Monday , 20 September 2021
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Lupin surges as its arm to acquire 100% stake in Southern Cross Pharma Pty

Lupin surges as its arm to acquire 100% stake in Southern Cross Pharma Pty

Lupin is currently trading at Rs. 1114.30, up by 28.65 points or 2.64% from its previous closing of Rs. 1085.65 on the BSE.

Lupin

The scrip opened at Rs. 1088.00 and has touched a high and low of Rs. 1117.25 and Rs. 1081.10 respectively. So far 31236 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 2 has touched a 52 week high of Rs. 1267.50 on 02-Jun-2021 and a 52 week low of Rs. 856.00 on 10-Nov-2020.

Last one week high and low of the scrip stood at Rs. 1191.65 and Rs. 1078.00 respectively. The current market cap of the company is Rs. 50206.08 crore.

The promoters holding in the company stood at 46.84%, while Institutions and Non-Institutions held 40.69% and 12.47% respectively.

Lupin’s wholly-owned subsidiary — Generic Health has entered into a definitive agreement under which Lupin will acquire 100% of the shares of Southern Cross Pharma Pty (SCP). As a part of the transaction, Generic Health will gain access to over 60 registered products having sales of over Australian dollar 30 million (approximately $22 million). This will significantly increase Lupin’s value proposition and market share in the Australian market.

Lupin is an innovation-led transnational pharmaceutical company headquartered in Mumbai, India.

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