Regulatory delays in the US may have brought down the number of products launched during the year in that market, but Lupin, India’s second largest drug-maker, doesn’t think it is a reason for concern.
The company had projected to launch 15 to 20 products this fiscal in the US, but the actual number of drugs launched was nine, Managing Director Nilesh Gupta told BusinessLine .
“It’s far from where we would like to be,” he said, adding it was an issue facing the entire industry.
However, he was optimistic about the financial year ahead. About 15 to 20 products would be launched in the coming year.
The US market, like India, is usually a key growth-driver for Lupin. While the US saw 1 per cent growth in sales in the three months ended December 31, the Indian market saw a mega merger between Sun Pharma and Ranbaxy taking place.
Sun has proposed to buy Ranbaxy for $4 billion. According to Gupta, these developments did not impact Lupin’s operations that were spread across international geographies.
Lupin is also looking at a big ticket acquisition. “Our lens has been expanding over the last three years.”
The company will see more action in therapeutic areas such as dermatology in international markets, Gupta said.
Commenting on US drug-maker Mylan’s recent acquisition of certain women’s healthcare businesses from Famy Care for around ₹4,900 crore, Gupta said Mylan was always big in the segment and that the deal did not change the dynamics in the market. Lupin has a presence in the women’s health and oral contraceptives segment.
Q3 performance During the December quarter, Lupin saw a 26 per cent growth in net profit at ₹601 crore, compared with ₹476 crore in the corresponding period last year.
The company clocked total revenues of ₹3,177 crore in the quarter, up 5 per cent from ₹3,022 crore a year ago.
Lupin’s US sales in the period increased by 1 per cent to $217 million, while its India finished drugs business expanded by 14 per cent to ₹743 crore in the third quarter.
Japan sales saw a 9 per cent increase in Japanese yen terms, though in Indian currency, it posted a 4 per cent decline.
On Tuesday, the company’s scrip shed 0.67 per cent to ₹1,545.30 on the BSE.