Lupin eyes growth from US with strategic brand acquisitions
The drug firm is looking at strengthening its brand portfolio with launch of additional products developed and filed with the USFDA.
Mumbai, August 28, 2013: Lupin Ltd is looking strengthening its position in the US pharma market with strategic brand acquisitions along with launch of additional products developed and filed with the USFDA. IT may be noted here that the US business of the company grew 54 per cent to Rs 3,683 crore during FY13, up from Rs 2,393 crore in FY12. The brands business contributed 21 per cent of the total US sales while the generics business contributed 79 per cent during FY 13.
"The company aims to strengthen its branded portfolio with the launch of additional products developed and filed with the USFDA from its own pipeline as well as through strategic brand acquisitions," said Mr Kamal K Sharma, Managing Director, Lupin in the annual report.
"The creation of an advanced bio-technology programme and expansion of a truly global novel drug discovery and development pipeline have added (another) dimension to the company's readiness to reinforce sustainability in the long-term", he added.
Lupin Pharmaceutical Inc (LPI) is the US subsidiary of the Indian drug firm headquartered in Baltimore, Maryland and is the fifth largest generic player (by prescriptions) in the US and also the fastest growing generic player in the top 5 for the fourth year running.
The company has been able to build one of the best generic product pipelines for the US market addressing a market opportunity valued at US$ 80 billion.