Lupin Settles Mirabegron Patent Dispute with Astellas for $90 Million

• Lupin and its US subsidiary will pay Astellas $90 million to resolve a patent infringement dispute over the bladder control drug Mirabegron.
• The payment includes a $75 million prepaid option and an undisclosed per-unit license fee until September 2027.
• The settlement removes a key overhang on Mirabegron in the US market, improving revenue visibility through mid-FY28.
• Mirabegron is a significant product for Lupin, contributing over $100 million annually to its US revenues.
• The deal eliminates intellectual property risk but may pressure margins due to upfront and ongoing fees.