Lupin’s shares hit a fresh yearly high on January 19 after the pharma company received approval from the United States Food and Drug Administration (US FDA) for the launch of its Febuxostat tablets. 

Shares of Lupin hit an intraday high of Rs 1,439.95, up 1% from its last closing price on the National Stock Exchange (NSE). The stock closed 0.16% higher at Rs 1,428.

The global pharma major announced in an exchange filing on January 18 that it has received approval from the US FDA for its Abbreviated New Drug Application for Febuxostat Tablets, 40 mg and 80 mg, to market a generic equivalent of Uloric Tablets of Takeda Pharmaceuticals USA of the same dosage. The product will be manufactured at Lupin’s Pithampur facility.

Febuxostat tablets are formulated for chronic hyperuricemia adult patients with gout who responded inadequately or are intolerant to allopurinol. 

The approval comes just a few days after the regulator approved Lupin’s plan to sell Propranolol Hydrochloride Extended-Release Capsules USP and the launch of Bromfenac Ophthalmic Solution, 0.07%.