Lupin shares rise nearly 4% on drug launch
Lupin shares gained 3.82% to settle at Rs 1,084.05 on BSE
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New Delhi: Shares of Lupin today rose by nearly 4% after the company announced the launch of generic version of a conjunctivitis drug in the US market.
The stock gained 3.82% to settle at Rs 1,084.05 on BSE. During the day, it jumped 4.91% to Rs 1,095.50. At NSE, shares of the company went up by 3.84% to close at Rs 1,084.
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The stock was the biggest gainer among the Sensex and Nifty components.
On the volume front, 2.47 lakh shares of the company were traded on BSE and over 51 lakh shares changed hands at NSE during the day.
The launch follows receipt of approval from the US Food and Drug Administration (USFDA) earlier for Moxifloxacin Hydrochloride Ophthalmic solution 0.5%, the company said in a statement. The product is produced at Lupin’s Pithampur manufacturing facility, it added.