Weak US sales drags Lupin's Q1 show, revival hinges on key launches

The company reported a sharp 21 per cent decline in revenues in the US, much higher than its peers

The Lupin stock was down 6 per cent on Friday after the company reported a weak performance in the June quarter (Q1). Revenues fell by over 9 per cent, compared with the year-ago quarter, because of underperformance in the US. 

The company saw a 21 per cent decline in revenues in the US, which accounted for 35 per cent of consolidated revenues. This was higher than its peers, and its own run rate of $180-190 million over the last few quarters. Among the factors that impacted its US performance, were the recall of anti-diabetic Metformin, contraction in demand because of Covid-19,