India's Lupin falls on fears of market share loss for respiratory drug in US

Amphastar Pharmaceuticals,

23/05/2024 07:10

** Shares of Indian drugmaker Lupin  LUPN.NS  down as much
as 7.3% at 1,591.20 rupees; logs biggest intra-day pct drop
since Feb. 2023
    ** U.S.-based Amphastar Pharmaceuticals  AMPH.O  said on
Wednesday it got FDA Approval for Albuterol Sulfate Inhalation
Aerosol used in treating respiratory ailments
    ** Lupin has 23.4% market share for the drug in U.S.
    ** Market reacting as one of LUPN's key product is now being
priced for easy competition, said Shrikant Akolkar, pharma
analyst at Nuvama Institutional Equities
    ** Going forward, Albuterol will not contribute as much as
it used to contribute in FY23 or FY24, because the product has
already seen some pricing pressure - Akolkar
    ** LUPN up 23% YTD vs 7.3% gains in BSE 100  .BSE100  and
13% gains in pharma index  .NIPHARM 

 (Reporting by Sethuraman NR and Kashish Tandon in Bengaluru)
 ((Sethuraman.NR@thomsonreuters.com; (+91 9945291420); Reuters
Messaging: nallur.sethuraman.thomsonreuters.com@reuters.net))