Pharma major Lupin is evaluating the possibility of creating alliances and brand acquisitions in the US markets in 2015-16/
Pharma major Lupin is evaluating the possibility of creating alliances and brand acquisitions in the US markets in 2015-16/
The United States is Lupin's largest market and contributed 45% of the company's revenues in 2014-15.
"In 2015-16, the company remains committed to continuing to strengthen its branded portfolio with the launch of additional products by not only creating alliances but also developing its own pipeline and making strategic brand acquisitions in US markets," Lupin said in its annual report here. "Going forward, meaningful acquisitions are going to be vital to our growth strategy and we are targeting geographies, complementary product portfolios and therapies that we feel are missing from our current portfolio. "We are investing in people, processes, technology and systems," Lupin's managing director Nilesh Gupta said.
"Over the coming years, we envision a new Lupin, replete with differentiated products and strong market presence, a complex generics and specialty pharmaceutical major. We are also committed to building a world-class, research driven, quality specialty and generics powerhouse."
The US continues to be the principal growth engine for the company, and its performance in the US over the last 10 years had been one of the most exciting growth stories in the pharmaceutical industry; that of the creation of a top 10 global generic powerhouse and an emerging specialty pharmaceutical player.
The company's US subsidiary, Lupin Pharmaceuticals Inc (LPI) is recognised as a preferred supplier of quality generics into the US, servicing large US wholesale and retail channel partners. Lupin today is the sixth largest, and the fastest growing among top 10 pharmaceutical corporations in the US with its market share growing from 4.3% to 9%.
Its US revenues grew by 12% to $891 million during 2014-15, up from $803 million in 2013-14. The US brands business contributed $80 million or 9% of total US sales during financial year 2014-15, while the generics business contributed $811 million or 91% of total US sales. The company clocked generic revenues of $811 million during 2014-15, up from $723 million in the previous fiscal.
This growth is against the backdrop of industry challenges like heightened pricing pressures resulting from rapid customer consolidation, increased generic competition on previously launched exclusive and semi-exclusive products as well as a visible slowdown of product approvals in the US, the company said. It has launched 11 new products, including the successful commercialisation of generic versions of Monodox 75 mg and Celebrex, to name two high profile exclusive and semi-exclusive launches.
The company filed 18 ANDAs for the US market during financial year 2014-15 and now has 99 ANDAs pending for approval and launch, addressing a total market size of over $62 billion. Of these, 34 ANDAs are first-to-file, addressing a market size of over $8 billion.
"We have 15 exclusive first-to-file ANDAs, addressing a market size of $2.5 billion approximately," the company said.
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