The Hindu Business Line : Lupin expects to have product in Europe early next fiscal

Lupin expects to have its first product in the European market by the first quarter of the next fiscal, the company's Managing Director, Dr Kamal K. Sharma, said.

About 350 pharmaceutical marketing companies have evinced interest in the product submissions that Lupin has made in Europe, he told Business Line. The company has made about 10 product-related submissions in Europe and expects to get regulatory clearance by the last quarter of this fiscal, he added.

The pharmaceutical marketing company usually buys the dossier from the company which makes the product and milestone payments are paid subsequently to the latter as different criteria laid out in the agreement are met, he said.

The product-dossiers for Europe are across product and therapeutic categories, he said, including cephalosporins, cardiac and central nervous system segments.

Lupin has about seven of its products in the US and has already made submissions in Australia. The company also hopes to make submissions for regulatory approvals in Japan this year.

Lupin is also moving ahead on in-licensing deals, he said. As part of its first such deal for India, Lupin will exclusively market ItalFarmaco's cardiovascular product, Enoxaparin Sodium Injection, in pre-filled syringes under the brand name Lupenox.

Q4 and year-end results

Meanwhile, Lupin's net profit for the fourth quarter ended March 31, 2006, was up by 131 per cent at Rs 50.2 crore, as against Rs 21.7 crore in the previous year. Dr Sharma said that the growth was riding on sales in the international and domestic markets coupled with improved efficiency. Sales for the period under review were up 45 per cent at Rs 434.4 crore (Rs 299 crore).

During the quarter, the company had incurred higher expenditure on research at Rs 33.6 crore, being 7.7 per cent of gross sales, a company statement said.

Net profit for the year ended March 31, 2006, increased by 117 per cent to Rs 182 crore (Rs 84.4 crore).

Total income increased from Rs 1,179. 9 crore in 2004-05, as compared to Rs 1,678.61 crore for 2005-06.

Lupin's board has recommended a bonus issue at a ratio of 1:1, the company said.

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