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Lupin receives USFDA approval for Nikita (Pitavastatin) tablets

Equity tips:-

  • Lupin announced that it has received a 505 (b) (2) NDA approval for its Nikita (Pitavastatin) Tablets 1 mg, 2 mg and 4 mg from the United States Food and Drug Administration (FDA).
  • Lupin’s Nikita (Pitavastatin) Tablets 1 mg, 2 mg and 4 mg are Pitavastatin Sodium, an alternate salt product of Kowa Company Ltd’s Livalo (Pitavastatin Calcium) Tablets.
  • It is a new option for patients with primary hyperlipidemia or mixed dyslipidemia as an adjunctive therapy to diet to reduce elevated total cholesterol, low density lipoprotein cholesterol, apolipoprotein B, triglycerides and to increase high-density lipoprotein cholesterol.
  • Livalo Tablets had US sales of USD 272 million.
  • Lupin is transnational pharmaceutical company developing and delivering a wide range of branded & generic formulations, biotechnology products and APIs globally.
  • The company is a significant player in the Cardiovascular, Diabetology, Asthma, Pediatric, CNS, GI, Anti-Infective and NSAID space and holds global leadership position in the Anti-TB segment.
  • Stock view:-
  • Lupin Ltd ended at Rs 979, up by Rs 4.55 or 0.47% from its previous closing of Rs 974.45 on the BSE.
  • The scrip opened at Rs 979 and touched a high and low of Rs 979 and Rs 979 respectively. A total of 2064(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 44020.57 crore.
  • The BSE group 'A' stock of face value Rs 2 touched a 52 week high of Rs 1729.5 on 09-Aug-2016 and a 52 week low of Rs 964 on 04-Aug-2017. Last one week high and low of the scrip stood at Rs 1060 and Rs 964 respectively.
  • The promoters holding in the company stood at 46.7 % while Institutions and Non-Institutions held 40.67 % and 12.63 % respectively.
  • The stock traded below its 200 DMA.

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