Lupin gains on announcing agreement for Generic Advair Diskus

Lupin rose 1.21% to Rs 1,679 at 09:21 IST on BSE after the company entered into a definitive agreement with Celon to jointly develop a fluticasone/salmeterol dry powder inhaler product.

The announcement was made yesterday, 17 February 2015, when stock markets were closed on account of Mahashivratri.

Meanwhile, the BSE Sensex was up 91.11 points, or 0.31%, to 29,226.40

On BSE, so far 8,285 shares were traded in the counter, compared with an average volume of 43,721 shares in the past one quarter.

The stock hit a high of Rs 1,685.80 and low of Rs 1,674.70 so far during the day. The stock hit record high of Rs 1,692.50 on 13 February 2015. The stock hit a 52-week low of Rs 890 on 13 February 2014.

The large-cap pharma company has an equity capital of Rs 89.87 crore. Face value per share is Rs 2.

Lupin and Celon Pharma S.A. (Celon) announced on Tuesday, 17 February 2015, that they have entered into a definitive agreement under which the companies will jointly develop fluticasone/salmeterol dry powder inhaler (DPI) product which is a generic version of GlaxoSmithKline's Advair Diskus. Lupin will be responsible for commercialization of the product. Celon will supply the product to Lupin for its commercialization in the United States, Canada, Mexico, and other key markets. GlaxoSmithKline's Advair Diskus had global sales of over $7 billion as of last fiscal.

Celon Pharma is a dynamically developing Polish biopharmaceutical company with a strong research and marketing orientation.

The Reserve Bank of India had on 12 February 2015 had announced hike in the ceiling on investment in shares of Lupin by foreign institutional investors (FIIs)/Registered Foreign Portfolios Investors (RFPIs) under the portfolio investment scheme to 49% of the company's equity capital with effect from 12 February 2015, from earlier 33%. Total FII holding in Lupin stood at 31.77% as on 31 December 2014.

Lupin's consolidated net profit rose 26.3% to Rs 601.45 crore on 6.8% rise in total income to Rs 3261.04 crore in Q3 December 2014 over Q3 December 2013.

Lupin is an innovation led transnational pharmaceutical company producing and developing a wide range of branded and generic formulations and APIs.

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