Lupin Ltd Share Price – NSE  /  BSE

Pharmaceuticals, Mid Cap

The Court of Justice of the European Union dismissed the final appeal filed by Lupin against the order of the European Commission levying fine of Euro 40 million, in July 2014.

The patent settlement agreement entered into by the Company with Servier in January 2007 for the product Perindopril was found to be anticompetitive by the European Commission.

Pursuant to the judgement, the Company will be required to make payment of Euro 40 million and interest thereon to the European Commission. However, there will not be any impact on the P&L of the Company for the current financial year since this was already provided earlier in the accounts on a prudent basis.

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The said report classified under Voluntary Action Indicated (VAI) status. The facility was inspected from 7 May to 17 May 2024.

Nilesh Gupta, managing director, Lupin, said, “We are very pleased to have received the EIR with a satisfactory VAI status for our Somerset facility. This is a significant milestone in building our reputation of being best-in-class in Quality and Compliance.”

Mumbai-based Lupin is an innovation-led transnational pharmaceutical company. It develops and commercializes a wide range of branded and generic formulations, biotechnology products, and APIs in over 100 markets in the U.S., India, South Africa, and across the Asia Pacific (APAC), Latin America (LATAM), Europe, and Middle East regions.

The company’s consolidated net profit tumbled 41.38% to Rs 359.43 crore on 3.64% decline in revenue from operations to Rs 4,895.11 crore in Q4 FY24 over Q4 FY23.

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Lupin has allotted 43,475 fully paid-up equity shares under ESOP on 21 June 2024. In view of the above, the issued and paid-up capital of the Company has been increased to a 91,18,31,906 consisting of 45,59,15,953 equity shares of a 2/- each.

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Lupin Ltd is down for a fifth straight session today. The stock is quoting at Rs 1577.3, down 1.67% on the day as on 13:19 IST on the NSE. The benchmark NIFTY is up around 0.29% on the day, quoting at 23534.15. The Sensex is at 77203.56, up 0.27%.Lupin Ltd has lost around 6.33% in last one month.Meanwhile, Nifty Pharma index of which Lupin Ltd is a constituent, has increased around 2.9% in last one month and is currently quoting at 19895.65, down 0.67% on the day. The volume in the stock stood at 8.73 lakh shares today, compared to the daily average of 14.24 lakh shares in last one month.

The benchmark June futures contract for the stock is quoting at Rs 1582.3, down 1.43% on the day. Lupin Ltd jumped 91.15% in last one year as compared to a 25.48% rally in NIFTY and a 48.98% spurt in the Nifty Pharma index.

The PE of the stock is 31.42 based on TTM earnings ending March 24.

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