Angel Broking has maintained 'Buy' on Lupin with a price target of Rs 655 in its report dated Dec. 20, 2012.
Pharma major, Lupin, announced that its subsidiary Lupin Pharmaceuticals has received final approval for its Drospirenone and Ethinyl Estradiol Tablets, 3 mg / 0.03 mg from the United States Food and Drugs Administration (FDA) to market a generic version of BayerHealthcare's (Bayer) Yasmin Tablets 3 mg / 0.03 mg.
Lupin's Drospirenone and Ethinyl Estradiol Tablets are the AB rated generic equivalent of Bayer's Yasmin Tablets 3 mg /0.03 mg. Yasmin Tablets had annual US sales of approximately USD 275 million (IMS MAT Sept 2012 sales). On a conservative side the company can garner sales of around USD 30 million and net profit of USD 9-10 million.
Click here to view full report
Disclaimer: IRIS has taken due care and caution in compilation of data for its web site. Information has been obtained by IRIS from sources which it considers reliable. However, IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website.