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Lupin Cuts Forecast Despite Etanercept Launch

Firm Sees Trump 'Buy American' Order As Near-Term Opportunity

Executive Summary

Despite plans to launch a biosimilar to Enbrel in August and a generic to ProAir in September, Lupin cut its FY21 EBITDA forecast to 17% from 19-20%, as first-quarter revenues were hit by COVID-19 and a recall of metformin in the US. Meanwhile, it sees the US “Buy American” order for some essential medicines as a near-term opportunity.

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