The changes are announced by Asia Index, a joint venture between S&P Dow Jones Indices LLC and BSE. The move is a part of Asia Index's semi-annual reconstitution results.
JM Financial is bullish on Lupin has recommended buy rating on the stock with a target price of Rs 1140 in its research report dated October 31, 2017.
Sharekhan recommended hold rating on Lupin with a target price of Rs 1050 in its research report dated October 30, 2017.
There would be a marginal impact on their earnings because most of the important products that are to be launched are not from Goa and Pithampur units, said, Ramesh Swaminathan, CFO & ED, Lupin.
The management in its commentary said the USFDA warning letter didn’t mention anything about data integrity but expressed concerns over handling of out-of-specification (OOS) results and conduct of hold-time studies.
Analysts tracking the company called it a huge blow as the two plants contribute around 30-40 percent of the sales and a large pipeline of abbreviated new drug applications (ANDAs) filed from the plant were pending for approvals before USFDA.
Reliance Securities recommended hold rating on Lupin with a target price of Rs 1030 in its research report dated October 31, 2017.
HDFC Securities is bullish on Lupin has recommended buy rating on the stock with a target price of Rs 1565 in its research report dated October 31, 2017.
The 75 mg and 150 mg tablets were launched after receiving the approval from the United States Food and Drug Administration (USFDA), Lupin said in a filing to BSE.
KR Choksey is bullish on Lupin has recommended buy rating on the stock with a target price of Rs 1187 in its research report dated October 31, 2017.
Numbers were expected to be bad but the fall was less compared with analyst estimates.
EBITDA (earnings before interest, tax, depreciation and amortisation) may fall 23 percent year-on-year to Rs 791 croe and margin may contract 414 basis points to 19.86 percent in Q2.
The company has received USFDA's final approval to market the tablets in the strength of 0.1 mg, Lupin said in a filing to BSE.
The company has received final approval for its testosterone topical solution, 30 mg per actuation from the United States Food and Drug Administration (USFDA) to market the product, Lupin said in a BSE filing.
Net Sales are expected to decrease by 5.4 percent Y-o-Y (up 4.8 percent Q-o-Q) to Rs. 4057.2 crore, according to Kotak.
Lupin on Wednesday has agreed to buy US-based Symbiomix Therapeutics for USD 150 million. The drug maker will be doing several deals in the coming quarters.
Lupin acquired American firm Symbiomix Therapeutics for USD 150 million. The company says they expect significant cash flows from the deal in the next three years. In an interview to CNBC-TV18, Ramesh Swaminathan, CFO & ED of Lupin spoke at length about the acquisition, numbers and his outlook going ahead.
Sun Pharmaceutical Industries gets a breather; a sign of relief after the US Food and Drug Administration (US FDA) closed the inspection and gave a clean chit to their Dadra unit.
The drugmaker expects a fillip from the USD 1 billion market that Solosec, Symbiomix’s lead product, addresses.
Lupin had entered into an arrangement to acquire the company earlier this year. The acquisition has been made for a cash consideration of USD 150 million, including USD 50 million upfront payment and other time-based ones, it said in a regulatory filing today.
Drug firm Lupin today said it has launched its pain relieving Hydrocodone Bitartrate and Acetaminophen tablets in the American market.
Nifty on Tuesday was trading in the green up 22.85 points at 10, 012 led by Reliance Industries, Infosys and Lupin which were among the top gainers, up 1.58 percent, 1.34 percent and 2.29 percent respectively.
Reliance Industries and Infosys were among the top gainers, up 1.73 percent and 1.36 percent respectively, apart from stocks like Lupin, UPL and Power Grid which gained up to 2.3 percent. In the Nifty50, the advance-decline ratio was in favour of the advances with 29 stocks advancing and 20 stocks declining.
Siyaram Silk, HEG Limited, Jindal Worldwide, Goa Carbon and VIP Industries were the stocks that hit 52-week high in the Nifty while within the BSE Index, stocks like Gillette India, Kotak Mahindra Bank, Bharat Financial, Bata India, Tata Steel, TVS Motor and TVS Electronics hit 52-week high in today's trade.