Lupin gets a shot in the arm

Shares of Lupin Limited are up 1.6% at Rs. 864 on NSE, post announcement from the company that it has successfully launched generic Zymaxid ophthalmic solution used in treating bacterial conjunctivitis in the US market, which has an annual size of approximately $ 62.3 million. Being the first to file ANDA, company also has 180 days of marketing exclusivity.

This is the first of the ophthalmic products to be launched in the US from this Mumbai-headquartered branded and generic formulations and APIs maker. Being the fifth largest and fastest growing top 5 generics player in the US and India’s third largest pharma company by sales, Lupin reported FY13 consolidated turnover and PAT of Rs. 9,461 crore and Rs. 1,314 crore respectively. Company had, last Friday, also informed the stock exchanges of the marketing approval it received from US FDA for oral contraceptive vyfemla tablets, having a market size of $ 22.3 million in the US.

Such filings and new launches are indeed commendable for the company in a time when Indian pharma is struggling to keep pace in the highly regulated and most stringent pharma market of the world. Share price, being only a reflecting of company’s working, has surged 36% in the last 6 months.