Lupin closes high on launch of overactive bladder symptom treatment tablets in US

Shares of Lupin Ltd gained nearly 4% on Monday, April 22, after the company announced the launch of Mirabegron Extended-Release Tablets 25 mg in the United States.

The pharma giant announced the launch of the Mirabegron extended release tablets after receiving the approval for the medicine from the United States Food and Drug Administration (USFDA).

In a filing to the stock exchanges, the company said that the annual sales of Mirabegron tablets are estimated to be $1019 million in the US market.

Mirabegron 25mg tablets are the generic equivalent of Myrbetriq Extended-Release Tablets, 25 mg of Astellas Pharma Global Development Inc, the company said in a press release.

In a separate filing, the pharma major informed the stock exchanges that its board meeting will be held in May to consider the financial results for the quarter and the full financial year ending March 31, 2024.

The company said that its Board of Directors will meet on May 6, 20224, to consider and approve the yearly financial results of the company for the fourth quarter of FY24 and the dividend.

Lupin, headquartered in Mumbai, manufactures and supplies a wide range of pharma products, including APIs. The company has a presence in more than 100 markets, including South Africa, Asia Pacific, Europe, Latin America, Middle East Regions and the United States.

Lupin has been ranked as the third-largest pharma company in the US by prescriptions. The company has been leading in the cardiovascular, respiratory, and anti-diabetic segments while gaining traction in the women's health, central nervous system, gastro-intestinal and anti-infective segments.

Shares of Lupin Ltd closed 3.95% higher at ₹1,608.7 apiece on the NSE on Monday.