Lupin hits over four month high; stock rises 5% in two days

Shares of Lupin hit an over four month high of Rs 931 per share on Wednesday, rising 3% from the previous close and extending their 2% gain on the BSE on Tuesday. The stock of pharmaceutical company was trading at its highest level since January 29, 2018.

In past one month, Lupin has outperformed the market by surging 23% as compared to 1.4% rise in the S&P BSE Sensex.

On June 28, Lupin said that it has partnered with Mylan to commercialize Enbrel (Etanercept) biosimilar. Under the terms of the agreement, Lupin will receive an up-front payment of