Lupin gains on divesting Kyowa Criticare to Neopharma group

22 Aug 2019

Lupin is currently trading at Rs. 742.00, up by 6.80 points or 0.92% from its previous closing of Rs. 735.20 on the BSE.

The scrip opened at Rs. 735.85 and has touched a high and low of Rs. 744.25 and Rs. 732.65 respectively. So far 16395 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 986.00 on 10-Sep-2018 and a 52 week low of Rs. 697.30 on 19-Jun-2019.

Last one week high and low of the scrip stood at Rs. 749.40 and Rs. 722.35 respectively. The current market cap of the company is Rs. 33678.23 crore.

The promoters holding in the company stood at 46.96%, while Institutions and Non-Institutions held 38.66% and 14.38% respectively.

Lupin has entered into a definitive agreement through its Japanese subsidiary Kyowa (Kyowa Pharmaceutical Industry) for the sale of its Japanese Injectables business and related assets in Japan to neo ALA a wholly owned subsidiary of Neopharma group, the UAE's largest pharmaceutical manufacturer headquartered in Abu Dhabi. The plant and associated facilities are based out of Atsugi, Japan and has been engaged in sales and contract manufacturing of injectable products to meet various medical needs.

Under the terms of the agreement, the company has agreed to sell all the issued and outstanding share capital in Kyowa Criticare to neo ALA. The transaction is subject to customary closing conditions and has been approved by the Board of Directors of the company. This transaction does not involve or affect the other operations of Kyowa, namely research, manufacturing, marketing and distribution of oral solids and other dosage forms in Japan.

Lupin is an innovation led transnational pharmaceutical company developing and delivering a wide range of branded & generic formulations, biotechnology products and APIs globally.

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