Lupin plans to consolidate generic products
Drug major Lupin is devising plans to consolidate its generic portfolio across key geographies, including the US, with a focus on expansion of complex and specialty products.
The Mumbai-based company may look at acquisitions, besides enhanced investment in research and development (R&D), to achieve desired results.
"Moving forward, we will consolidate on our generic portfolio while focusing on complex generics and speciality products," Lupin Vice-Chairman Kamal K Sharma said in his address to shareholders in the company's Annual Report for 2016-17.
The drugmaker expects to tackle this challenge with appropriate acquisitions, calibrated investments in R&D, supported by right skill sets, he added.
"This would enable us to enhance the quality of our business and transcend from the existing paradigm towards new horizons," Sharma said.
Elaborating, Lupin Managing Director (MD) Nilesh Gupta and Chief Executive Officer (CEO) Vinita Gupta said the company will consolidate on the generic position across key geographies while building a meaningful specialty business.
"We will do this through building superiority in R&D, ensuring impeccable quality and compliance and commercial excellence while continually striving to be an employer of choice," they said.
The company endeavours to strengthen its portfolio with the launch of additional products developed and filed with the USFDA from its own pipeline as well as strategic brand acquisitions for future, they added.
The company has 154 abbreviated new drug applications (ANDAs) pending approval, addressing a total market size of over $74.9 billion.
Of these, 28 ANDAs are first-to-file opportunities catering to a market size exceeding $13.1 billion. This includes 14 exclusive first-to-file ANDAs targeting a market size of approximately $2.6 billion.
The US market accounts for around 48 per cent of the company's total revenues. Last financial year, the company's US revenues crossed the $1 billion mark, closing at $1,207 million, a growth of 37 per cent over 2015-16.
Last fiscal, the company's total net sales increased by 24 per cent to Rs 17,119.8 crore while net profit stood at Rs 2,557.5 crore.