Update shared on 23 Dec 2025
Analysts have modestly maintained their conviction on Lupin with the analyst price target effectively unchanged at ₹2,280.84, reflecting stable assumptions on revenue growth, profitability and valuation multiples despite minor model refinements.
What's in the News
- European regulator CHMP issued a positive opinion for Lupin's biosimilar ranibizumab Ranluspec for multiple retinal indications, moving the product closer to centralized EU approval and commercialization via Sandoz and Biogaran in select markets (CHMP, EMA).
- Lupin received an Establishment Inspection Report with Voluntary Action Indicated status from the US FDA for its Nagpur injectable facility following a September 2025 inspection, supporting the plant's readiness for US supply (US FDA).
- The company obtained tentative US FDA approval for Siponimod tablets, a generic version of Mayzent, to treat relapsing forms of multiple sclerosis, with the product to be manufactured at its Pithampur site (US FDA).
- Lupin entered an exclusive licensing agreement with Valorum Biologics for its biosimilar pegfilgrastim Armlupeg in the US. Under this agreement, Lupin will manufacture and supply the product and will earn upfront and royalty payments (company announcement).
- Lupin is reported to be in early stage talks, alongside private equity firms including EQT Partners and TPG Capital, to acquire UK based vitamins maker Vitabiotics in a potential deal valued at around £1 billion (media reports).
Valuation Changes
- Consensus analyst price target remained unchanged at approximately ₹2,280.84, indicating no revision to overall fair value assumptions.
- The discount rate stayed steady at 12.76 percent, suggesting no change in the perceived risk profile or cost of capital.
- Revenue growth inched up from about 6.36 percent to 6.36 percent, reflecting a slightly more positive outlook for the top line.
- The net profit margin moved down marginally from about 14.23 percent to 14.23 percent, implying almost identical profitability expectations.
- The future P/E ratio was effectively unchanged at about 35.35 times, indicating stable valuation multiples applied to forward earnings.
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