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BUZZ-India's Lupin slumps to near 3-yr low on weak qtrly results
May 25, 2017 / 4:24 AM / 6 months ago

BUZZ-India's Lupin slumps to near 3-yr low on weak qtrly results

** Lupin Ltd falls as much as 7.7 pct to its lowest since Aug. 8, 2014

** Pharma company posted a 49 pct fall in consolidated net profit for the March quarter, missing analysts’ estimates

** Says it expects more pricing pressure in the United States and is currently seeing price erosion in the high single digits

** “U.S. business will continue to see pressure in FY18 and growth will be a challenge led by increased competition in key products and elevated pricing pressure,” analysts at Jefferies write

** Stock set to post fourth straight session of losses

** Stock has fallen 17.4 pct this year as of Wednesday’s close

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