It said the company’s announcement of generic Rivaroxaban 2.5 mg (Xarelto 2.5mg) tablets in the US is an “at risk” launch as the patent litigation is still ongoing. The patent will expire in 2039.
Besides Lupin, Sun Pharma too has received the approval and may launch the product any time, it added.As per IQVIA, this a $446 million brand and may initially contribute $7 million to $10 million per quarter in a two-player market.
However, more players may enter the space since settlements probably are more or less similar to Lupin, Citi said.
Brokerage firm Nomura too has a “buy” rating on the stock with a target price of ₹2,350 per share. This is an upside of 15.7% on the stock.It said, Lupin’s launch of gXarelto is slightly ahead of its expectations.
The pharma company announced the launch of gXarelto 2.5 mg in US last week after the final approval from USFDA.
As per IQVIA, the product has an annual sales of $446 million. However, the estimate market size is $125 million at manufacturer price.
The overall market size of Xarelto , including other strengths, in the US is at $2.5 billion. The brokerage said it thinks Lupin is one of the four first filers on the 2.5 mg strength.
Out of the 37 analysts covering Lupin, 22 of them have a “buy” rating on the stock, 10 say “hold”, while five of them have a “sell” rating.
Lupin shares were trading 0.49% higher at ₹2,040 apiece at 10 am on Monday, March 10. It has declined 13.72% this year, so far.
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