Lupin , a leading pharmaceutical company, saw its shares gain 3% to Rs 2,027 after Jefferies maintained its Buy rating and raised the target price following the company's impressive quarterly earnings and strategic outlook.

Strong Q2 FY24 Performance

Lupin reported robust financial results for the second quarter:

• Net profit increased by 73.34% year-on-year to Rs 1,478.00 crore
• Revenue grew by 24.2% to Rs 7,047.50 crore
• EBITDA rose 74.7% to Rs 2,341.70 crore
• EBITDA margins improved to 33.2% from 23.6% previously

US Business Performance

The company's US business delivered $315 million in sales, marking the highest since Q3FY17. This growth was driven by new launches, including Glucagon and Liraglutide.

Revised Guidance and Targets

Lupin has updated its financial guidance and set ambitious targets:

• Raised EBITDA margin guidance by 1% to 25-26% range for FY26
• Expects US revenue to exceed $1 billion
• Plans to file over 15 products in FY26
• Targets 20 complex product launches by 2028

Product Pipeline Expansion

Lupin's strategic plans include a robust product pipeline:

• Upcoming launch of Risperdal Consta
• Recent introduction of Generic Ravicti
• Over 80 new product launches planned for the Indian market
• Semaglutide launches to drive expansion in India

Biosimilars Strategy

The company aims to have 5 biosimilar products in the market by FY30.

Financial Targets and Market Performance

• Anticipates a full-year tax rate between 21.00% and 22.00% for FY26
• Expects India Formulations Business to outperform the Indian Pharmaceutical Market (IPM) by 1.2X to 1.3X

Analyst Outlook

Jefferies has responded positively to Lupin's performance and outlook:

• Maintained Buy rating on Lupin stock
• Raised target price (specific figure not provided)
• Increased FY26 and FY27 EPS estimates by 7% and 5% respectively

Lupin's strong quarterly performance, coupled with its ambitious growth plans and positive analyst outlook, signals a promising future for the company. Investors and market watchers will likely keep a close eye on Lupin's execution of these strategic initiatives, particularly its new product launches and performance in both domestic and international markets.

Lupin Limited , a global pharmaceutical leader, has announced a significant milestone for its Bioresearch Center in Pune. The facility successfully completed a United States Food and Drug Administration (U.S. FDA) inspection, receiving zero observations - a testament to the company's commitment to maintaining high-quality standards and regulatory compliance.

Inspection Details

The U.S. FDA conducted two separate assessments:

1. An onsite clinical inspection from November 3 to November 6
2. A bio-analytical Remote Regulatory Assessment from October 30 to November 7

Both inspections concluded with no Form 483 observations, indicating that the facility met all regulatory standards during the FDA's review process.

Management's Perspective

Nilesh Gupta, Managing Director of Lupin, expressed his satisfaction with the outcome:

"The successful outcome of the onsite clinical inspection and bio-analytical assessment by the U.S. FDA at our Bioresearch Centre is testament to our ongoing commitment to quality and compliance. We remain focused on improving the lives of our patients globally."

Implications for Lupin

This successful inspection is a significant achievement for Lupin, as it:

• Reinforces the company's reputation for maintaining high-quality standards
• Potentially streamlines future regulatory approvals for drugs developed at this facility
• Demonstrates Lupin's ability to meet stringent international regulatory requirements

About Lupin Limited

Lupin Limited is a prominent player in the global pharmaceutical industry:

Lupin continues to focus on improving patient health outcomes through its subsidiaries - Lupin Diagnostics, Lupin Digital Health, and Lupin Manufacturing Solutions.

This latest achievement underscores Lupin's ongoing efforts to maintain high standards in its research and development facilities, which is crucial for its continued success in the highly regulated pharmaceutical industry.