The Exchange has sought clarification from Lupin Limited with respect to recent news item captioned Lupin, Zydus Life shares fall up to 5% as US court sides with Astellas in Myrbetriq patent case. The response from the Company is awaited.
LUPIN · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 0.6 pts less than Nifty Midcap 150 and 0.5 pts less than its Pharmaceuticals peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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The stock exchange has asked Lupin to clarify a recent news report that its shares fell up to 5% after a US court ruled in favour of Astellas in the Myrbetriq patent case. Lupin is among the companies (along with Zydus Lifesciences) that were reportedly involved in challenging Astellas's patent on the Myrbetriq drug. With the court siding with Astellas, Lupin may face restrictions on launching generic versions of this blockbuster urology drug in the US market. The company's formal response to the exchange is still awaited.
Negative near-term sentiment — the ruling signals a setback for Lupin's US generics business on the Myrbetriq opportunity. Investors should watch for the company's official response and any guidance on financial exposure to this patent litigation, as further downside in the stock is possible until clarity emerges.