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Lupin Q3 net plunges 65% to Rs 2.2 bn on lower sales in North America

Lupin said its profit was hit by a foreign exchange loss of 821 million rupees compared to a gain of Rs 276 mllion a year earlier


Lupin Ltd, India's second-largest drugmaker by revenue, on Tuesday reported lower-than-expected third-quarter net profit, hurt by lower sales in North America and foreign exchange losses. Indian pharmaceutical companies have struggled with weak sales in the United States on account of regulatory bans and warnings over quality control violations at production plants. Sales have also been hit by pricing pressures on account of rising competition in the generics market in the US. Lupin said its sales in North America, which accounts for more than a third of its total sales, ...

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First Published: Tue, February 06 2018. 15:45 IST