Lupin falls as India, Japan sales falter

Shares in drugmaker Lupin down 7.3 percent after April-June domestic revenue falls 5 percent from a year ago, along with a 12 percent drop in sales in Japan.

The government's new drug pricing regulation, which seeks to cap prices of medicines deemed essential, has also had an impact on India sales, Lupin's Group President Nilesh Gupta told Reuters.

Meanwhile, a drug manufacturing contract that was deferred hurt sales at Lupin's Japanese unit, Gupta added.

Lupin had earlier reported consolidated net profit rose 43 percent to 4.01 billion rupees, while consolidated net sales rose 9.1 percent.