India's Lupin rises on Brazilian unit acquiring rights to Bausch brands

Bausch Health Companies

29/11/2022 04:29

** Shares of pharmaceutical company Lupin Ltd  LUPN.NS  rise
as much as 3.5% at 759.4 rupees, its biggest intraday pct gain
since Nov. 11
    ** Stock on course to gain for a fourth straight session 
    ** Co late on Monday said its Brazil unit, MedQuímica
Indústria Farmacêutica, has signed definitive agreement to
acquire all rights to nine brands from a unit of Canadian pharma
and medical device company Bausch Health Companies Inc  BHC.TO 
    ** More than 1.55 mln shares traded by 0939 IST, 1.2X their
30-day moving avg of more than 1.32 mln shares
    ** Ten of 38 brokerages rate the stock "buy" or higher, 18
"hold", and 10 "sell" or lower; their median PT is 727.5 rupees
    ** Up to last close, stock had fallen 22.8% YTD vs a 8.6%
decline in the Nifty pharma index  .NIPHARM 
 (Reporting by Yagnoseni Das in Bengaluru)
 ((Yagnoseni.Das@thomsonreuters.com; +91 6001289066;))