Despite Imminent Etanercept Launch, Lupin Cuts FY21 Forecast
Trump Order A Near-Term Opportunity
Despite plans to launch a biosimilar to Enbrel in August and a generic to ProAir in September, Lupin cut its FY21 EBITDA forecast to 17% from 19-20%, as first-quarter revenues were hit by COVID-19 and a recall of metformin in the US. Meanwhile, it sees the US “Buy American” order for some essential medicines as a near-term opportunity
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Having gained from Perrigo’s US withdrawal of generic ProAir (albuterol sulphate), Lupin plans to ramp up capacity by its financial fourth quarter as demand is seen rising on account of flu and COVID-19 cases in the US. Meanwhile, FDA observations at its Somerset facility provide a dampener.
Having gained from Perrigo’s withdrawal of generic ProAir (albuterol sulphate), Lupin plans to ramp up capacity by Q4 as demand is seen rising on account of flu and COVID-29 cases in the US. Meanwhile, FDA observations at its Somerset facility are a dampener
Lupin CEO Vinita Gupta shares plans to shift manufacture of albuterol and some other products to its US facilities, with a rollout of a generic to Teva’s ProAir expected soon. Enthused by Lupin’s first biosimilar introduction In Europe with etanercept and looking to up the company’s digital game, the executive says Amazon’s entry into India’s e-pharmacy space is not a near-term worry