Shares of Lupin Ltd crashed 5% on 11 February despite the US Food and Drug Administration’s (USFDA) approval of the company’s nasal spray.
The USFDA granted the company’s Abbreviated New Drug Application (ANDA) for Ipratropium Bromide Nasal Solution (Nasal Spray), 0.03% (21 mcg/spray) to commercialize a generic version of Boehringer Ingelheim Pharmaceuticals, Inc.’s Atrovent Nasal Spray, 0.03%.
The product will be made in Lupin’s Pithampur factory in India.
Ipratropium Bromide Nasal Solution is used to treat rhinorrhea symptoms associated with both allergic and nonallergic perennial rhinitis in adults and children aged six and above.
Earlier on 10 February, the USFDA approved Natco Pharma’s ANDA for 32 mg oral suspension of bosentan tablets, allowing the business and its alliance partner to commercialize a generic version of Actelion Pharmaceuticals US, Inc.’s Tracleer Tablets for Oral Suspension.
Natco is the exclusive first-to-file for the product and is entitled to 180 days of exclusivity.
Moreover, the company’s board of directors will meet today to review and approve the unaudited standalone and consolidated financial statements for the quarter and nine months ending 31 December 2024.
At 11:58 pm, the shares of Lupin were trading 4.90% lower at Rs 2,063.20 on NSE.
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