Lupin Limited shares surged over 3% following the company’s announcement of a major expansion in the United States. The pharmaceutical giant revealed plans to build a state-of-the-art manufacturing plant in Coral Springs, Florida, aimed at enhancing domestic production of critical respiratory medicines.
The new facility represents a cumulative investment of $250 million over five years, covering research and development, infrastructure, and capital expenditures. Once operational, the plant will produce more than 25 essential respiratory medicines, including lifesaving albuterol inhalers for children with asthma and service members both at home and abroad. This expansion is a strategic step to strengthen domestic manufacturing and diversify the supply chain, ensuring medicine security in the U.S.
Located on over five acres, the 70,000-square-foot Coral Springs facility is expected to create more than 200 long-term skilled jobs in Broward County by 2030. Lupin’s project has also earned recognition from the state of Florida, with the company set to receive tax credits and incentives for its investment and job creation plans.
To implement this strategic initiative, Lupin is collaborating with key local and state partners, including Florida Commerce/Select Florida, the City of Coral Springs, the Greater Fort Lauderdale Alliance, the Broward County Commission, and local workforce and college partners.