Drug firm Lupin Limited (Lupin) today announced that it has received approval for its Tavaborole Topical Solution, 5%, from the United States Food and Drug Administration, to market a generic equivalent of Kerydin Topical Solution, 5%, of Anacor Pharmaceuticals, Inc.
The product will be manufactured at Lupin’s facility in Pithampur, India. Tavaborole Topical Solution, 5%, is an oxaborole antifungal indicated for the topical treatment of onychomycosis of the toenails due to Trichophyton rubrum or Trichophyton mentagrophytes.
Tavaborole Topical Solution (RLD: Kerydin ) had estimated annual sales of $76 million in the US
Earlier the company announced the appointment of Mark D McDade as an independent director effective January 28, 2021, for a period of five years.
McDade is the co-Founder and Partner at Qiming Venture Partners, USA where he led several high-value investments in biotherapeutics, including cell and gene therapy and digital health, Lupin said in a statement. With a career spanning over 37 years, he has led and transformed global companies as well as founded and advanced biotech companies, it added.
McDade holds a BA in History from Dartmouth College and MBA from Harvard Business School, the statement said.
“We are confident that his diverse experience across large, mid and development-stage companies across specialty and biologics, will help advance our growth journey”, Lupin Chairman Manju D Gupta said.
Shares of Lupin were trading at ?1,058.40 per scrip on BSE, down 1.22 % from its previous close.
News Source:- Livemint