India's Lupin slides as Otsuka appeals US ruling on drug

Otsuka Holdings

09/09/2024 07:31

** Shares of Lupin  LUPN.NS  slide as much as 3.1%
    ** Japan's Otsuka  4578.T  appeals US district court's
ruling in favour of Lupin's generic version of Otsuka's kidney
drug Jynarque
    ** Citi says appeal could delay Lupin's plan to launch its
generic in April 2025 
    ** Adds LUPN's pipeline lacks major products to offset
potential decline of Jynarque generic in FY27
    ** Citi keeps "sell", while avg rating of 30 analysts is
"hold", per LSEG data
    ** LUPN climbs ~69% YTD vs ~37% gain in Nifty pharma index
 .NIPHARM 

 (Reporting by Yagnoseni Das in Bengaluru)
 ((Yagnoseni.Das@thomsonreuters.com;))