Lupin jumps 1.6% to a fresh 52-week high on launching Mirabegron tablets in the US

Lupin has launched Mirabegron Extended-Release Tablets, 50 mg, in the United States after having received approval from the United States Food and Drug Administration (USFDA). Mirabegron Extended-Release Tablets, 50 mg is a generic equivalent of Myrbetriq Extended-Release Tablets, 50 mg of Astellas Pharma Global Development, Inc. Mirabegron Extended-Release Tablets, 50 mg had estimated annual sales of $1,600 million in the United States (IQVIA MAT July 2024).

Lupin posted a strong set of numbers in Q1FY25, with revenue rising 22% YoY to ₹5514 crore. Of this, 37% came from the US at ₹2040 crore, while India reported ₹1925 crore for the same quarter. The net profit for the quarter jumped over 180% YoY to ₹801 crore.

In a recent conference call, Lupin CEO Vinit Gupta said, “On the R&D front, while Q1 has been light, we expect our spending to ramp up in Q2 and Q3 with the progress that we have in our pipeline. We expect R&D to be around ₹1,800 crores for FY25, with an increasing percentage of complex generics as we have planned over the last couple of years.”

Lupin is an innovation-led transnational pharmaceutical company that produces, develops, and markets a wide range of branded and generic formulations, biotechnology products, and active pharmaceutical ingredients (APIs) globally. Lupin is the 10th largest generic pharmaceutical company in the world, with $2.4 billion in annual sales in FY24.