This global biotech company receives tentative approval from US FDA!

The company is committed to research and development, allocating 7.9 per cent of its revenue to this area in FY23.

Lupin is a Mumbai-based pharmaceutical company with a global presence. The company specializes in developing and marketing a wide range of branded and generic drugs, biotechnology products, and APIs. Lupin operates in over 100 markets, including the U.S., India, South Africa, and various regions across the Asia Pacific, Latin America, Europe, and the Middle East. It holds a strong position in the cardiovascular, anti-diabetic, and respiratory segments and is also active in areas such as anti-infectives, gastro-intestinal and central nervous system.

Lupin is the third-largest pharmaceutical company in the U.S. based on prescriptions. The company is committed to research and development, allocating 7.9 per cent of its revenue to this area in FY23. With 15 manufacturing sites, 7 research centers, Lupin is recognized as a top employer in the biotechnology and pharmaceutical sector.

Lupin Limited, a global pharmaceutical company, has received tentative approval from the U.S. Food and Drug Administration (FDA) for its Abbreviated New Drug Application (ANDA) of Dolutegravir Tablets for Oral Suspension, 5 mg. This medication is a generic equivalent of Tivicay PD Tablets for Oral Suspension, 5 mg, manufactured by ViiV Healthcare Company. Lupin will produce this product at its facility in Nagpur, India. The reference listed drug (RLD) Tivicay PD had estimated annual sales of $1 million in the U.S. market according to IQVIA MAT March 2023 data.

The company has delivered returns of 41.8 per cent over the past year and returns of 3.5 per cent over the past 3 years. Additionally, the company has a dividend payout ratio of 18.2 per cent.

On Tuesday shares of this company surged by 0.21 per cent and traded at Rs 894.35.

Investors should keep a close eye on this trending stock.