Lupin share price rose nearly 3 percent in the opening trade on October 9 following the company announced a plan to build a new state-of-the art manufacturing facility in Coral Springs, Florida.
At 09:16am, Lupin was quoting at Rs 1,959.20, up Rs 53.50, or 2.81 percent, on the BSE.
With a projected cumulative investment of USD 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.
“The expansion of Lupin’s footprint in Coral Springs is a core part of our growth strategy. This new state-of-the-art facility will build on our existing presence in Florida, which is home to Lupin’s headquarters and our Advanced Inhalation Research Center," ,” said Christoph Funke, Chief Technical Operations Officer, Lupin.
"This investment demonstrates Lupin’s commitment to innovation, quality and supply chain reliability — and our ability to partner with Florida’s leaders to strengthen America’s medicine security by growing our capacity to produce affordable treatments for patients. We are grateful to Florida’s leadership for their partnership in making this possible,” said Christoph Funke, Chief Technical Operations Officer, Lupin, he added.
The company has acquired more than 5 acres of land to embark on this expansion of 70,000 square feet.
Catch all the market action on our live blog
Earlier in this month, the company received four observations to its Pithampur unit from USFDA and also launched Liraglutide Injection, 18 mg/3 mL (6 mg/mL) single-patient-use prefilled pen and Rivaroxaban for Oral Suspension, 1 mg/mL, in the United States.
In the previous trading session, the share closed down 0.98 percent or Rs 18.95 at Rs 1,905.70.
The share touched a 52-week high of Rs 2,403.45 and a 52-week low of Rs 1,774.00 on 02 January, 2025 and 07 April, 2025, respectively.
Currently, the stock is trading 18.48 percent below its 52-week high and 10.44 percent above its 52-week low.
The market capitalisation of the company stands at Rs 89,488.00 crore.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
Find the best of Al News in one place, specially curated for you every weekend.
Stay on top of the latest tech trends and biggest startup news.
