Global pharma player Lupin Ltd has announced a strategic partnership with SteinCares, a prominent healthcare firm in Latin America. The collaboration is focused on the licensing and supply of Lupin’s biosimilar Ranibizumab, targeting markets across Latin America except for Mexico and Argentina.
Ranibizumab is a recombinant humanized IgG1 monoclonal antibody fragment that binds to and inhibits vascular endothelial growth factor A (VEGF-A). Under the terms of the agreement, SteinCares will manage regulatory filings, registrations, and the commercialization process across Latin America. Meanwhile, Lupin will be responsible for the manufacturing of the biosimilar. “Our partnership with SteinCares underscores our commitment to providing innovative, high-quality healthcare solutions to patients in LATAM,” stated Cyrus Karkaria, President Biotechnology at Lupin.
“This partnership with Lupin strengthens our portfolio and further reinforces SteinCares’ position as a biosimilar powerhouse in Latin America,” said Sebastián Katz, Chief Strategy Officer at SteinCares.
Looking forward, this partnership is likely to set a new benchmark in the Latin American biosimilar sector. With SteinCares’ established market presence and Lupin’s manufacturing capabilities, the agreement is poised to deliver both immediate and long-term benefits in healthcare advancements across the region.
On the stock-specific front, Lupin shares were up 0.56 per cent at Rs 1,990.20. At this level, the counter has slipped 15.85 per cent year-to-date (YTD). Nuvama Institutional Equities said the pharmaceutical giant’s stock recommendation remains at ‘Buy’ with a target price of Rs 2,530.
Technically, the scrip traded higher than the 5-day simple moving average (SMA) but lower than the 10-day, 20-, 30-, 50-, 100-, 150-day and 200-day simple moving averages (SMAs). Its 14-day relative strength index (RSI) came at 45.50. A level below 30 is defined as oversold while a value above 70 is considered overbought.
As per BSE, the stock has a price-to-earnings (P/E) ratio of 29.68 against a price-to-book (P/B) value of 4.14. Earnings per share (EPS) stood at 67.15 with a return on equity (RoE) of 13.95. According to Trendlyne data, Lupin has a one-year beta of 0.7, indicating low volatility.
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