MUMBAI, Oct 30 (Reuters) - India's Lupin Ltd
expects a pickup in sales in India and growing demand for its
branded drugs in the United States to boost growth in the
current fiscal year, its chief executive said on Wednesday.
The company, India's No. 3 pharmaceutical company by market
value, sees its India business growing by 18-20 percent by the
end of this fiscal year in March, Vinita Gupta told Reuters. The
drugmaker posted a 40 percent rise in quarterly profit.
Lupin's sales in India, which accounts for 25 percent of its
business, grew 9 percent in July-September from the year-ago
period. Sales had fallen in the June quarter due to a new
government drug pricing policy.
Under the policy, the prices of 348 drugs deemed essential
are being regulated, compared with 74 previously. The move has
curbed prices in a market where drug prices have already hit
rock-bottom due to a large generics industry.
Lupin sees its branded drugs business in the United States,
which brought in 10 percent of total U.S. sales in the September
quarter, accounting for 10-15 percent of sales in its largest
market in the next two quarters, Gupta said.
"In the U.S., we have a significant pipeline in place and
more exclusive products that would come to the market over the
next couple of years, including in the next couple of quarters
we have some good opportunities," she said.
"Looking forward to grow our brand business over the next
Lupin also plans to launch new products in December in
Japan, its third-largest market accounting for 12 percent of
sales, which are expected to add to revenue growth in the
remaining two quarters of this fiscal year.