Lupin announced today that its US subsidiary Lupin Pharmaceuticals has launched its Valsartan tablets USP, 40 mg, 80 mg, 160 mg and 320 mg, the generic for Novartis Pharmaceuticals Corporation's (Novartis). Diovan tablets 40 mg, 80 mg, 160 mg and 320 mg strengths, has received final approval from the United States Food and Drug Administration (FDA).

Lupin's Valsartan tablets 40 mg, 80 mg, 160 mg and 320 mg are the AB rated generic equivalent of Novartis' Diovan tablets and is indicated for the treatment of hypertension and heart failure. Diovan tablets had annual US sales of USD 2.08 billion.

Shares of the company declined Rs 35.15, or 2.46%, to settle at Rs 1,394.55. The total volume of shares traded was 47,813 at the BSE (Tuesday).