Lupin rose 1.28% to Rs 1,522.50 at 12:43 IST on BSE after the company and Eli Lilly and Company (India) announced an expansion of their partnership in India with the launch of Eglucent.
The announcement was made during market hours today, 1 December 2016.Meanwhile, the S&P BSE Sensex was up 22.51 points or 0.08% at 26,675.32.
On the BSE, 51,000 shares were traded on the counter so far as against the average daily volumes of 99,940 shares in the past one quarter. The stock had hit a high of Rs 1,537 and a low of Rs 1,500 so far during the day. The stock had hit a 52-week high of Rs 1,911.55 on 9 February 2016. The stock had hit a 52-week low of Rs 1,294.05 on 29 March 2016. The stock had outperformed the market over the past one month till 30 November 2016, sliding 0.97% compared with the Sensex's 4.57% fall. The scrip had also outperformed the market in past one quarter, declining 0.42% as against the Sensex's 5.96% fall.
The large-cap company has equity capital of Rs 90.27 crore. Face value per share is Rs 2.
Eglucent is a new brand of Eli Lilly and Company (India)'s (Lilly) rapid-acting insulin analog Lispro. It is indicated for the treatment of patients with diabetes mellitus. According to the agreement, Lupin will market and sell Eglucent through its own specialty field force while Lilly will be responsible for manufacuring and import. Lilly will continue to sell Lispro under the brand name Humalog through its existing channels.
Lupin had earlier collaborated with Lilly (July 2011) to promote and distribute Lilly's Huminsulin range of products in India and Nepal.
Lupin's consolidated net profit jumped 57.8% to Rs 662.19 crore on 31.9% rise in net sales to Rs 4211.18 crore in Q2 September 2016 over Q2 September 2015.
Lupin is an innovation led transnational pharmaceutical company developing and delivering a wide range of branded & generic formulations, biotechnology products and active pharmaceutical ingredients (APIs) globally. The company is a significant player in the cardiovascular, diabetology, asthma, pediatric, central nervous system (CNS), GI, Anti-Infective and NSAID space and holds global leadership position in the Anti-TB segment.
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