Lupin rose 1.29% to Rs 2,049.50 at 10:59 IST on BSE after the company announced a joint strategic alliance with Boehringer Ingelheim for co-marketing linagliptin.
The announcement was made during market hours today, 14 October 2015.
Meanwhile, the BSE Sensex was up 8.94 points, or 0.03% to 26,855.47
On BSE, so far 7.12 lakh shares were traded in the counter, compared with an average volume of 1.16 lakh shares in the past one quarter.
The stock hit a high of Rs 2,051 and a low of Rs 2,025.75 so far during the day. The stock had hit a record high of Rs 2,127 on 6 October 2015. The stock had hit a 52-week low of Rs 1,307.10 on 16 October 2014.
The stock had outperformed the market over the past one month till 12 October 2015, rising 11.1% compared with 5.05% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 7.49% as against Sensex's 2.74% decline.
The large-cap company has an equity capital of Rs 90.04 crore. Face value per share is Rs 2.
Lupin and Boehringer Ingelheim today, 14 October 2015 announced a joint strategic alliance for co-marketing linagliptin, a novel Dipeptidylpeptidase-4 (DPP-4) inhibitor in India. Boehringer Ingelheim, one of the fastest growing multinational pharmaceutical company in India (IMS MAT August 2015) has a strong presence in the DPP-4 Inhibitors market in India which is growing at 27% (IMS MAT August 2015).
According to 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 strong dedicated diabetes specialty field force. Boehringer Ingelheim will continue to sell its linagliptin under the brand names Trajenta (monotherapy) and TrajentaDuo (fixed-dose combination with metformin) through their existing sales force and network.
As per the joint press release issued by Lupin and Boehringer Ingelheim, Ondero tablets (monotherapy) are indicated as an adjunct to diet and exercise to improve glycemic control in adults with type 2 diabetes mellitus. Ondero Met tablets (fixed-dose combination therapy) are indicated as an adjunct to diet and exercise to improve glycemic control in adults with type 2 diabetes mellitus when treatment with both linagliptin and metformin is appropriate.
The Indian diabetes market is valued at Rs 7655 crore, growing at 19.57% (IMS MAT August 2015). The total DPP-4 Inhibitors market is valued at Rs 1499 crore and growing at 26.55%, as per press release. Lupin is amongst the fastest growing players in the Oral Anti-Diabetes Drugs (OAD) market as also in the insulin segment. Lupin's Anti-Diabetic portfolio contributes 15% to Lupin's India formulations sales. Lupin is the 4th largest company in the Anti-Diabetes segment and currently has 6.44% (IMS) market share of the overall Diabetes market.
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.
Lupin is a pharmaceutical company producing and developing a wide range of branded and generic formulations as well as biotechnology products and APIs globally. The company is a significant player in the cardiovascular, diabetology, asthma, pediatric, CNS, GI, anti-Infective and NSAID space and holds global leadership positions in the Anti-TB and Cephalosporin segment.
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