Shares of the Mumbai-based drug maker - Lupin - rose as much as 1.55 per cent to hit an intraday high of Rs 1,170 on the BSE after the company informed exchanges that it has received approval from the US Food and Drug Administration (US FDA) for manufacturing and marketing a drug to treat Onychomycosis.
Lupin received approval to launch Tavaborole Topical Solution, 5 per cent in United States (US) from the United States Food and Drug Administration (FDA). The product will be manufactured at Lupin's facility in Pithampur, Lupin said.
Tavaborole Topical Solution, 5 per cent, is generic equivalent of Kerydin Topical Solution, 5 per cent, of Anacor Pharmaceuticals and is an oxaborole antifungal indicated for the topical treatment of onychomycosis of the toenails due to Trichophyton rubrum or Trichophyton mentagrophytes, Lupin added.
Tavaborole Topical Solution, 5 per cent had an estimated annual sales of $53 million in the US, Lupin said citing IQVIA MAT data for the month of May 2021.
As of 2:43 pm, Lupin shares traded 1 per cent higher at Rs 1,165, outperforming the Sensex which was up 0.7 per cent.