US FDA Allows Lupin for Generic Version of Lipitor

Posted AtTopnews.co.uk

The US Food and Drug Administration has granted approval to the Indian generic-drug maker Lupin Ltd. for a generic version of Pfizer Inc.'s Cholesterol drug Lipitor. Also, reports have said that Lupin has gained 1.83% to Rs.367.15 at 14:26 IST on BSE. At 09:28 hours, the shares were at Rs. 364.80, up Rs. 4.25, or 1.18%.

In addition to this, the BSE Sensex had also fallen 2.70 points, or 0.01% to 18,235.61. In the past one quarter on BSE, an average daily volume of 28,722 shares were traded; whereas, this time, 73,365 shares were traded in the counter.

Where on one hand the Company has reached an intraday high of Rs. 367, there on the other hand,it has also touched an intraday low of Rs. 360.35. On 28 July 2010, these stocks had hit a record high of Rs. 397, and also, on 3 September 2009, it had hit a 52-week low of Rs. 190.

Even though, the Sensex has reported a rise of 0.87%, yet the large-cap stock underperformed the market in the last one month till 2 September 2010, which has shown a drop by 5.26%. Even in the last one quarter, when the Sensex had returned to 8.94%, this large-cap stock had underperformed in the market declining 2.25%.

Sep 07, 2010