Lupin Contributes INR 21 Crores Towards COVID-19 Relief Efforts

Pharma major Lupin Limited (Lupin) announced a contribution of INR 21 crores for relief efforts directed towards mitigating the COVID-19 crisis. Lupin’s Global Giving Program comprises of three separate contributions made by its employees, the Company and the promoter family.

Lupin’s employees have contributed generously by giving two days of their individual salaries, together contributing a sum of INR 5.5 crores to the Prime Minister’s Citizen Assistance and Relief in Emergency Situations Fund (PM CARES Fund). Lupin has matched an equal sum of INR 5.5 crores for direct initiatives that the company will implement to support overburdened national and state healthcare systems through donation of personal protective equipment, medicines and providing meals for front-line workers and the needy.

In addition, the promoter Desh Bandhu Gupta family has committed a sum of INR 10 crores for other direct impact initiatives in India and elsewhere in the world to supplement Lupin’s relief efforts to tackle the COVID-19 crisis.

Commenting on this, Mr. Nilesh Gupta, Managing Director, Lupin said, “We commend the Central and State governments in India and other authorities globally for taking proactive measures to control the spread of the coronavirus. As one of the leading pharmaceutical companies globally, Lupin remains committed to ensure uninterrupted supply of medicines across India and global markets while ensuring safety of our personnel involved. We are grateful for this opportunity to support those who are at the front-line of this battle against COVID-19.”

Shares of LUPIN LTD. was last trading in BSE at Rs.787.75 as compared to the previous close of Rs. 705.35. The total number of shares traded during the day was 709018 in over 25744 trades.

The stock hit an intraday high of Rs. 797.65 and intraday low of 730. The net turnover during the day was Rs. 547183868.-Equity Bulls