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Mumbai, Jan. 22 Intellectual Property-related payment, coupled with good performance in the domestic and overseas markets of the US and European Union helped buoy Lupin’s net profit for the third quarter ended December 31, 2007.

Sales of medicines in the Indian market saw a 26 per cent growth, Dr D.B. Gupta, Lupin’s Chairman, told Business Line. In the US and EU, growth was seen across the branded and generic medicine segments, he said. Further, he added that the company would launch about eight products in the EU in the forthcoming year.

The three months under review also saw Lupin receiving €20 million (Rs 110 crore) from France’s Laboratoires Servier for the sale of additional patent rights on Perindopril, a blood-pressure drug.

Meanwhile, the group’s consolidated net profit after minority interest is Rs 180 crore for the quarter ended December 31, 2007, as compared to Rs 62 crore for the quarter ended December 31, 2006. Total income increased from Rs 515 crore for the quarter ended December 31, 2006 to Rs 860 crore for the quarter ended December 31, 2007.

Lupin shares were down 6.88 per cent at Rs 500.20 on the BSE on Tuesday.

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