Drugmaker Lupin´s shares declined 4.5 per cent in Thursday´s intraday trade as analysts believe the stock´s expensive valuation may cap gains arising from the approval of inhalation drug Spiriva (tiotropium bromide) by the US Food and Drug Administration. The stock settled 2.6 per cent lower at ₹852, against a 0.45 per cent dip in the benchmark Sensex.
“While the Spiriva approval is an important milestone for Lupin, we believe the upside from Spiriva is priced in at current levels,” says research analyst Alankar Garude of Kotak Institutional Equities (KIE) in a report coauthored with Samitinjoy Basak and Aniket Singh.
Boehringer Ingelheim´s Spiriva (tiotropium bromide) is used for the treatment of chronic obstructive pulmonary disease, which affects nearly 10 per cent of individuals over the age of 40. Currently, gross and net sales of the brand in the US are approximately $1 billion and $500 million, respectively, with no generic players.
Diese Geschichte stammt aus der June 23, 2023-Ausgabe von Business Standard.
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Diese Geschichte stammt aus der June 23, 2023-Ausgabe von Business Standard.
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