LUPIN

Dec 19 (Reuters) - Biomarin Pharmaceutical Inc BMRN.O:

• BIOMARIN TO ACQUIRE AMICUS THERAPEUTICS FOR $4.8 BILLION, EXPANDING POSITION AS A LEADER IN RARE DISEASES, ACCELERATING REVENUE GROWTH AND STRENGTHENING FINANCIAL OUTLOOK

• AMICUS THERAPEUTICS INC - BIOMARIN TO BUY AMICUS FOR $14.50 PER SHARE IN CASH

• AMICUS THERAPEUTICS INC - BIOMARIN TO FINANCE DEAL WITH CASH AND $3.7 BILLION DEBT

• AMICUS THERAPEUTICS INC: DEAL EXPECTED TO BE ACCRETIVE TO NON-GAAP DILUTED EARNINGS PER SHARE IN FIRST 12 MONTHS POST-CLOSE

• AMICUS THERAPEUTICS INC: PENDING U.S. GALAFOLD IP LITIGATION RESOLVED

• AMICUS THERAPEUTICS : DEAL SUBSTANTIALLY ACCRETIVE TO NON-GAAP DILUTED EPS BEGINNING IN 2027 TO BIOMARIN

• AMICUS THERAPEUTICS: ENTERED LICENSE AGREEMENTS WITH AUROBINDO & LUPIN FOR GALAFOLD 123 MG CAPSULES

• AMICUS THERAPEUTICS: TO GRANT AUROBINDO AND LUPIN LICENSES TO MARKET GENERIC VERSIONS OF GALAFOLD IN US FROM JAN 30, 2037

Source text: ID:nPn6mkX9xa

Further company coverage: BMRN.O

(([email protected];))

Dec 16 (Reuters) - Lupin Ltd LUPN.NS:

• RECEIVES EIR FROM US FDA FOR NAGPUR FACILITY

Source text: ID:nBSE6KS4CK

Further company coverage: LUPN.NS

(([email protected];))

Repeats Friday's story without changes

By Aditya Kalra, Nikunj Ohri and Shivam Patel

NEW DELHI, Dec 12 (Reuters) - India and France have struck a deal to revise their 1992 treaty which will halve the tax on dividends paid by Indian units to French parents, potentially saving millions for companies with major operations in the South Asian nation, documents show.

In return, India will get to widen its powers to tax share sales by French investors, and revoke the "most favoured nation" status of France that gave it certain tax advantages, according to confidential Indian government documents reviewed by Reuters.

Bilateral trade between India and France stood at $15 billion last year, and Indian Prime Minister Narendra Modi and French President Emmanuel Macron have been forging warmer ties. The two sides have been working to recast their tax treaty since 2024 to modernize it by adapting global standards on tax transparency.

"The proposed amending protocol will boost flow of investment, technology and personnel between India and France, and will provide tax certainty," said one of the Indian government documents from August.

The new treaty could have implications for large French portfolio investors as well as companies like Capgemini CAPP.PA, Accor ACCP.PA, Sanofi SASY.PA, Pernod Ricard PERP.PA, Danone DANO.PA and L'Oreal OREP.PA -- all of which have expanded their presence in India in recent years.

A key change is that French companies which hold a stake of more than 10% in any Indian entity will have to pay a 5% tax on the dividends they receive, instead of 10% earlier.

For minority French shareholdings of under 10% in Indian companies, however, dividend tax will rise from 10% to 15%.

Many French firms' Indian units like Capgemini Technology Services India, BNP Paribas Securities India and TotalEnergies Marketing India have declared dividends in the past, their Indian regulatory disclosures show. The Capgemini CAPP.PA unit's dividend stood at $500 million in 2023-24.

France's tax office said it could not comment for this story given the negotiations are ongoing, while the finance ministry did not respond to Reuters' queries.

India's foreign and finance ministries also did not respond.

Capgemini and Danone declined to comment while the other French companies did not respond to Reuters' queries.

CHANGES TO CAPITAL GAINS, SERVICES TAX

Currently, India can impose taxes on any French entity's share sale, but only when it holds more than 10% of an Indian company. The new proposed treaty will remove that threshold.

The new treaty "will provide for full source-based taxation rights in respect of capital gains on equity shares (in India)," said the Indian documents.

France-based foreign portfolio investors (FPIs) own $21 billion worth of shares in Indian companies as of November 2025, a third higher than levels in 2024, Indian share depository data shows.

And more than 40 French companies hold stakes of under 10% in Indian entities, according to an analysis by Indian market intelligence platform Tracxn.

"This will impact French FPIs in India and also French companies holding minority interest in Indian companies. These investments were not subject to tax under the current treaty," said Riaz Thingna, a partner at Grant Thornton Bharat LLP.

One official familiar with the deliberations told Reuters on condition of anonymity that Indian and French officials have agreed the terms of the new treaty, which will likely be signed in the coming weeks.

In New Delhi, the deal is subject to final approval by Prime Minister Narendra Modi's cabinet, according to the documents.

Reuters is the first to report the planned changes to India-France treaty.

India has also agreed to France's demand to limit tax on fees for technical services to cases where a French provider transfers technical know-how, removing most routine consultancy and support services from the scope of India's tax.

"This can help French companies that render services like design consultancy, cybersecurity and market research," Thingna said.

NO MORE 'MOST FAVOURED NATION'

Differences over how to interpret the so-called most-favoured nation, or MFN, clause were among the main reasons for the renegotiation, the official said.

If a country has an MFN clause with India under a signed treaty, it typically starts claiming lower tax rates if New Delhi strikes more favourable tax terms later with another OECD nation.

But a landmark Indian Supreme Court decision in late 2023 said countries can't automatically start doing so, triggering concerns in France.

"This decision led to a sharp deterioration in the legal and economic security of French companies in India. The potential additional tax cost was estimated at 10 billion euros for existing contracts alone," said the official.

India and France have reached a decision to delete the MFN clause from their treaty which had historically benefitted only France, according to Indian government documents.

That was to put an end to disagreements related to its interpretation that have led to "tax uncertainty and protracted litigation," said one document.

Switzerland in January also suspended its application of the MFN clause in its India treaty citing the Supreme Court ruling.

(Reporting by Aditya Kalra, Nikunj Ohri and Shivam Patel in New Delhi; Additional reporting by Dominique Patton and Leigh Thomas in France; Editing by Toby Chopra)

((Email: [email protected]; X: @adityakalra;))

** Lupin LUPN.NS rises 1.38% to 2,062 rupees, highest since May 19

** Pharma co receives Establishment Inspection Report from U.S. FDA for its Aurangabad facility, following product specific pre-approval inspection in September

** Stock rated "buy" on avg; median PT is 2,265 rupees, per data compiled by LSEG

** YTD, LUPN down 12.5%

(Reporting by Mridula Kumar in Bengaluru)

(([email protected];))

Nov 12 (Reuters) - Lupin Ltd LUPN.NS:

• LUPIN - COMMISSIONS DEDICATED ONCOLOGY BLOCK AT VIZAG FACILITY

Source text: ID:nBSE8fCN0k

Further company coverage: LUPN.NS

(([email protected];;))

Oct 13 (Reuters) - Lupin Ltd LUPN.NS:

• ANNOUNCES PRESENTATION OF PHASE 1 DATA ON LNP3693 (STING AGONIST)

Source text: ID:nBSEbC38QP

Further company coverage: LUPN.NS

(([email protected];))

Oct 11 (Reuters) - Lupin Ltd LUPN.NS:

• LUPIN: U.S. FDA HAS CONDUCTED A PRE-APPROVAL INSPECTION AT OUR MANUFACTURING FACILITY LOCATED IN SOMERSET, NEW JERSEY, USA

• LUPIN: THE U.S. FDA INSPECTION WAS CONDUCTED FROM SEPTEMBER 29 TO OCTOBER 10, 2025 AND CONCLUDED WITH ONE OBSERVATION

Further company coverage: LUPN.NS

(([email protected];))

** Lupin LUPN.NS rises 3.6% to 1,973.70 rupees; set to snap four-session losing streak

** Pharmaceuticals co plans to build new   manufacturing  facility  in Coral Springs, Florida

** Projected cumulative investment of $250 mln in new facility for R&D, infra and capital expenditures over five years

** New site will have capacity to accommodate production of more than 25 critical respiratory medicines

** Co to get tax credits, incentives from Florida

** Citi says U.S. investment may help co smoothly navigate geopolitical risks like tariffs

** YTD, LUPN falls ~16%

(Reporting by Vijay Malkar)

(([email protected];))

** Shares of Lupin LUPN.NS fall 2% to 1,934 rupees

** The pharmaceutical co's Pithampur Unit-2 is classified as OAI (Official Action Indicated) following the US FDA's inspection in July 2025 and received four Form 483 observations

** Classification implies that the site will not receive any new approvals until the observations are addressed- Nomura

** The observations were primarily related to sterile operations at the Pithampur Unit-2, which produces oral solids and ophthalmic products - Nomura

** We think the observations were largely for the ophthalmic product manufacturing - Nomura

** Stock rated "buy" on avg by analysts covering it; median PT is 2243 rupees - as per LSEG data

** Stock down 18% YTD

(Reporting by Komal Salecha)

(([email protected];))

** Shares of Lupin LUPN.NS jump 4% to 1,986.50 rupees, top gainer on pharma index .NIPHARM, which is up 1%

** Co receives U.S. Food and Drug Administration approval for its generic Rivaroxaban for oral suspension

** The drug, which helps treat blood clots and prevent them from coming back in children, will be manufactured at its unit in Maharashtra

** Drug's oral suspension had estimated annual sales of $11 million in the U.S.

** 35 analysts have a "buy" rating on avg; median PT is 2,243 rupees - data compiled by LSEG

** YTD, LUPN down ~16% YTD vs Nifty pharma's 7.4% decline

(Reporting by Urvi Dugar)

(([email protected];))

Sept 30 (Reuters) - Lupin Ltd LUPN.NS:

• LUPIN LTD - RECEIVES U.S. FDA APPROVAL FOR RIVAROXABAN ORAL SUSPENSION

Source text: ID:nBSE1jRDl1

Further company coverage: LUPN.NS

(([email protected];))

** Shares of Lupin LUPN.NS rise 2.2% to 2,031 rupees

** Stock top gainer in Nifty Pharma index.NIPHARM, which is up 0.3%

** Investec upgrades pharma co to "Buy" from "Hold"; raise PT to 2,265 rupees from 2,100, implying 14% upside from last close

** Sees Lupin well-placed to benefit from India's emerging anti-diabetes drug (GLP-1) opportunity, citing its strong positioning in diabetes, cardiac, diagnostics, and consumer segments

** Says consistent execution in complex generics and recent momentum in U.S. business, aided by favorable macro factors

** Highlights niche injectables and potential upside from biosimilars and inhalation products

** LUPN rated "Buy" by 35 analysts on average; median target price is 2,243.5 rupees – data compiled by LSEG

** YTD: LUPN down 13.3% vs Nifty Pharama down 4.8%

(Reporting by Rudra Pratap Singh in Bengaluru)

(([email protected]))

Sept 10 (Reuters) - Lupin Ltd LUPN.NS:

• LUPIN RECEIVES U.S. FDA APPROVAL FOR RISPERIDONE LONG-ACTING INJECTABLE, WITH 180-DAY CGT EXCLUSIVITY, THE FIRST PRODUCT FROM ITS NANOMI'S LONG-ACTING INJECTABLE PLATFORM

Source text: ID:nPre4jhhwa

Further company coverage: LUPN.NS

(([email protected];))

Sept 3 (Reuters) - Lupin Ltd LUPN.NS:

• LUPIN - RECEIVES U.S. FDA APPROVAL FOR RISPERIDONE LONG-ACTING INJECTABLE

Source text: [ID:]

Further company coverage: LUPN.NS

(([email protected];;))

By Nancy Lapid

Aug 30 (Reuters) - A decades-old pill remains helpful for heart attack patients even with modern treatments that can prevent lasting damage to heart muscle, two large trials have shown.

Still unclear is whether all patients, or only some, benefit from so-called beta-blocker drugs, which are typically prescribed to everyone after a heart attack.

Two sharply contradictory reports were presented on Saturday at a large cardiology meeting in Madrid and published in The New England Journal of Medicine.

“It is not unusual for trials to yield different results,” said Dr. Borja Ibanez of Centro Nacional de Investigaciones Cardiovasculares Carlos III in Madrid, who led one of the trials.

“Somewhat uncommon is to see two trials with apparently divergent findings presented on the same day.”

Most important, Ibanez said, is the finding both teams agree on, which is that beta-blockers reduce the combined risk of another heart attack, heart failure, or death in patients without heart failure but with mildly impaired heart function.

The question is whether the pills are beneficial or useless for those with normally functioning hearts, who account for about 80% of patients after a first heart attack.

Beta-blocker manufacturers include Mylan, Novartis NOVN.S, Pfizer PFE.N, Abbott, Teva Pharmaceutical Industries TEVA.TA, Amneal Pharmaceuticals AMRX.O, Sun Pharmaceutical Industries SUN.NS, Lupin, ANI Pharmaceuticals ANIP.O, and Eagle Pharmaceuticals EGRX.PK.

The drugs work by inhibiting the hormones epinephrine and norepinephrine, thereby lowering heart rate and blood pressure, decreasing the workload on the heart and reducing its oxygen demand.

Both new trials involved heart attack survivors whose hearts were still contracting normally, that is, the left ventricle was pumping out at least 40% of its blood with each beat. Both trials followed patients for roughly 3.5 years.

Among 5,574 volunteers in the BETAMI–DANBLOCK study from Norway and Denmark, the drugs showed a clear benefit. Patients randomly assigned to receive beta-blockers had a 15% lower risk of death or major adverse cardiovascular event, particularly a repeat heart attack, compared to patients not taking these pills, investigators found.

But among the 8,438 participants in the REBOOT trial conducted in Italy and Spain, beta-blockers had no effect on the incidence of death from any cause, a repeat heart attack, or hospitalization for heart failure, according to a separate report.

Some of the difference may be due to the fact that patients didn't all receive the same beta-blockers, and the Scandinavian patients might have been more prone to adverse events because they were slightly older than patients in Spain and Italy and more of them had mild heart dysfunction, said Dr. Dan Atar of the University of Oslo, who led one of the trials.

Among female participants in REBOOT, those taking beta-blockers - particularly those with good heart function receiving higher doses – had more adverse outcomes than women not taking the drugs, researchers reported in the European Heart Journal.

In REBOOT, researchers did see a lower rate of new heart attacks, heart failure, or death with beta-blocker use by patients with mildly reduced heart function, as indicated by a left ventricular “ejection fraction” between 40% and 49%.

The effect in this subgroup was confirmed in an analysis of data pooled from REBOOT, BETAMI–DANBLOCK, and a Japanese trial, according to a report published in The Lancet.

The message for cardiologists, Ibanez said, is “We can now state with confidence that beta-blockers are beneficial” in patients with mildly impaired heart function, and “there remains reasonable uncertainty about their benefit” in patients with normally functioning hearts.

Atar said an analysis looking specifically at beta-blocker use by patients with normal heart function will be presented at a U.S. cardiology meeting in November.

(Reporting by Nancy Lapid; editing by Caroline Humer and Diane Craft)

(([email protected];))

Aug 20 (Reuters) - Lupin Ltd LUPN.NS:

• LUPIN - LAUNCHES BOSENTAN TABLETS FOR ORAL SUSPENSION IN UNITED STATES WITH 180-DAY EXCLUSIVITY

Further company coverage: LUPN.NS

(([email protected];))

July 9 (Reuters) - Lupin Ltd LUPN.NS:

• CO AND ZENTIVA SIGN AGREEMENT FOR CERTOLIZUMAB

• BOTH PARTIES WILL INVEST IN DEVELOPMENT OF NEW BIOSIMILAR

• TO RECEIVE INITIAL PAYMENT OF USD 10 MILLION, MILESTONE PAYMENTS UP TO USD 50 MILLION

Source text: ID:nNSE2vSMv7

Further company coverage: LUPN.NS

(([email protected];;))

July 1 (Reuters) - Indian drugmaker Lupin LUPN.NS said on Tuesday it will spin off its consumer healthcare business, LupinLife Consumer Healthcare into a separate unit, effective July 1.

(Reporting by Manvi Pant in Bengaluru)

(([email protected]; +918447554364;))

June 30 (Reuters) - Lupin Ltd LUPN.NS:

• EXECUTED BUSINESS TRANSFER AGREEMENT FOR TRANSFER OF OTC BUSINESS TO LUPINLIFE CONSUMER

• TRANSFER OF OTC BUSINESS EFFECTIVE FROM JULY 01, 2025

Source text: [ID:]

Further company coverage: LUPN.NS

(([email protected];;))

June 26 (Reuters) - Lupin Ltd LUPN.NS:

• LUPIN - LAUNCHES PRUCALOPRIDE TABLETS IN UNITED STATES

Further company coverage: LUPN.NS

(([email protected];))

June 16 (Reuters) - Lupin Ltd LUPN.NS:

• LUPIN - CO AND SINO UNIVERSAL PHARMACEUTICALS SIGN LICENSE AND SUPPLY AGREEMENT FOR TIOTROPIUM DPI IN CHINA

• LUPIN- LUPIN, SINO UNIVERSAL PHARMA SIGN LICENSE AND SUPPLY AGREEMENT FOR TIOTROPIUM DPI IN CHINA

• LUPIN- LUPIN WILL BE THE MARKETING AUTHORIZATION HOLDER AND RESPONSIBLE FOR MANUFACTURING

Further company coverage: LUPN.NS

(([email protected];))

May 20 (Reuters) - Lupin Ltd LUPN.NS:

• LUPIN AND HONEYWELL MOVE FORWARD JOINTLY WITH PLANS FOR HFO TECHNOLOGY IN INHALERS

Further company coverage: LUPN.NS

(([email protected];;))

May 8 (Reuters) - Lupin Ltd LUPN.NS:

• RECEIVES U.S. FDA APPROVAL FOR RALTEGRAVIR TABLETS USP, 600 MG

• ELIGIBLE FOR 180-DAY GENERIC EXCLUSIVITY FOR RALTEGRAVIR

Source text: ID:nBSE2fS4Wn

Further company coverage: LUPN.NS

(([email protected];;))

** India's Lupin LUPN.NS and Eris Lifesciences ERIS.NS rise about 2% each

** Macquarie says both pharmaceutical cos well-positioned to gain market share in India's insulin market after report suggests Novo Nordisk NOVOb.CO may discontinue some key brands in India

** Novo Nordisk is discontinuing India's largest selling insulin, Human Mixtard, among other older insulin brands in India, as per a Times of India report earlier this week

** LUPN on course for fifth consecutive session of gains, while ERIS rises for third day in a row

** Assuming the two companies capture Novo's vacated market share equally, it could mean ~10% revenue upside for ERIS and ~1% for LUPN - Macquarie

** Brokerage has "outperform" rating on LUPN and ERIS

** YTD, LUPN down 8.8%, while ERIS up 10.8%

(Reporting by Vivek Kumar M)

(([email protected];))

April 17 (Reuters) - Lupin Ltd LUPN.NS:

• RECEIVES EIR FROM US FDA FOR NAGPUR FACILITY

• EIR ISSUED AFTER INSPECTION FROM JUNE 10 TO JUNE 13, 2024

Source text: ID:nBSE4mtxpR

Further company coverage: LUPN.NS

(([email protected];;))

** India's Zydus Lifesciences ZYDU.NS and Lupin LUPN.NS shed 6.6% and 3.8%, respectively

** Drugmakers lose patent litigation case in US for mirabegron, a generic version of Astellas Pharma's 4503.T bladder disorder drug Myrbetriq

** ZYDU and LUPN top losers on pharma index .NIPHARM which is down 0.2%

** It is a negative development for Zydus and Lupin as loss in litigation implies that they have to withdraw the drug from the market and could see some financial penalty, says Equirus

** Brokerage estimates $35 mln in quarterly sales from mirabegron for ZYDU and $25-30 mln for LUPN

** YTD, ZYDU drops ~15% while LUPN falls ~18%; pharma index down 11%

(Reporting by Kashish Tandon in Bengaluru)

(([email protected]))

Adds analyst comments in paragraphs 11-12, updates share moves throughout

By Manas Mishra and Ananta Agarwal

April 9 (Reuters) - Global drugmakers' stocks dropped across the board after U.S. President Donald Trump reiterated plans for a "major" tariff on pharmaceutical imports, threatening an interwoven global supply chain, and as his country-specific reciprocal tariffs took effect, leading to more pain in global markets.

Pharmaceutical imports were initially exempt from Trump's first set of reciprocal tariffs last week — but his administration has since indicated that levies on the sector, which in the past has been excluded from such actions, are coming.

The U.S. president has said the tariffs will incentivize drug companies to move operations to the United States. However, analysts and companies have raised concerns about the difficulty in setting up manufacturing in the country.

Shares of major U.S. drugmakers Amgen AMGN.O, AbbVie ABBV.N, Pfizer PFE.N, Merck MRK.N and Eli Lilly LLY.N fell between 3% and 6% in premarket trading.

In Europe, a basket of healthcare stocks .SXDP fell 5% to its lowest since October 2022, leading losses among sectoral indexes on the region-wide STOXX 600 .STOXX, which was down 3.3% at 1013 GMT. The index was heading for its biggest one-day drop since March 2020.

Trump had also threatened the duties on Friday after his first set of "reciprocal" tariffs exempted pharma products. Trump has not said when and by how much he plans to raise levies on pharma imports.

"While the details are scant, we are strongly opposed to tariffs on any pharmaceuticals — these will likely do little to shift manufacturing back to the U.S.," said BMO Capital Markets analyst Evan Seigerman.

"Given the complexity of the pharma supply chain, we do not expect the industry to make any major changes. These current tariffs are being pursued under emergency powers, which at worse will last until the end of the current administration and could end sooner with an act of Congress."

Seigerman also pointed to concerns over recent layoffs at the U.S. Food and Drug Administration, saying the worries were now compounded by the "real talk" of pharma tariffs.

ADDITIONAL COSTS, LONG WAIT FOR PRODUCTION

Europe and the U.S. have interconnected supply chains for medicines. The United States depends on medicines partly produced in Europe that bring in hundreds of billions of dollars in revenue.

Bernstein analyst Courtney Breen wrote in a note that her worst-case scenario assumes tariffs could be steep, leading to about $53 billion in additional costs paid for pharmaceutical imports.

If companies did choose to bring new manufacturing to the United States, Breen expects additional spend of $2 billion for each new "green field" site and a five-year runway to production.

EU medical and pharmaceutical product exports to the U.S. totaled about 90 billion euros ($97 billion) in 2023, according to latest Eurostat data.

Shares of AstraZeneca AZN.L, GSK GSK.L, Roche ROG.S, Sanofi SASY.PA and Novartis NOVN.S fell between 5% and 6.5% in Europe. Meanwhile, Indian pharmaceutical stocks .NIPHARM closed nearly 2% lower, dragging down the benchmark Nifty 50 .NSEI by 0.6%.

IPCA Laboratories IPCA.NS, Glenmark Pharma GLEN.NS and Biocon BION.NS were the top losers by percentage on the pharma index in Mumbai, ending the trading session between 4% and 5.5% lower.

India's pharma exports to the U.S. mostly comprise generics, or cheaper versions of popular drugs. The United States accounts for a third of India's overall pharma exports.

(Reporting by Kashish Tandon, Ananta Agarwal and Manas Mishra in Bengaluru and Anna Pruchnicka in Gdansk; Editing by Savio D'Souza, Mrigank Dhaniwala and Shounak Dasgupta)

(([email protected]))