Lupin’s stock price is in focus after the company announced the “at risk” launch of generic Rivaroxaban 2.5mg tablets (Xarelto 2.5mg) in the US market. Citi has maintained its buy rating, setting a target price of ₹2,260, implying an upside of 11.39% from the current market price (CMP) of ₹2,029.00.
The launch remains risky, as patent litigation is ongoing, with patent expiry in 2039. However, Lupin could initially capture $7-10 million per quarter in a two-player market, as Sun Pharma’s Taro has also received approval and may enter soon. The total brand market size is $446 million (IQVIA), but additional competitors may emerge if settlements follow a similar structure.
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