The leading pharmaceutical company Lupin has been approved by the US Drug Regulatory UFDA for a new drug.
Lupine has got USFDA approval for Tadalafil, which is used in the treatment of hypertension in the pulmonary artery and hypertension in the prostate gland. The total sales in the US in the year 2018 were $ 473.4 million.
However, despite the new drug approval, Lupine’s stock is in weak position today. Actually, the company had declared its financial results yesterday. Explain that Lupine had a net loss of Rs 151.75 crore in the October-December quarter of 2018, compared to a profit of Rs 221.73 crore in the same period last year.
In fact, the company had an unusual loss of Rs 342 crore in Perindopril case in Europe during the quarter, which affected its profits. However, the analysts had estimated Lupine’s profits of 268 crores. Lupine’s net income grew by 12.24% to Rs 4,377.94 crore compared to Rs 3,900.36 crore.
Lupine shares in BSE open at Rs 825.35 with weakness compared to last
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