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market | IST

Lupin weighs venturing into diagnostics space: Sources

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The company is interested in terms of exploring the opportunities in the healthcare space in India,

It’s a news heavy day for Lupin. One, the 7 observations to their Goa plant, which has now been made public and that’s the reason why the stock is in focus.
Second, according to sources, the company is looking to enter into the diagnostic space. However, the company is not looking to convert into a diagnostic company, but they are interested in terms of exploring the opportunities in the healthcare space in India,
Right now, they are setting up a laboratory in Navi Mumbai and they are looking at recruitment and staffing of this particular lab. So it is currently underway in terms of setup.
In fact, they have been doing it for the past couple of months. So it's not something which is too new. It is something which has been in the works. Nonetheless, this particular lab is expected to come on stream by Q3 of FY22.
Watch the accompanying video of CNBC-TV18’s Ekta Batra for more details.