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  1. Lupin gains after US court lifts restrictions on overactive bladder treatment drug

Lupin gains after US court lifts restrictions on overactive bladder treatment drug

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2 min read • Updated: May 13, 2024, 1:09 PM

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Summary

In a regulatory filing, Lupin said that a court in the United States lifted the temporary restraining order on sale of Mirabegron ER in the country. The shipment of the product has resumed after the US court order.

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Lupin shares extend gains after US court lifts restraining order on overactive bladder treatment drug

Shares of Lupin Ltd gained on Monday after the pharma company announced about securing a favourable order from a court in the United States on overactive bladder treatment drug.

In a regulatory filing, the company informed the stock exchanges that a US court has lifted the temporary restraining order on its drug Mirabegron ER, which is used in treatment of overactive bladder.

The company said that the court also rejected the plea by Astellas Pharma Global Development Inc for a preliminary injunction on Mirabegron ER Tablets. It informed the bourses that after the US court’s order the shipment of the product has now resumed.

The drug Mirabegron is used in the treatment of an overactive bladder (OAB), which causes incontinence or lack of bladder control.

Mirabegron is also used in the treatment of neurogenic detrusor overactivity (NDO).

“Mirabegron ER Tablets, 25 mg, are a generic equivalent of Myrbetriq® Extended-Release Tablets, 25 mg of Astellas Pharma Global Development, Inc., and were launched by Lupin in April 2024,” the company said.

In a separate filing on Friday, May 10, the company informed the bourses about the allotment of 5,000 stock options of ₹2 to its employees, under the Lupin Employees Stock Option Plan 2014.

“As approved by the Nomination and Remuneration Committee of the Company, 5000 stock options of a ₹2.00 each were granted to an employee of the Company under Lupin Employees Stock Option Plan 2014, with vesting schedule of 25%:25%:25%:25% over four years upon completion of one year from the date of grant,” the company said.

Shares of Lupin Ltd were trading 1.07% higher at ₹1,625.75 apiece on the NSE at 12:16 pm.