Shares of Pharma Major Lupin were trading 2% lower on 23 October despite the company receiving approval from USFDA (the United States Food and Drug Administration).

In its regulatory filing, the company said that it has received approval from the USFDA for its Abbreviated New Drug Application for Fluconazole Tablets USP, 50 mg, 100 mg, 150 mg, and 200 mg.

The drug is a generic equivalent of Diflucan Tablets, 50 mg, 100 mg, 150 mg, and 200 mg; Pfizer Inc makes that.

According to its filing, the drug will be manufactured at the company’s PIthampur facility in India.

The Fluconazole tablets USP have an estimated annual aisles of $43 million in the US, according to the data presented by IQVIA MAT data in July 2023.

Lupin is an innovation-led pharmaceutical company that has its headquarters located in Mumbai, India. The company is in the business of developing a wide range of branded and generic formulations, APIs (active pharmaceutical ingredients) and biotechnology products.

At 3:30 pm, the shares of Lupin closed 1.58% below at Rs 1,161 on NSE.