On 17 August, shares of Lupin Ltd hit a new 52-week high of Rs 1,143.95 on NSE after the company announced that it had received approval for multiple drugs.

The company announced on Wednesday that it had received approval on multiple new drug applications, including its Bromfenac Ophthalmic solution, which is used for pain or swelling of the eyes following cataract surgery. 

The global pharma also received USFDA (US Food and Drug Administration) approval for its Metoprolol Succinate Extended-Release Tablets USP, 25 mg, 50 mg, 100 mg, and 200 mg. The tablets are beta-blockers used to treat angina (chest pain), heart failure, and high blood pressure. 

The drug is a generic of Sequel Therapeutics Toprol-XL® Tablets, 25 mg, 50 mg, 100 mg and 200 mg and has an estimated annual sales of $305 million in the US, according to IQVIA MAT June 2023 data.

The Bromfenac Ophthalmic Solution 0.09% is a generic equivalent of Bromday Ophthalmic Solution, 0.09%, of Bausch and Lomb Inc. It has an estimated annual sales of $11 million in the US, according to IQVIA MAT June 2023 data.

Moreover, Lupin has also announced that it is set to launch its patient support program, “Jeet”, that will offer cardiovascular care services. 

At 3:30 pm, the shares of Lupin Ltd closed at Rs 1,090 or 2.05% below its previous close of Rs 1,112.85 on NSE.