Lupin launches clobetasol propionate ointment in US
Shares of Lupin were slightly up after the company launched generic clobetasol propionate ointment in the US.
Clobetasol propionate ointment USP, 0.05% is the generic equivalent of Fougera Pharmaceuticals Inc.'s Temovate Ointment, 0.05%. The ointment is a super-high potency corticosteroid indicated for the relief of the inflammatory and pruritic manifestations of corticosteroid-responsive dermatoses.
Clobetasol Propionate Ointment USP 0.05% had annual sales of approximately US$ 93.4 million in the US (IQVIA MAT June 2018).
Pharma major Lupin is engaged in producing, developing and marketing a range of branded and generic formulations, biotechnology products and active pharmaceutical ingredients (APIs) across the world. The company offers products in the cardiovascular, diabetology, asthma, pediatrics, central nervous system, gastro-intestinal, anti-infectives and non-steroidal anti-inflammatory drug therapy areas. The company along with its subsidiaries has manufacturing locations spread across India, Japan, the United States, Mexico and Brazil.
On Wednesday, the shares of Lupin opened at Rs 857 against Tuesday’s close of Rs 865.5 per share on the BSE. But at 14:15 hours, the shares of the company were trading at Rs. 863.80, down by 0.20 per share on the BSE. Its intraday high was Rs. 884.45 and intraday low was Rs. 856.60 per share on the BSE. Its 52-week high was RS. 1090 and 52-week low was Rs. 723.55 per share on the BSE.
Meanwhile,BSE Sensex was at 34,786.26 level, up by 1.42 per cent or 489.72 points.