Mumbai: Indian pharma major Lupin Ltd expects continued growth in US sales this fiscal on its rising branded and generics business, a top official said late on Thursday.
The Mumbai-based drugmaker had reported about 37% rise in US sales in FY10 to Rs1,650 crore. “We expect sales to rise more than 20% in the current year,” S Ramesh, president, finance and planning, told Reuters but declined to be pinned down to a definite figure.
“If the past is a prescription of future performance, then we would continue to grow as we have done in all geographies including US.”
Lupin’s net sales in regulated markets like the US and Europe grew 40% to Rs496 crore in the April-June quarter this year over Rs350 crore in FY10. “There are a lot of things happening in the US but I cannot comment about acquisition plans at this moment,” he added.
Lupin’s performance in the highly competitive US market remains robust while its Indian peers have seen sluggish growth.
Glenmark Pharmaceuticals’ US unit reported a 6% rise in revenue to Rs182 crore in April-June while Aurobindo Pharma’s US operating income grew 6.4% in the same period to Rs216 crore.
Oral Contraceptive Boost’
Lupin has plans for an aggresive foray into the oral contraceptive segment with some 26 product launches planned over the next few years, Ramesh said. “The first products would hit the market this October,” he said, addding the segment is expected to clock sales of about $125 million by 2013.
The drugmaker is also looking at “more and more product launches” in Japan, which sees government-supported drug price revisions every three years, he said.
“The government cuts prices of key drugs by 15-16 percent every three years. But we plan to counter this by new launches and planning huge volumes,” he said.
Lupin had acquired Japan’s Kyowa Pharmaceutical Industry in 2007, which clocked revenue of Rs130 crore in April-June. At 12.39 p.m., shares of Lupin were trading at Rs404.4, up 1.34% in a firm Mumbai market.