Lupin surges on planning to set up pharmaceutical manufacturing plant in Florida
Lupin is currently trading at Rs. 1956.60, up by 50.90 points or 2.67% from its previous closing of Rs. 1905.70 on the BSE.
The scrip opened at Rs. 1915.55 and has touched a high and low of Rs. 1984.05 and Rs. 1915.55 respectively. So far 88304 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. 1774.00 on 07-Apr-2025.
Last one week high and low of the scrip stood at Rs. 2005.75 and Rs. 1900.55 respectively. The current market cap of the company is Rs. 89296.16 crore.
The promoters holding in the company stood at 46.90%, while Institutions and Non-Institutions held 46.81% and 6.28% respectively.
Lupin is planning to set up a new state-of-the-art pharmaceutical manufacturing plant in Coral Springs, Florida. With a projected cumulative investment of $250 million, including research & development, infrastructure and capital expenditures over a five-year period, the new site will have the capacity to accommodate the production of more than 25 critical respiratory medicines, including lifesaving albuterol inhalers for children with asthma and service members at home and overseas.
By strengthening domestic manufacturing and enhancing supply chain diversification, this critical project will enhance medicine security and strengthen company’s position as a global respiratory leader. Locally, this will generate over 200 new long-term, skilled jobs by 2030 in Broward County. The Coral Springs facility will anchor U.S. production of critical respiratory therapies, diversify the supply chain, and ensure affordable, reliable access - from routine pediatric care to pandemic-scale demand. The company has acquired more than 5 acres of land to embark on this expansion of 70,000 square feet.
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.
