"The company (Lupin) has received tentative approval from the United States Food and Drug Administration (USFDA) for its abbreviated new drug application (ANDA) for Brivaracetam Tablets," Lupin said
ICICI Securities said Lupins performance was below expectations due to a dip in US sales and lower gross margin. It said US sales would remain under pressure and multiple ongoing USFDA issues would weigh on new approvals.
The significant jump in June quarter net profit was on account of robust sales and income received from biopharmaceutical firm Boehringer Ingelheim for achieving key milestones for its novel MEK inhibitor compound collaboration.