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Motilal Oswal Report
Perrigo Co. has recently announced that it is recalling its g-ProAir (Albuterol) MDI inhalers from the U.S. market due to a potential defect.
Perrigo’s g-Proair sales stood at $73 million in Q2 CY20.
Lupin Ltd. had received approval for g-ProAir in August 2020 and is believed to have launched the product in September 2020.
According to initial estimates, Lupin should record $80-90 million annualized sales from g-ProAir.
Thus, the disruption to Perrigo’s Albuterol has improved business opportunity for Lupin.
We remain positive on Lupin as it is at an inflection growth point in the developed markets, led by its niche launches.
It remains on track to 1. outperform in the Domestic Formulations segment, and 2. complete remediation measures at sites under regulatory issues.
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