 "Lupin rises on announcing agreement with Boehringer Ingelheim")
Shares of Lupin are up over 1% at Rs 2,050 on the BSE after the drug maker entered into a joint strategic alliance with German pharma firm Boehringer Ingelheim for co-marketing linagliptin, a novel dipeptidylpeptidase-4 (DPP-4) inhibitor in India.
As per the agreement, Lupin will market and sell linagliptin under a separate brand name Ondero (monotherapy) and Ondero Met (fixed-dose combination with metformin) which will be promoted by Lupin’s 400 dedicated diabetes specialty field force.
Shakti Chakraborty, group president, India Region Formulations, Lupin, said, “I believe our entry into the high growth DPP-4 inhibitor market with the launch of Ondero and Ondero Met will not only strengthen our diabetes portfolio but also help us consolidate our position as a market leader and the fastest growing player in the TOP 5 in the anti-diabetes segment.”
The stock opened at Rs 2,033 on the BSE and reached a high of Rs 2,051. At 11:30 AM, a combined total of 1.2 million shares exchanged hands on the counter of BSE and NSE.
