Lupin gets approval for Betamethasone Dipropionate Ointment USP

Pharma major Lupin Limited (Lupin) announced today that it has received approval for its Betamethasone Dipropionate Ointment USP (Augmented), 0.05%, from the United States Food and Drug Administration (USFDA), to market a generic equivalent of Diprolene Ointment, 0.05%, of Merck Sharp and Dohme Corp. The product will be manufactured at Lupin’s Pithampur (Unit 3) facility, India.
Betamethasone Dipropionate Ointment USP (Augmented), 0.05%, is a corticosteroid indicated for the relief of the inflammatory and pruritic manifestations of corticosteroid-responsive dermatoses in patients 13 years of age and older.
Betamethasone Dipropionate Ointment USP (Augmented), 0.05%, (RLD: Diprolene) had an annual sale of approximately $22mn in the U.S. (IQVIA MAT September 2019).

Stock View: 
Lupin Ltd is currently trading at Rs773.85 up by Rs3.15 or 0.41% from its previous closing of Rs770.70 on the BSE.
The scrip opened at Rs771.10 and has touched a high and low of Rs777.25 and Rs769 respectively. So far 6,50,385 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs34,896.93cr.

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