Lupin gains on entering into license, supply agreement with SteinCares
Lupin is currently trading at Rs 1990.70, up by 11.65 points or 0.59% from its previous closing of Rs 1979.05 on the BSE.
The scrip opened at Rs 1989.70 and has touched a high and low of Rs 2005.65 and Rs 1984.75 respectively. So far 42684 shares were traded on the counter.
The BSE group 'A' stock of face value Rs 2 has touched a 52-week high of Rs 2403.45 on 02-Jan-2025 and a 52-week low of Rs 1493.75 on 04-Jun-2024.
Last one week high and low of the scrip stood at Rs 2085.35 and Rs 1947.05 respectively. The current market cap of the company is Rs 90985.41 crore.
The promoters holding in the company stood at 46.92% while Institutions and Non-Institutions held 46.88% and 6.20% respectively.
Lupin has entered into a license and supply agreement with SteinCares, a leading specialty healthcare company in Latin America, for commercialization of Lupin’s biosimilar ranibizumab across Latin America excluding Mexico and Argentina. Under the terms of the agreement, SteinCares will handle all regulatory filings, registrations and commercialization of Ranibizumab in LATAM, while Lupin will be responsible for manufacturing the same.
Ranibizumab is a recombinant humanized IgG1 monoclonal antibody fragment that binds to and inhibits vascular endothelial growth factor A (VEGF-A). Its indications encompass the treatment of patients with Neovascular (Wet) Age-Related Macular Degeneration (AMD), Macular Edema Following Retinal Vein Occlusion (RVO), Diabetic Macular Edema (DME), Diabetic Retinopathy (DR) and Myopic Choroidal Neovascularization (mCNV).
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.
