/ Lupin Receives Tentative Approval For Generic Giazo Tablets ~ Ways2Capital|Stock Tips|Stock Market Tips|Intraday Stock Tips|Stock Trading Tips|NSE BSE Tips

Thursday, 29 December 2016

Pharma Major Lupin Limited announced today that it has received tentative approval for its Balasalazide Disodium Tablets, 1.1 gm from the United States Food and Drug Administration (FDA) to market a generic version of Salix Pharmaceuticals Inc’s Giazo® Tablets, 1.1 gm.

The filing is from Lupin’s Goa manufacturing facility. Lupin’s Balasalazide Disodium tablets 1.1 gm are the AB rated generic equivalent of Salix Pharmaceuticals Inc’s Giazo Tablets, 1.1 gm.

Balasalazide Disodium tablets are indicated for the treatment of mildly to moderately active ulcerative colitis in male patients 18 years of age and older. Giazo Tablets had US sales of USD 0.79 million (IMS MAT September 2016). Lupin Ltd is currently trading at Rs 1455.7, up by Rs 3.55 or 0.24% from its previous closing of Rs 1452.15 on the BSE.

The scrip opened at Rs 1456 and has touched a high and low of Rs 1465.1 and Rs 1452.2 respectively. So far 287324(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 65555.24 crore.

The BSE group 'A' stock of face value Rs 2 has touched a 52 week high of Rs 1911.55 on 09-Feb-2016 and a 52 week low of Rs 1294.05 on 29-Mar-2016. Last one week high and low of the scrip stood at Rs 1467 and Rs 1399 respectively. The promoters holding in the company stood at 46.74 % while Institutions and Non-Institutions held 41.85 % and 11.41 % respectively. The stock is currently trading below its 200 DMA.
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