Shares of Lupin hit a 52-week high of Rs 1,345.75 on 28 December after the company received approval from the USFDA (US Food and Drug Administration) for Loteprednol Etabonate Ophthalmic Suspension.

In its regulatory filing, the company said that it has received approval from the USFDA for its ANAD (abbreviated new drug application) for for Loteprednol Etabonate Ophthalmic Suspension, 0.2%.

The drug is used for temporary relief of the signs and symptoms of seasonal allergic conjunctivitis and will be manufactured at the company’s Pithampur facility in India.

The drug is a generic equivalent to the RLD (reference listed drug), Alrex Ophthalmic Suspension, 0.2%, of Bausch & Lomb Inc.

Earlier, the company’s wholly-owned subsidiary, Lupin Atlantis Holdings SA, Switzerland, signed an asset purchase agreement with Sanofi to acquire a portfolio of established products in Europe and Canada.

The company had also received approval from the USFDA for its ANAD for Allopurinol tablets USP, 100 mg and 300 mg.

At 3:30 pm, the shares of Lupin closed 3.88% higher at Rs 1,338 on NSE.