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Pharma major Lupin Ltd. on Tuesday announced the launch of a generic version of Formoterol Fumarate Inhalation Solution, which is used for the treatment of chronic obstructive pulmonary disease (COPD).

Lupin said that it was launching Formoterol Fumarate Inhalation Solution, 20 mcg/2 mL per unit-dose vial, to market a generic equivalent of Mylan Specialty’s Perforomist Inhalation Solution, 20 mcg/2 mL.

Formoterol Fumarate Inhalation Solution had estimated annual sales of $268 million in the United States, according to IQVIA MAT September 2022 data.

Formoterol Fumarate oral inhalation is used to control wheezing, shortness of breath, and chest tightness caused by chronic obstructive pulmonary disease.

Also Read: USFDA completes inspection at Lupin's Mandideep units that received 16 observations

In the September quarter, Lupin’s revenue stood flat at Rs 4,145.5 crore compared to a year ago. The EBITDA margin decreased by 285 basis points to 10.9 percent and the adjusted PAT stood at Rs 134.5 crore.

The stock has fallen over 18 percent in the last year compared to a roughly 9.5 percent rise in the benchmark Sensex index.

In a research report dated November 14, 2022, brokerage firm Sharekhan said it was bullish on the Lupin stock and recommended a ‘buy’ with a target price of Rs 855 per share.

Shares of Lupin ended at Rs 751, up 2.36 percent on Tuesday.

Also Read: USFDA begins inspection of Lupin plant at Mandideep: CNBC-TV18 Exclusive

(Edited by : Rukmani Krishna)