Lupin shares hit 52-week high after launch of HIV drug Darunavir in US

Pharma major Lupin shares rose nearly 2% to hit a 52-week high of Rs 830.3 in Monday's trade on BSE after the firm announced the launch of Darunavir Tablets, 600 mg, and 800 mg, to market a generic equivalent of Prezista Tablets of Janssen Products, LP.

Darunavir Tablets, 600 mg and 800 mg (RLD Prezista) had estimated annual sales of $308 million in the US (IQVIA MAT March 2023), Lupin said in an exchange filing.

Darunavir tablets are indicated for the treatment of HIV-1 infections. The drug is taken with other HIV drugs to help control HIV infection. It aids in decreasing the amount of HIV in one's body so that the immune system can work better.

At 11.30 am, the scrip was trading 0.5% higher at Rs 821.3 on BSE. In the last month, the stock has surged over 16%, while it has risen over 35% in the past year.

In Q4FY23, Lupin reported a consolidated net profit of Rs 246.7 crore, which fell by 25.3% against a net profit of Rs 330.43 in the December 2022 quarter. The pharma player witnessed strong growth in EBITDA at Rs 615 crore, up by a whopping 117.8% YoY. Its revenue from operations stood at Rs 4,330.30 crore in Q4FY23, rising by 12% from Rs
3,864.50 crore in the same quarter a year ago.

As per Trendlyne data, the average target price of the stock is Rs 734, a downside of 11% from the current market prices. The consensus recommendation from 36 analysts for Lupin is a Buy.

Technically, the stock's day RSI (14) is at 79.8. The RSI below 30 is oversold, and above 70 is overbought, Trendlyne data showed. MACD is at 24.7, above its center and signal Line, a bullish indicator.

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