Description
Lupin Limited and Sun Pharmaceutical Industries clarify they did not receive letters from US government regarding drug pricing as reported in media.
Summary
Lupin Limited and Sun Pharmaceutical Industries Limited have issued clarifications to BSE and NSE regarding media reports claiming that US President Trump sent letters to 17 global pharmaceutical companies seeking lower drug prices. Both companies confirmed they did not receive any such letters from the US government and stated there is no material impact on their operations.
Key Points
- Both Lupin and Sun Pharma confirmed they did not receive letters from the US government regarding drug pricing
- The clarifications were issued in response to stock exchange queries about news reports on www.moneycontrol.com
- Companies stated there is no company-specific development or material impact
- Both companies emphasized compliance with SEBI disclosure regulations
- Stock price movements were attributed to general market reaction to the news report
Regulatory Changes
No regulatory changes announced in this circular.
Compliance Requirements
- Companies required to clarify media reports that could impact stock prices
- Continued compliance with SEBI Listing Obligations and Disclosure Requirements Regulations, 2015
- Prompt disclosure of material events as and when they occur
Important Dates
- August 01, 2025: Date of clarification letters from both companies
- July 31, 2025: Reported date when US President allegedly sent letters (as per media reports)
Impact Assessment
The clarifications aim to address market concerns and provide transparency regarding the companies’ involvement in reported US drug pricing initiatives. Both companies emphasized that the media reports were not specific to them and no material impact is expected on their operations. The responses demonstrate proactive disclosure practices to maintain market confidence.
Impact Justification
Market clarification from major pharma companies addressing media reports affecting stock prices