New Delhi: Indian pharmaceutical firm Lupin Ltd expects single digit sales growth in 2018-19 due to sluggish US business that's likely to impact overall global business of the company. The Mumbai-based company, however, is anticipating double-digit growth in Latin America, South Africa and India.

"We expect to grow at a single-digit growth rate for the current year and then expect to get back on a stronger growth path next year on," Lupin managing director Nilesh Gupta said. "Latin America will grow around mid-to-late 20s in percentage terms, South Africa around 20% and India around 15%."

Lupin reported negative growth in 2017-18 for the first time in a decade, with net sales dropping to 15,560 crore, a decline of 9% from 2016-17. During the last fiscal, company's North America sales declined by 28.7% to 5,893.9 crore, accounting for 38% of its total global sales. Its India sales increased by 10.7% to 4,125.3 crore. Similarly, Latin America business grew by 28.1%, Europe, Middle-East and Africa by 11.2%, and Asia Pacific by 13.5%. Lupin had also reported a growth of 1.6% in its active pharmaceuticals business (API) business in last fiscal.

On Friday, Lupin shares rose 1.30%, or 11.70, to 910.40 on the BSE, while the benchmark Sensex ended flat at 35,622.14 points.

With inputs from PTI

Close