Lupin Bets Big on Obesity Drugs: Stock in Focus After GLP-1 Deal

Synopsis: The share of the company gained investors’ attention after the company announced an exclusive agreement with Gan & Lee Pharmaceuticals to target 174 million adults classified as overweight in the Indian market with Bofanglutide injection.

The shares of this company, which develops and commercializes a wide range of branded and generic formulations, biotechnology products, and APIs in over 100 markets, are in focus after it announces an entry into a license that will boost its diabetes portfolio.

With a market capitalization of Rs 94,548 crore, Lupin Ltd’s shares on Tuesday made a day high of Rs 2,099.60, up by 1 percent from its previous day’s closing price of Rs 2,079.50  per share. The shares have given a return of 106 percent over a period of five years.

Lupin has signed an exclusive agreement with China-based Gan & Lee Pharmaceuticals to bring Bofanglutide, a new long-acting GLP-1 injection, to India. The deal gives Lupin sole rights to supply and market the drug in the country, strengthening its diabetes portfolio while also marking a clear push into the fast-growing obesity treatment space.

Bofanglutide is designed to be taken once every two weeks, offering greater convenience compared with existing weekly GLP-1 injections. Clinical studies suggest it delivers weight-loss results that are as good as, or better than, current alternatives, while maintaining the safety profile expected from the GLP-1 class. With India facing a sharp rise in diabetes, with 90 million adults already affected by it and obesity cases of around 50 million, Lupin is positioning the therapy to address a major and expanding public health challenge.

The anticipated health crisis in India, with  174 million adults classified as overweight, the management of Lupin added that this partnership demonstrates the company’s strategic focus on the GLP-1 class of drugs and highlights the company’s dedication to delivering high-quality, innovative therapies for its patients

Lupin is an innovation-led transnational pharmaceutical company headquartered in Mumbai. Lupin develops and commercialises a wide range of branded and generic formulations, biotechnology products, and APIs in over 100 markets in the U.S., India, South Africa, and across the Asia Pacific (APAC), Latin America (LATAM), Europe, and Middle East regions.

This license will add to the Lupin Indian product portfolio, where the company saw a growth of business by 3.4 percent YoY. This is achieved by the firm leveraging its Chronic Leadership, Outperformance in Key Therapeutic Segments, and looking forward to a Healthy Pipeline of launches in FY26.

Financial performance, revenue grew by 24 percent to Rs 7,048 crore in Q2 FY26, corresponding to the same quarter in the last financial year. Accompanied by 75 percent growth in EBITDA YoY to Rs 2,341 crore, and Net profit grew by 73 percent YoY to Rs 1,485 crore in Q2 FY26.

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