Lupin, Zydus shares slide after losing Myrbetriq patent Case in US Court

Shares of Lupin and Zydus Lifesciences slid on Wednesday, April 16, after losing a patent case related to Mirabegron, the generic equivalent of Myrbetriq, to Astellas Pharma in US Federal Court.

Myrbetriq is used in the treatment of overactive bladder.

Zydus Lifesciences' share price declined 6.81% to ₹823 apiece on the National Stock Exchange (NSE) at 3:18 pm.

Lupin shares fell 3.71% to ₹1,938.1 on the NSE.

Both Lupin and Zydus were selling generic versions of Myrbetriq. Astellas Pharma sued them, stating that this was an infringement on its patent rights.

The report, citing analysts, said that the two companies may also face monetary penalties, apart from withdrawing existing stock from the market.

Zydus was reportedly making $35 million from the sales of the generic drug, while Lupin was generating quarterly revenue of $25-$30 million, the report said.

Myrbetriq, a prescription drug, is used to treat overactive bladder with symptoms like frequent urination and urinary incontinence.

In the third quarter of the financial year 2024-25, Zyudus Lifesciences had posted a 30% year-on-year (YoY) increase in its net profit to ₹1023.5 crore. Sequentially, it rose 12.3%.

Revenue from operations climbed 17% to ₹5,269 crore in Q3 FY25 as against ₹4,505 crore a year back.

Lupin had posted a consolidated net profit of ₹858.9 crore, reflecting an increase of 38.8% YoY. Sales stood at ₹5,618.6 crore, up 10.6% YoY.