The US FDA has approved Lupin’s product as bioequivalent to Lokelma for Oral Suspension, the reference listed drug (RLD) of AstraZeneca Pharmaceuticals LP. The product is indicated for the treatment of hyperkalemia in adults.
Sodium Zirconium Cyclosilicate for Oral Suspension, with Lokelma as the RLD, had estimated annual sales of $568 million in the US, according to IQVIA MAT June 2026 data.
ALSO READ | Lupin sees stronger FY27 US sales, expects India growth to outpace market
First Quarter Results
The pharmaceutical company reported a 16.1% year-on-year increase in net profit to ₹1,415 crore, compared with ₹1,219 crore in the year-ago quarter. Revenue from operations surged 33.3% YoY to ₹8,217 crore from ₹6,164 crore, supported by healthy growth across key markets.
Operating performance was even stronger, with EBITDA rising 47.3% to ₹2,390 crore from ₹1,623 crore a year earlier. Consequently, EBITDA margin expanded by 280 basis points to 29.1%, compared with 26.3% in Q1FY26.
Geographically, the US business remained the largest contributor, with revenue rising to $366 million from $282 million a year ago. Domestic sales in India increased 14% to ₹2,379.6 crore, while other developed markets recorded 48.3% growth to ₹1,149.4 crore.
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Emerging markets also delivered strong momentum, with revenue climbing 51.7% to ₹989.7 crore. Lupin invested ₹607.7 crore, or 7.4% of sales, in research and development during the quarter, while capital expenditure stood at ₹278.6 crore.
Commenting on the results, Managing Director Nilesh Gupta said the company began FY27 on a strong note, supported by robust growth across key markets and improved profitability. He added that Lupin’s continued focus on execution, operational excellence, technology and innovation would help drive sustainable and profitable long-term growth.
Brokerage firm Macquarie has an ‘Outperform’ rating on Lupin with a price target of ₹2,750. The brokerage said the company reported a strong first quarter, with revenue, EBITDA and profit after tax (PAT) exceeding its estimates by 7%, 23% and 17%, respectively.
ALSO READ | Lupin’s US business to stay above $1 billion; biosimilars and specialty portfolio to drive growth
Shares of Lupin Ltd ended at ₹2,275.00, down by ₹85.00, or 3.60%, on the BSE.
