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Despite Imminent Etanercept Launch, Lupin Cuts FY21 Forecast

Trump Order A Near-Term Opportunity

 
• By Vibha Ravi

Despite plans to launch a biosimilar to Enbrel in August and a generic to ProAir in September, Lupin cut its FY21 EBITDA forecast to 17% from 19-20%, as first-quarter revenues were hit by COVID-19 and a recall of metformin in the US. Meanwhile, it sees the US “Buy American” order for some essential medicines as a near-term opportunity

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Lupin's First Quarter Performance Guides Lower FY21 Forecast • Source: Shutterstock

Lupin Limited is hopeful of a revival in US sales from the third quarter at most but has cut its FY2021 EBITDA estimate to 17% from 19-20% guided earlier.

The revision was made after sales of flu products halved, metformin was recalled and demand contracted due to advance stocking by consumers in March, leading to a 23% plunge

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