Lupin shares jump 4% on new Florida manufacturing facility plan

Shares of Lupin rose over 4 per cent after it said that it plans to build a new state-of-the-art pharmaceutical manufacturing plant in Coral Springs, Florida, US.

 

The pharma major's stock rose as much as 4.12 per cent during the day to ₹1,984.1 per share, the biggest intraday rise since October 1 this year. The Lupin stock pared gains to trade 4 per cent higher at ₹1,983 apiece, compared to a 0.09 per cent advance in Nifty 50 as of 10:22 AM. 

 

Shares of the company snapped a four-day losing streak and currently trade at 6.1 times the average 30-day trading volume, according to Bloomberg. The counter has fallen 16 per cent this year, compared to a 5.8 per cent advance in the benchmark Nifty 50. Lupin has a total market capitalisation of ₹90,577.37 crore.   FOLLOW STOCK MARKET LIVE UPDATES

 

Lupin to invest $250 million in new pharmaceutical plant 

The pharma major announced plans to set up a new manufacturing facility in Coral Springs, Florida, marking a step toward strengthening domestic drug production and supply chain resilience in the US.

 

The company said it will invest a cumulative $250 million over the next five years, covering research and development, infrastructure, and capital expenditures. The new facility will have the capacity to produce more than 25 critical respiratory medicines, including lifesaving albuterol inhalers used by children with asthma and service members both domestically and abroad.

 

Lupin said the project aims to boost medicine security, diversify supply chains, and reinforce its position as a global leader in respiratory therapies. The investment is also expected to create over 200 new long-term skilled jobs in Broward County by 2030, it said in a statement. 

 

Last month, Lupin said it had received the USFDA's approval for Risperidone for extended-release injectable suspension, 25 mg per vial, 37.5 mg per vial, and 50 mg per vial in Single-Dose Vials.

 

The drugmaker said this is its first product using proprietary Nanomi BV’s (Nanomi) technology and has a 180-day CGT exclusivity. Nanomi, a Lupin subsidiary, is focused on the development of innovative long-acting injectable (LAI) medicines to improve health outcomes for patients.   ALSO READ | EFC (I) shares zoom 10% after Abakkus Asset Manager buys stakes; details

Lupin Q1 results 

The drug maker reported a profit after tax (PAT) of ₹1,221 crore in the April-June quarter, marking an increase of 72 per cent year-on-year (Y-o-Y). Revenue rose to ₹6,164 crore in the first quarter as against ₹5,514 crore in the year-ago period. 

 

The company said its sales in the US stood at ₹2,404 crore in the June quarter, registering a growth of 24 per cent as compared to ₹1,934 crore in the year-ago period. India sales for Q1 FY26 stood at ₹2,089 crore, up 8 per cent from ₹1,938 crore.