SME Times News Bureau | 04 Nov, 2014
Pharmaceutical major Lupin Monday said that it has received final approvals for its anti-arthritis medicine Celecoxib Capsules by the US Food and Drugs Administration (FDA).
The approval will allow the company to market the cheap generic version of the original G.D. Searle medicine, a subsidiary of Pfizer in the US.
The Celebrex Capsules have annual U.S sales of USD 2.44 billion.
"Currently there is a limited competition for the product and the company can, conservatively garner sales of USD 50-60 million for the 50 mg capsules. We maintain our (position as) neutral, on back of valuations," said Sarabjit Kour Nangra, vice president research - pharma, of equity trading firm Angel Broking.
