CompaniesLupin LtdFollowCipla LtdFollowDr Reddy’s Laboratories LtdFollowShow more companiesNov 6 (Reuters) – Indian drugmaker Lupin (LUPN.NS), opens new tab posted a 73.3% jump in second-quarter profit on Thursday, driven by strong demand for its respiratory drugs.The firm, which produces complex biosimilars drugs and active pharmaceutical ingredients, reported consolidated net profit of 14.78 billion rupees ($168.16 million) for the quarter ended September 30, from 8.53 billion rupees a year ago.
Sign up here.
Revenue from operations climbed 24.2% to 70.48 billion rupees.For further earnings highlights, click here.
KEY CONTEXT
Indian generic drugmakers get a significant portion of their revenue from North America, where intense competition has led to lower prices, weighing on companies’ margins.Lupin, which calls itself the third-largest generic pharmaceutical company by prescription in the U.S., manufactures drugs for a wide range of illnesses such as cardiovascular, tuberculosis, respiratory and central nervous system issues.The drugmaker said its U.S. sales rose 47.3% during the quarter and accounted for 40% of global revenue.Rivals Cipla (CIPL.NS), opens new tab and Dr Reddy’s Laboratories (REDY.NS), opens new tab both posted subdued sales in the U.S. for the same period.PEER COMPARISON* Mean of analysts’ ratings standardised to a scale of Strong Buy, Buy, Hold, Sell, and Strong Sell** Ratio of the stock’s last close to analysts’ mean price target; a ratio above 1 means the stock is trading above the PTJULY TO SEPTEMBER STOCK PERFORMANCE
Lupin Q2 stock performance compared with peers– All data from LSEG– $1 = XX Indian rupees($1 = 87.8950 Indian rupees)
Reporting by Kashish Tandon and Mridula Kumar in Bengaluru; Editing by Leroy Leo
Our Standards: The Thomson Reuters Trust Principles., opens new tab
