Lupin Q2 Results Review - Strong Recovery In North America Business; Beat On Margins: Systematix

BQ Prime’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy. .Systematix Research Report.Lupin Ltd. reported a sharp bounce back in business as Ebitda grew 95% QoQ with Ebitda margins improving by 472 basis points to 10.9%. North America business reported sales of $159 million, grew 31.6% QoQ, due to a low base in Q1 FY23, contribution from new launches like gSuprep and market share gains in Albuterol Sulfate. Lupin has provided encouraging guidance on U.S. launches going ahead. Key limited competition launches expected include gSpiriva ($500 million brand sales), Darunavir (exclusive, ~$200 million brand sales), Diazepam gel (~$40 - $50 million brand sales), Nascobal nasal spray (exclusive, ~$40 - $50 million brand sales), Varenicline ($800 million – $1 billion sales), Pegfilgrastim (~$700 million sales), Dulera (~$150 million sales), and Glucagon (~$200 million sales). India business growth was sluggish during the quarter owing to loss of Cidmus in the base business and slow growth in diabetes portfolio (genericisation of gliptins). However, the remaining businesses performed well and as per expectations..Click on the attachment to read the full report:.Lupin Q2 Results: Net Profit In Line With Estimates.DISCLAIMERThis report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Lupin Q2 Results Review - Strong Recovery In North America Business; Beat On Margins: Systematix

North America business reported sales of $159 mn, due to a low base in Q1, contribution from new launches and market share gains.

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