Lupin rose 0.12% to Rs 1,674.05 at 10:00 IST on BSE after the company announced that it has entered into a strategic asset purchase agreement with TEMMLER PHARMA GMBH & CO. KG to acquire Temmler's specialty product portfolio.
The company made announcement after market hours on Friday, 24 July 2015.
Meanwhile, the S&P BSE Sensex was down 287.36 points or 1.02% at 28,484.76.
On BSE, so far 49,751 shares were traded in the counter as against average daily volume of 1.03 lakh shares in the past one quarter.
The stock hit a high of Rs 1,690.15 and a low of Rs 1,656.85 so far during the day. The stock had hit a record high of Rs 2,112 on 8 April 2015. The stock had hit a 52-week low of Rs 1,078 on 24 July 2014.
The stock had underperformed the market over the past one month till 24 July 2015, falling 7.38% compared with Sensex's 1.38% rise. The scrip had also underperformed the market in past one quarter, declining 4.92% as against Sensex's 2.46% gain.
The large-cap pharma company has equity capital of Rs 89.98 crore. Face value per share is Rs 2.
Lupin announced that it has entered into a strategic asset purchase agreement with TEMMLER PHARMA GMBH & CO. KG (Temmler), a part of the Aenova Group, one of the world's largest pharmaceutical contract manufacturers, to acquire Temmler's specialty product portfolio subject to certain closing conditions.
Based in Marburg (Germany), Temmler has a fast growing specialty portfolio of 13 products including key Central Nervous System (CNS) products and specialty products that address rare disease areas like Myasthenia Gravis, Huntington disease as well as fast-growing dermatology products for anti-wart treatment. Since Huntington disease has many symptoms ranging from motoric symptoms to personality changes, both Temmler and Hormosan products can be used to treat the disease.
Meanwhile, with respect to news article titled "Lupin's Goa Unit Comes Under USFDA Scanner", Lupin clarified after market hours on Friday, 24 July 2015, that the observations have already been complied with and accordingly responded to the United States Food & Drug Administration (USFDA)
Lupin's consolidated net profit fell 16.% to Rs 525.02 crore on 4.3% decline in total income to Rs 3225.81 crore in Q1 June 2015 over Q1 June 2014.
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