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 attached.
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 NSE sought clarification from Lupin after a news report stated that shares of Lupin and Zydus Life fell up to 5% following a US court decision favoring Astellas in a patent case related to Myrbetriq (used for overactive bladder treatment). The court ruling effectively upholds Astellas's patent, which is unfavorable for generic manufacturers like Lupin who were likely seeking to launch generic versions. Lupin has submitted its response to the exchange, which is attached to the filing. The stock price impact reflects market concerns over potential revenue loss from delayed generic entry.
Negative near-term sentiment as the patent loss delays Lupin's potential generic Myrbetriq launch in the US market, affecting future revenue from this product. Shareholders should watch for further details on the ruling's scope and any appeal options.