Lupin targeting to double its Japan sales
Lupin has set a target to double its sales in the Japanese market to US$ 500 million in the next five years.
New Delhi, September 29, 2012: Drug firm Lupin is aiming to double its sales in Japan to US$ 500 million in the next five years, banking on the enhanced market penetration.
The Mumbai-based pharmaceutical company has its presence in Japan through its two wholly-owned subsidiaries Kyowa Pharmaceutical Industry and I'rom Pharmaceuticals. For the record, the company is expecting to achieve sales of US$ 250 million from Japan during this fiscal.
It is believed that the company may even go for selective acquisitions in order to achieve the desired growth in the Japanese market. The company acquired I'rom Pharmaceuticals last year whose revenue stood at Rs 860.7 crore for the year ended March 2012.
With a strong product pipeline and expansion of market penetration along with backward integration with Indian manufacturing and marketing infrastructure partnerships, the company is confident that it will be able to achieve its target in the Japanese market within the set timeline.
The company expects the Japanese market will expand in the next three to five years as patents worth US$ 10 billion are set to expire in the coming few years.