Lupin to take inorganic route for expansion in US
Lupin is planning to acquire brands and technology firms in the US market. The company expects its US operations to grow by 20 per cent over the next two years.
New Delhi, July 30, 2012: The Indian drug major Lupin is looking at acquiring brands and technology firms in order to expand its base in the US. The expansion is expected to fuel the company’s ambition to grow by 20 per cent year-on-year in the world’s most lucrative drug market over the next two years.
Moving on a three-pronged strategy of more value added products, increasing reach and acquisitions, the company plans to expand its base in the US market in the next couple of years.
While the management is still tight-lipped about the companies that they are looking to acquire, it is important to note here that the US formulations revenue for the company grew by 22 per cent at Rs 2,530.3 crore in FY12 as compared to FY11.
Lupin is expecting to touch the ambitious growth target by enhancement of speciality business, including oral contraceptives portfolio. In fact, the company entered into the US oral contraceptives space during FY2011-12 and is currently present with a portfolio of three products. In addition, Lupin is also planning to expand in the Latin American market.
The company which is aiming to become a speciality pharma company has now moved beyond generics and has stated filing approvals for the high-end dermatological segment.