Lupin eyes launch of 25 products in the US next fiscal
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New Delhi: Drug major Lupin expects to launch over two dozen products in the US next fiscal but said its revenues in the market could be muted with competitors expected to launch rival products in its key categories.
“We expect to launch around 25 products in the US in the next fiscal. Our focus remains on the speciality drugs business in the US,” Lupin Ltd managing director Nilesh Gupta said. The Mumbai-based drug firm launched four products in the US market during the third quarter ended 31 December. It received 11 approvals from the US Food and Drug Administration (USFDA) during the period. It now has a portfolio of 128 generic products in the US market.
When asked about the outlook in the US market for the next fiscal, Gupta said: “Generic products like Fortamet and Glumetza have boosted our sales in the US market but with competition coming in with other companies expected to launch products in same category, we could see US sales to get muted than otherwise” Both Fortamet and Glumetza are anti-diabetes products, which are among the key growth drivers of the company.
During the third quarter the company’s US formulations sales grew by 53.4% to $316 million as compared to same period of previous fiscal. Lupin is in the process of building a portfolio of niche products, including respiratory devices, which are difficult to manufacture and therefore command higher prices.
The company’s focus remains on segments like dermatology and complex injectables and is also expecting USFDA approval for a metered-dose inhaler to treat asthma. Its sales during the quarter stood at Rs4,404.9 crore as against Rs3,350.3 crore in the corresponding period of the preceding fiscal, up 31.5%, it added.