Lupin shines as its Brazilian subsidiary acquires rights to nine brands from Bausch Health
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Lupin is currently trading at Rs. 756.80, up by 23.10 points or 3.15% from its previous closing of Rs. 733.70 on the BSE.
The scrip opened at Rs. 747.00 and has touched a high and low of Rs. 759.15 and Rs. 740.25 respectively. So far 16726 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. 759.15 and Rs. 709.60 respectively. The current market cap of the company is Rs. 33363.83 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 in Brazil, Medquimica Industria Farmaceutica (MedQuimica), has signed a definitive agreement to acquire all rights to nine medicines from BL Industria Otica, a subsidiary of Bausch Health Companies Inc. As part of the transaction, MedQuimica will acquire rights to nine products including Limbitrol, Melleril and Dalmadorm for Central Nervous System related conditions, Bacrocin, Glyquin, Solaquin, Oxipelle and Efurix as topical oncological treatments, and Cuprimine for the treatment of Wilson’s disease. This move reinforces the company’s commitment to making healthcare solutions accessible to all patients.
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.
