Lupin falls; Mylan launches cholesterol drug
Reuters Market Eye - Shares in Lupin Ltd (LUPN.NS) slump 4 percent after earlier falling as much as 4.7 percent following the launch of rival Mylan Inc's (MYL.O) generic version of the cholesterol-lowering Tricor tablets.
Mylan Inc said in a statement on Friday its unit Mylan Pharmaceuticals Inc has shipped generic Tricor, or fenofibrate tablets, of 48 mg and 145 mg.
Mylan compete against Lupin, which also sells generic versions of Tricor.
"Mylan's launch of Tricor will result in higher competition and decline in Lupin's market share in a drug which has a market size of $1.2 billion," said Ranjit Kapadia, senior vice president at Centrum Broking.
(Reporting by Abhishek Vishnoi)
- Tweet this
- Share this
- Digg this
- UPDATE 2-Girl who fatally shot Arizona gun instructor said weapon was too powerful
- U.S. strikes have slowed Iraq militants but not weakened them - Pentagon
- 100 days of Modi: Good for business, not so good for marginalised groups
- Banks pile pressure on liquor baron Mallya over airline loans
- Comedian Joan Rivers still on life support - daughter
Optimism that sunny growth figures herald an economic revival in India is probably misplaced - in fact there is little hard evidence to support the idea that Asia's third-largest economy is heading for a broader and sustained rebound anytime soon. Full Article
100 days of Modi: Good for business, not so good for marginalised groups. Full Article