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Lupin up on U.S. regulatory approval for generic drug

Pharmaceutical tablets and capsules in foil strips are arranged on a table in this picture illustration taken in Ljubljana September 18, 2013. REUTERS/Srdjan Zivulovic/Files

Reuters Market Eye - Shares in Lupin Ltd(NSI:LUPIN.NS - News) gain 1.6 percent after U.S. Food and Drug Administration gave a tentative approval for generic version of cholesterol drug niacin, a form of vitamin B, on Monday.

Analysts tracking the sector say niacin's U.S. sales are $1.2 billion, out of which Lupin can make $30 million in sales annually.

(Reporting by Abhishek Vishnoi)