Global pharmaceutical company Lupin Ltd. and SteinCares, a well-known healthcare organization in Latin America, have established a strategic alliance.
Targeting markets throughout Latin America, with the exception of Mexico and Argentina, the partnership is concentrated on the license and distribution of Lupin's biosimilar Ranibizumab.
A recombinant humanized IgG1 monoclonal antibody fragment called ranibizumab attaches itself to vascular endothelial growth factor A (VEGF-A) and blocks it.
As per the agreement, SteinCares will oversee the commercialization process, registrations, and regulatory filings throughout Latin America. Lupin will be in charge of producing the biosimilar in the interim.
"Our partnership with SteinCares underscores our commitment to providing innovative, high-quality healthcare solutions to patients in LATAM," states 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," says Sebastián Katz, Chief Strategy Officer at SteinCares.
In the future, this collaboration is likely going to establish a new standard in the Latin American biosimilar market. The partnership has the potential to improve healthcare in the area both now and in the future due to SteinCares' well-established market presence and Lupin's production capabilities.
In terms of individual stocks, Lupin's shares were up 0.56 percent at Rs 1,990.20. The counter has lost 15.85 percent year-to-date (YTD) at this level. 'Buy' is still the stock recommendation for the pharmaceutical company, according to Nuvama Institutional Equities, with a target price of Rs 2,530.
Technically, the stock was lower than the 10-, 20-, 30-, 50-, 100-, 150-, and 200-day simple moving averages (SMAs), but higher than the 5-day SMA. 45.50 was its 14-day relative strength index (RSI). Oversold is defined as a level below 30, and overbought is defined as a value beyond 70.
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According to the BSE, the stock's price-to-book (P/B) ratio is 4.14 and its price-to-earnings (P/E) ratio is 29.68. The return on equity (RoE) was 13.95 and the earnings per share (EPS) was 67.15. Lupin has a one-year beta of 0.7, which indicates moderate volatility, based on Trendlyne data.