The Hindu Business Line : Lupin gets €20 m in patent sale deal

Mumbai, Oct 12 Lupin Ltd has received €20 million (Rs 110 crore) from France’s Laboratoires Servier for the sale of additional patent rights on Perindopril, a blood-pressure drug. This is the second intellectual property-related payment made to Lupin this year by Laboratoires Servier.

Earlier this year, Lupin had received a similar amount from the French company on the sale of certain patent applications and other related IP on the generic version of the same drug.

Will help boost profit

The payment is expected to reflect in Lupin’s profits in the third quarter. Coming at a time when a strong rupee is projected to be a drag on the bottomlines of companies, the research-related payment will help buoy profits, a source familiar with the development said. “This income significantly boosts our performance for the current year,” said Dr Kamal K. Sharma, Lupin’s Managing Director.

Lupin clocked a net profit of Rs 78 crore in the first quarter and is set to announce its second quarter results in the coming fortnight.

The Mumbai-based drug maker is looking to increase its research spend to over Rs 150 crore this year, Lupin’s Chairman, Dr D.B. Gupta, had told Business Line, earlier this year. The company had invested over six per cent of its sales, about Rs 136 crore in research last year.

Lupin shares closed marginally up at Rs 596.85 on the BSE.

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