Shares of Lupin Ltd fell sharply by 2.85% to ₹1,955.50 on Tuesday after the company lost a crucial patent litigation case in the United States related to the bladder medication Myrbetriq. The stock declined from its previous close of ₹2,012.80, emerging as one of the top losers in the pharma pack today.
A Delaware federal court ruled that Lupin and Zydus Pharmaceuticals failed to prove that Astellas Pharma’s US Patent 8,017,780 covering Myrbetriq was invalid. This verdict effectively means Lupin and Zydus must withdraw their generic versions of the drug from the US market and could potentially face financial penalties.
This is seen as a major negative for both companies, especially Lupin, which had counted on its US pipeline to drive growth. Analysts expect this decision to have a material impact on future revenue forecasts.
As of 12:46 PM IST, the stock was trading at ₹1,955.50, with a market capitalization of ₹889.50 crore. The day’s trading saw a range between ₹1,943.80 and ₹2,029.20, indicating heightened volatility amid the legal setback.
