 per cent intraday today after the company received approval from the United States Food and Drug Administration (USFDA) for Sevelamer Carbonate oral suspension. 

The approval for the Sevelamer Carbonate was received for the strengths of 0.8 g and 2.4 g packets. The drug is the generic equivalent of Renvela for Oral Suspension, 0.8 g and 2.4 g Packets of Genzyme. The product will be manufactured at the company’s Goa facility in India, the company said in its filing to the BSE. 

According to September 2021 MAT data from IMS Health (IQVIA), Sevelamer carbonate for oral suspension had an estimated annual sales of USD 51.7 million. 

Last week, the company received tentative approval from the USFDA for Azilsartan Medoxomil Tablets, 40 mg, and 80 mg to market a generic equivalent of Edarbi Tablets, 40 mg, and 80 mg, of Arbor Pharmaceuticals, LW. Citing IQVIA moving annual total (MAT) September 2021 data, the company said the Azilsartan Medoxomil tablets had estimated annual sales of USD 103.4 million in the US. 

Lupin Limited is a pharmaceutical company engaged in producing, developing and marketing a range of branded and generic formulations, biotechnology products and active pharmaceutical ingredients (APIs) across the world. It offers products in the cardiovascular, diabetology, asthma, paediatrics, central nervous system, gastro-intestinal, anti-infectives and non-steroidal anti-inflammatory drug therapy areas. 

At 2 pm on Monday, the stock of Lupin Limited was seen trading at Rs 913.75, up by 1.85 per cent or Rs 16.60 per share as against a 0.46 per cent gain on the benchmark index. The 52-week high of the scrip is recorded at Rs 1,267.50 and the 52-week low at Rs 854 on the BSE.