Shares of Lupin rose 3.12% to Rs 804 in afternoon trade on May 29, after the drugmaker announced that its subsidiary Lupin Pharma Canada has received approval from Health Canada to market generic Spiriva (Tiotropium Bromide) in the country. ammonium inhalation powder).

Spiriva is a medicine used to treat chronic obstructive pulmonary disease (COPD), including chronic bronchitis and/or emphysema, to relieve symptoms such as wheezing, shortness of breath, cough, and chest tightness.

Lupin’s generic tiotropium bromide inhalation powder is expected to provide an affordable alternative for COPD patients in Canada.

Health Canada’s approval marks an important milestone for Lupine, as it enables the company to capitalize on the estimated annual sales of tiotropium bromide inhalation powder of $42 million in the Canadian market. The graph, based on IQVIA MAT data for the fourth quarter of 2022, indicates potential demand for generic drugs.

Shares of Lupin are up 9.8% year-to-date and have gained more than 31% over the past year.

Earlier this month, Lupin posted a consolidated net profit of Rs 236 crore for the January-March quarter, compared with a net loss of Rs 518 crore last year. The company’s profit also beat CNBC-TV18’s estimate of Rs 1,568 crore.

Revenue in the fourth quarter also rose 12.1% year-on-year to Rs 4,330.3 crore. Sales growth came primarily from Europe, the Middle East and Africa, the United States, India and other growth markets.

Also, the improved product mix helped Lupin expand its EBITDA margin in the quarter, up 690 basis points YoY to 14.2% from 7.3% in Q4FY22.