Lupin may pursue deals worth up to $2 billion, Nomura says
BUZZ-Lupin may pursue deals worth up to $2 billion, Nomura says ** Nomura maintains rating for pharmaceuticals firm Lupin LUPN.NS at "buy", PT of 2675 rupees
** Lupin may pursue acquisitions of up to $2 billion to help expand presence in India and build out the specialty and innovation business, Nomura says
** Brokerage says about $300 mln-$350 mln of potential investment could go toward India formulations, with larger focus on building innovation business through acquisitions
** Co aims to generate about one-third of total revenue from innovation and specialty business over next 10 years
** Co expects to grow 20%-30% faster than broader Indian pharma market in medium term; cardiac, anti-diabetic and respiratory therapies seen as key growth drivers over next five years
** Lupin expects U.S. revenue to exceed FY26 level of $1.3 billion within two years, with recovery driven by complex generics including inhalers and biosimilars
** Shares of Lupin rise 2.12% to 2,088.10 rupees
** YTD shares down 3%
(Reporting by Aishwarya Jain in Bengaluru)
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Lupin may pursue deals worth up to $2 billion, Nomura says