Nifty Pharma index rises 2% as Sun Pharma, Lupin receive USFDA approval

Shares of pharmaceutical companies were in focus with the Nifty Pharma index rising over 2 per cent to 10,623.60 levels in the intra-day deals after Sun Pharmaceutical Industries (Sun Pharma) and Lupin USFDA approval for their respective medicines.

Sun Pharma rose over 3 per cent to an intra-day high of Rs 670.90 on the National Stock Exchange (NSE) after the drug maker announced USFDA approval of XELPROS to treat open-angle Glaucoma or Ocular Hypertension. This approval is from Sun Pharma’s Halol facility.

"XELPROS is the first and only form of latanoprost that is not formulated with benzalkonium chloride (BAK), a preservative commonly used in topical ocular preparations. XELPROSTM is developed using SPARC’s proprietary Swollen Micelle Microemulsion (SMM) technology." it said in a BSE filing earlier today.

On the other hand, Lupin, too, rose 2 per cent to Rs 978.75 on the NSE after the company on Wednesday said it has received nod from the US health regulator to market its Atovaquone oral suspension used for prevention and treatment of a type of pneumonia.

The company has received approval to market generic Atovaquone oral suspension USP in the strength of 750 mg/5 mL from the United States Food and Drug Administration (USFDA), Lupin said in a BSE filing.

At 10:05 am, all the stocks in the Nifty Pharma index were trading higher in the range of 1 per cent to 4 per cent.

National Stock Exchange of India Ltd (NSE)