The company made this announcement during trading hours yesterday, 23 June 2007, when the stock declined 1.45% to Rs 679.65.
Meanwhile, the BSE Sensex was up 12.16 points, or 0.09%, to 14,305.48.
On BSE, 720 shares were traded in the counter. The scrip had an average daily volume of 1.16 lakh shares in the past one quarter.
The stock hit a high of Rs 684.90 and a low of Rs 684 so far during the day. The stock had a 52-week high of Rs 745 on 19 July 2007 and a 52-week low of Rs 429.90 on 22 January 2008.
The mid-cap company had outperformed the market over the past one month till 23 June 2008, declining 0.65% compared to the Sensex’s decline of 14.15%. It had also outperformed the market in the past one quarter, gaining 37.32% compared to Sensex’s return of 11.86%.
The company has an equity capital of Rs 82.09 crore. Face value per share is Rs 10.
The current price of Rs 684.90 discounts its Q4 March 2008 annualised EPS of Rs 37.35, by a PE multiple of 18.34.
Suprax 400-milligram (mg) tablet is an antibiotic drug used for treating urinary track infections (UTI) and other bacterial infections. Suprax is a registered trademark of Lupin Pharmaceuticals Inc, which is a wholly owned subsidiary of the company. The antibiotic market for treatment UTI in United States is estimated $450 million
Ascend Therapeutics is a biopharmaceutical company focused on the use of transdermal drug delivery technology to overcome therapeutic barriers and raise the standard of care certain chronic conditions.
On 16 June 2008, Lupin received a tentative approval from US Food & Drug Administration (USFDA) for its escitalopram oxalate tablets in 10 & 20-milligram strengths.
On 11 June 2008, the company received a final approval from US FDA for its abbreviated new drug application for ramipril capsules in multiple strengths.
In April 2008, Lupin’s subsidiary in Japan, Kyowa Pharmaceutical Industry Co, received approvals from the country's ministry of health and labour welfare for 10 products.
Lupin’s net profit declined 44% to Rs 76.64 crore on 19.6% increase in net sales to Rs 619.57 crore in Q4 March 2008 over Q4 March 2007.
Lupin is engaged in manufacturing active pharmaceutical ingredients and formulations.