Lupin gains on launch of generic version of doxycycline capsules in US

Lupin share price | The share touched a 52-week high of Rs 1,703.80 and a 52-week low of Rs 655.75 on 11 March, 2024 and 17 April, 2023, respectively.

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Shares of Lupin gained 1 percent in the early trade on April 10 after the company launched its first generic version of Oracea (doxycycline capsules) in the US.

At 9:32am, Lupin was quoting Rs 1,621.30, up Rs 16.25, or 1.01 percent, on the BSE.

“The company has announced the launch of first generic version of Oracea (doxycycline capsules, 40 mg), in the United States, after having received an approval from the United States Food and Drug Administration (US FDA),” it said in its press release.

Doxycycline capsule is indicated for the treatment of inflammatory lesions (papules and pustules) of rosacea in adult patients.

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The company is recalling 26,352 bottles of Rifampin capsules, used in the treatment of all forms of tuberculosis, in the US market because it was identified to be a sub-potent drug.

The drug was manufactured in Lupin’s Aurangabad plant and was sold by the US arm of Lupin. The recall was initiated on March 21. This was a Class II recall according to the US FDA.

In March, the company received Form 483 from the US FDA with one observation for its Aurangabad facility, after the regulator inspected its manufacturing facility at Aurangabad from March 6 to 15.

The share touched a 52-week high of Rs 1,703.80 and a 52-week low of Rs 655.75 on March 11, 2024 and April 17, 2023. The stock is trading 4.84 percent below its 52-week high and 147.24 percent above its 52-week low.