Lupin inches up after signing agreement

Lupin rose 0.97% to Rs 768 at 14:48 IST on BSE after the company signed an agreement with CSIR-National Chemical Laboratory and Department of Science and Technology for conducting research.

The announcement was made during market hours today, 8 March 2018.

Meanwhile, the S&P BSE Sensex was up 329.59 points, or 1% to 33,362.68

On the BSE, 88,000 shares were traded in the counter so far, compared with average daily volumes of 1.06 lakh shares in the past one quarter. The stock had hit a high of Rs 770 and hit a low of Rs 750 so far during the day. The stock had hit a 52-week high of Rs 1,498.40 on 23 March 2017. The stock had hit a 52-week low of Rs 756.50 on 7 March 2018.

The large-cap company has equity capital of Rs 90.42 crore. Face value per share is Rs 2.

Lupin today announced the signing of an agreement with CSIR-National Chemical Laboratory (CSIR-NCL, Pune) and Department of Science and Technology, (DST, Delhi) for conducting research on a continuous purification process development of a biosimilar monoclonal antibody therapeutic.

Monoclonal antibodies represent the most important biopharmaceutical product class, serving the highdemand treatment area of immuno-oncology diseases. With an increasing demand for biosimilar therapeutics and an ever-increasing pressure for manufacturing cost reduction with quality maintenance, the biopharmaceutical industry is showing keen interest in the development of continuous manufacturing processes.

Through this research collaboration, CSIR-NCL and Lupin would collaboratively work towards the development of a novel continuous purification process for manufacturing a biosimilar monoclonal antibody therapeutic (mAb).

Lupin's consolidated net profit plunged 64.98% to Rs 221.73 crore on 12.73% decline in total income to Rs 4004.63 crore in Q3 December 2017 over Q3 December 2016.

Lupin is a transnational pharmaceutical company developing and delivering a wide range of branded & generic formulations, biotechnology products and active pharmaceutical ingredients (APIs) globally.

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