Lupin at a new high

Lupin hit a new today at Rs.1442.30 and it continues to remain strongly in the positive and trades in the Rs.1436 range.

There is unconfirmed news that Lupin in the final satges of negotiations with Merck Serono wherein Lupin will manufacture Merck’ $1.5 billion worth branded drugs at Lupin’s facilities while Merck will retain the rights to market the drugs in developed countries. Analysts tracking the stock say that if this does materialize, the company will easily add Rs.1000 to 1200 crore to its topline