Indian pharma giant Lupin's shares surged more than 2 per cent to touch the all time high level after the company declared that it had added Huminsulin in India to its diabetes portfolio by purchasing it from Eli Lilly and Co.
The shares of Lupin went on touch the all time high level of Rs 2,373.90 per share on Indian bourses after ringing the opening bell at Rs 2,310.25 per share with a 0.47 per cent upside on the Indian exchnages.
Lupin shares price were trading around Rs 2,363.25 per share on the Indian exchanges with gains of 2.25 per cent amounting to Rs 51.90 per share on the bourses.
The multinational pharmaceutical company had previously used distribution and promotion agreements with Eli Lilly to market the Huminsulin line of products.
Insulin Human, which includes Huminsulin R, Huminsulin NPH, Huminsulin 50/50, and Huminsulin 30/70, was the product of its marketing efforts, the company stated in a release on December 30.
Lupin Q2 FY25
Driven by higher sales, pharmaceutical giant Lupin Ltd. reported a strong 74.1 per cent year-over-year increase in its consolidated net profit, reaching Rs 852.63 crore for the July-September quarter of FY25.
In comparison, last year's same quarter saw a profit of Rs 489.67 crore. The company made Rs 5,672.73 crore during the quarter, which was 12.6 per cent more than the Rs 5,038.56 crore it made during the corresponding quarter in the previous financial year.
About Huminsulin range
Type 1 and type 2 diabetes mellitus are treated with the Huminsulin product line, which also helps adults and kids better control their blood sugar levels.
"The mainstay of managing type 1 diabetes is insulin therapy, which frequently becomes required as type 2 diabetes worsens over time.
