The shares of the leading Active Pharmaceutical Ingredients (APIs) manufacturers gained up to 4 percent after the company launched Mirabegron Extended-Release Tablets.
With a market capitalization of Rs 72,917.28 crore, the shares of Lupin Ltd were trading at Rs 1,600.25 crore, increasing around 3.44 percent as compared to the previous closing of Rs 1,547.05 crore.
According to the company filing, Lupin Ltd announced the launch of Mirabegron Extended-Release Tablets, 25 mg, in the United States, after having received approval from the United States Food and Drug Administration (U.S. FDA).
Moreover, Mirabegron Extended-Release Tablets, 25 mg is a generic equivalent of Myrbetriq Extended-Release Tablets, 25 mg of Astellas Pharma Global Development, Inc. Mirabegron Extended-Release Tablets, 25 mg had estimated annual sales of USD 1,019 million in the U.S.
Looking into Lupin Ltd’s financials, the revenue increased by 20 percent, from Rs 4,322 crore in Q3 FY23 to Rs 5,197 crore in Q3 FY24. During the same period, net profit increased by 291 percent, from Rs 158 crore to Rs 619 crore.
The company is a leader in cardiovascular, anti-diabetic, and respiratory segments, with a strong presence in anti-infective, gastrointestinal (GI), central nervous system (CNS), and women’s health. Lupin is the third-largest pharmaceutical firm in the United States based on prescriptions. In FY23, the business invested 7.9% of sales on R&D.
Lupin operates 15 production locations, and 7 research centers, employs over 20,000 experts worldwide, and is frequently acknowledged as a ‘Great Place to Work’ in the Biotechnology and Pharmaceuticals industry.
The corporation earns 37% of its money from India, 32% from the United States, and the rest 31% from other areas and APIs.
Lupin is a worldwide pharmaceutical firm based in Mumbai that is driven by innovation. Lupin produces and commercializes a diverse variety of branded and generic formulations, biotechnology products, and APIs in over 100 markets worldwide, including the United States, India, South Africa, Asia Pacific (APAC), Latin America (LATAM), Europe, and the Middle East.
Written by:- Abhishek Singh
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