Shares of Lupin Ltd were trading in the green and almost 1% higher on 16 February after the company announced the launch of a new injection in the United States.

In its regulatory filing, the company said that they had received approval from the US Food and Drug Administration (USFDA) to launch Ganirelix Acetate Injection in the dosage of 250 mcg/0.5 mL in a single-dose prefilled syringe in the United States.

The injection is used in fertility treatment to prevent luteinizing hormone (LH) surges or ovulation in women undergoing controlled ovarian hyperstimulation.

The Ganirelix Acetate Injection is a generic equivalent of Ganirelix Acetate Injection in the same dose (250 mcg/0.5 mL) for the reference listed drug of Organon USA LLC.

The Ganirelix Acetate Injection have an estimated annual sales of $87 million in the US, according to IQVIA MAT data for December 2023.

In its quarterly report for October-December, the company reported a 299.6% year-on-year increase in net profit to Rs 613.1 crore for the quarter from Rs 153.4 crore reported in the same quarter last year.

The revenue from operations for the quarter stood at Rs 5,197.4 crore, marking a 20.2% YoY increase from Rs 4,322.2 crore reported in the same quarter of the previous fiscal year.

At 11:38 am, Lupin shares were trading 0.53% higher at Rs 1,613.55 on NSE.