Lupin incorporates subsidiary in US

The drug major has incorporated a wholly-owned subsidiary in the USA under the name, Lupin Oncology Inc. (LOI).

Lupin Oncology Inc. (LOI) will be engaged in development/co-development and commercialization of multiple oncology products globally. LOI will be pursuing partners, financial sponsors and perform such other acts as may be necessary.

The announcement was made after market hours on Tuesday, 20 April 2021. The market was shut yesterday (21 April 2021) on account of Ram Navami.

On a consolidated basis, Lupin reported net profit of Rs 441.35 crore in Q3 FY21 as against a net loss of Rs 840.36 crore reported in Q3 FY20. Net sales increased 5.4% to Rs 3,917.30 crore in Q3 FY21 from Rs 3,716.09 crore in Q3 FY20.

 

Lupin is an innovation-led transnational pharmaceutical company. The company develops and commercializes a wide range of branded and generic formulations, biotechnology products and APIs in over 100 markets.

Shares of Lupin fell 1.59% to Rs 1,072.95 on BSE. The stock hovered in the range of Rs 1,070.15 to Rs 1,106.35 so far.

Powered by Capital Market - Live News