Lupin announces achievement of Key Milestones for its Clinical Stage MEK Inhibitor Compound

Global pharma major Lupin Limited (Lupin) today announced the achievement of key milestones for Lupin's MEK inhibitor compound (LNP3794) that is planned for development by Boehringer Ingelheim in combination as potential targeted therapy for patients with difficult-to-treat cancers.

As part of the agreement, Lupin has received payment of USD 50 million from Boehringer Ingelheim for achievement of key milestones.

Lupin and Boehringer Ingelheim inked a licensing, development and commercialization agreement in 2019 for Lupin's novel oncology compound to treat KRAS-driven cancers. Lupin's MEK inhibitor developed as part of its oncology pipeline had previously shown pre-clinical activity as a single agent as well as in combination.

Lupin's New Chemical Entity Research team is focused on building a pipeline of highly differentiated and innovative new chemical entities, primarily in the oncology space. Lupin's NCE activities were started with the vision to use cutting-edge research in bringing novel molecules that address unmet medical needs in multiple therapeutic areas to market globally.

Shares of LUPIN LTD. was last trading in BSE at Rs.1194.9 as compared to the previous close of Rs. 1210.9. The total number of shares traded during the day was 53146 in over 2293 trades.

The stock hit an intraday high of Rs. 1219.05 and intraday low of 1192.1. The net turnover during the day was Rs. 64071091.

Source : Equity Bulls

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