Perindopril case: Lupin to pay Euro 40 million fine to European Commission
The European Court of Justice has upheld the European Commission's decision to impose a Euro 40 million fine on Lupin Limited. This penalty arises from a patent settlement agreement Lupin entered with Servier in January 2007 for the product Perindopril, which the Commission deemed anti-competitive.
Lupin is now required to pay Euro 40 million in fines plus accrued interest to the European Commission.
"However, there will not be any impact on the P&L of the Company for the current financial year since this was already provided earlier in the accounts on a prudent basis," the Company stated in a BSE filing.
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Lupin is an innovation-led transnational pharmaceutical company headquartered in Mumbai, India. The Company develops and commercializes 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.
The Company specialises in the cardiovascular, anti-diabetic, and respiratory segments and has a significant presence in the anti-infective, gastro-intestinal (GI), central nervous system (CNS), and women’s health areas. The company invested 7.8% of its revenue in research and development in FY24.
Lupin has 15 manufacturing sites, 7 research centers, more than 20,000 professionals working globally.
Read also: Lupin, Aurobindo Pharma unit recall products from US over manufacturing issues
