Lupin Hit By US Settlement, Japan Injectables Selloff
Goa And Somerset Plants Are Up For Re-inspection By March
Despite 10% revenue growth, Lupin ended up with a second-quarter loss from a one-time charge from settling a US lawsuit and the sale of its Japan injectables business. The firm is now counting on levothyroxine and secnidazole to carry it through the next few quarters, amid speculation that it might divest its Japanese subsidiary.
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Lupin has announced that the US FDA has slapped its Mandideep plant in central India with a warning letter after the company failed to fix compliance problems detected by inspectors in late 2018.
Boehringer Ingelheim intends to combine Lupin’s MEK inhibitor with its own KRAS inhibitors to target the oncogenic KRAS-RAF-MEK-ERK pathway, mutations in which drive many difficult-to-treat cancers.
Lupin sells Japanese injectables business, eight years after it made an acquisition in that segment there. The Indian firm now plans to concentrate on building a hybrid pharma model in the country.