Lupin has seen sharp gains of more than 13% in May and is trading at about 31 times FY22 earnings estimates
Expectations were running low from Lupin Ltd as far as its performance in Q4 went, particularly on the US business growth front. The weak flu season was likely to result in lower sales for flu treatment products such as Tamiflu. Besides, year-ago sales of these products represented a relatively high base.
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