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LUPIN - Lupin News Story

₹1045.15 -34.3  -3.2%

Last Trade - 11:25am

Sector
Healthcare
Size
Large Cap
Market Cap £4.63bn
Enterprise Value £4.83bn
Revenue £1.49bn
Position in Universe 82nd / 3106

BUZZ-India's Cipla, Lupin jump after Perrigo recalls aerosol product

Fri 18th September, 2020 6:46am
** Shares of Indian drugmakers Cipla  CIPLA.NS  up 6%, Lupin
 LUPN.NS  up 6.6% after U.S.-listed Perrigo  PRGO.N  issues U.S.
recall of lung disease aerosol drug 
    ** Cipla, Lupin set for their best days in >1 month; LUPN
set to rise for 7th time in 8 days
    ** Perrigo on Thursday issued U.S. nationwide recall of
albuterol sulfate inhalation aerosol at retail level after
complaints of clogging issues surfaced  urn:newsml:reuters.com:*:nL4N2GE2Z6
    ** Recall will benefit Cipla, Lupin as volumes, pricing
likely to be higher for both cos - Ambit Capital analysts
    ** Earlier this year, Cipla, Lupin got final approvals for
their generic versions of Albuterol from the U.S. FDA (https://bit.ly/3kmtlSO)
 (https://bit.ly/2Hddo39)
    ** Analysts raise Cipla and Lupin's 2022 EPS est by 5% and
3%, respectively; say if cos are able to manage quality
standards, it bodes well for their plans to commercialize a host
of other inhalation products
    ** Last month, Cipla posted higher June-quarter profit, led
partly by U.S. sales of newly launched Albuterol  urn:newsml:reuters.com:*:nL4N2FC0ZN
    ** LUPN up ~44% YTD, Cipla ~67%; India's pharma sector
 .NIPHARM  up 51% so far this year

 (Reporting by Vibhuti Sharma)
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