Lupin inches up as its arm signs definitive agreement to acquire two inhalation medicines
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Lupin is currently trading at Rs. 688.65, up by 0.55 points or 0.08% from its previous closing of Rs. 688.10 on the BSE.
The scrip opened at Rs. 673.85 and has touched a high and low of Rs. 691.00 and Rs. 670.65 respectively. So far 81946 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 972.50 on 14-Dec-2021 and a 52 week low of Rs. 583.05 on 25-May-2022.
Last one week high and low of the scrip stood at Rs. 699.80 and Rs. 670.65 respectively. The current market cap of the company is Rs. 31023.63 crore.
The promoters holding in the company stood at 47.11%, while Institutions and Non-Institutions held 41.44% and 11.45% respectively.
Lupin’s wholly owned subsidiary -- Lupin Inc, USA has signed definitive agreement with Sunovion Pharmaceuticals Inc., USA to acquire two inhalation medicines, Brovana (arformoterol tartrate) Inhalation Solution and Xopenex HFA (levalbuterol tartrate) Inhalation Aerosol, from Sunovion Pharmaceuticals Inc for a purchase price of $75 million. The company expects the transaction to be accretive to earnings in the first year.
The acquisition of these two brands expands Lupin's portfolio of inhalation products in the U.S. and strengthens the company’s presence in the respiratory therapy area while continuing to provide patients access to these important medicines. Brovana is indicated for long-term maintenance treatment of bronchoconstriction in patients with chronic obstructive pulmonary disease, including chronic bronchitis and emphysema. Xopenex HFA is a short-acting beta2-adrenergic agonist (SABA) indicated for the treatment or prevention of bronchospasm in adults, adolescents, and children 4 years of age or older with reversible obstructive airway disease.
Lupin is an innovation led transnational pharmaceutical company producing, developing and marketing a wide range of branded and generic formulations, biotechnology products and active pharmaceutical ingredients (APIs) globally.
