Stockrabit · Analysts
Questions across 2 calls

Nikhil Mathur

Firm not listed in source transcripts

Lupin Limited

Lupin Limited CC-Feb26.pdf · 2026-02-13
First and foremost, congrats on the continued great performance. My first question is on the US outlook, let's say, going into FY29 as well. Now, obviously, with the Mirabegron settlement, it seems that Mirabegron should continue into FY27 and certain part of FY28 as well. But can you highlight what will be the drivers of the US business once Tolvaptan and Mirabegron start tapering off? You have Pegfilgrastim approval, we have talked about other respiratory assets. So, any help on how should we look at mean ingful launches over the next two years, so that once Mirabegron and Tolvaptan come off, and you go back to a growth part in the US any colour on this?
If I look at the three biosimilars that we've talked about in the more near term, which are Pegfilgrastim, Ranibizumab, Aflibercept. Now, assuming that approvals come through in FY27 , FY28 and FY29, these three combined products, can they contribute, let's say, USD 100 million or round about that kind of a number in next two, three years, the combined basket of these three products?
Lupin Limited CC-Dec23.pdf · 2024-02-08
So I have two questions. The first question is on the margin trajectory over the next two years-three years. So while you are guiding to a glide path of 22- % - 23% EBITDA margin at some point in time, what kind of generic cycle are you building in when you're trying to achieve these margins? I would imagine that there is some support from below -trend generics pricing erosion currently, but we have seen in the past this tends to be pretty cyclical. We don't know. I mean, maybe in FY26 there's a big down cycle again. So when you are expecting margins to improve going forward over the next two years- three years, what kind of generic cycle are you building into your base case assumptions?
Yeah. I mean, if there's a big down cycle, again, let's say 12 months down the line or 15 months down the line, then would a 22%-23% EBITDA margin be a far-fetched thing to kind of achieve?