Lupin Slumps To Q4 Loss Amid US Opioid Action But Build Up In Inhalation, Biosimilars

Lupin ended the fourth quarter in the red hit by an impairment provision related to the "underperforming" assets of its Gavis acquisition but the firm's US inhalation pipeline appears to have made some progress, including a filing for tiotropium dry powder inhaler (DPI). Early stage biosimilars under development include, among others, versions of Neulasta and Xgeva/Prolia.

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LUPIN HAS BEEN FACING HEADWINDS IN THE US

Lupin Ltd. sunk to a loss in the fourth quarter after it made a sharp one-time impairment provision pertaining to its Gavis acquisition in the US. The Indian company reported a net loss of INR7.83bn ($115.4m) in the fourth quarter ended March 2018, while revenues for the quarter declined 5.2% to INR40.33bn.

Lupin had in 2015 snapped up the privately-owned niche firm Gavis Pharmaceuticals LLC and Novel Laboratories Inc. for...

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