Lupin surges as its arm completes acquisition of two brands from Sanofi in Europe, Canada
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Lupin is currently trading at Rs. 1640.60, up by 77.35 points or 4.95% from its previous closing of Rs. 1563.25 on the BSE.
The scrip opened at Rs. 1582.70 and has touched a high and low of Rs. 1640.95 and Rs. 1572.25 respectively. So far 14819 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 1727.90 on 22-May-2024 and a 52 week low of Rs. 805.40 on 09-Jun-2023.
Last one week high and low of the scrip stood at Rs. 1644.65 and Rs. 1493.75 respectively. The current market cap of the company is Rs. 74658.24 crore.
The promoters holding in the company stood at 47.01%, while Institutions and Non-Institutions held 46.05% and 6.93% respectively.
Lupin’s wholly owned subsidiary -- Lupin Atlantis Holdings SA, Switzerland, has completed the acquisition of two well-known brands, Aarane in Germany and Nalcrom in Canada and the Netherlands, along with the associated trademark rights, from Sanofi.
The transaction aligns with Lupin's strategy to grow its global presence in Specialty areas, where the company has a leading position, with high-quality products that are innovative or unique in the market. This acquisition will enhance Lupin's Respiratory business in Germany, by aiding in the expansion of the newly established franchise, following the introduction of Luforbec.
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.
