Lupin net up 101% at Rs 112 crore

Revenues of the company stood at Rs 879.2 crore, a rise of 49 per cent from revenues of Rs 591.3 crore posted in the corresponding period last year. International market revenues also recorded 88 per cent increase, at Rs 517.5 crore.

"The launch of Ramipril in the US, post successful litigation bears testimony to the quality of our filings. Our investments in the European market and some of the emerging markets have begun to bear the fruit, which will stand us in good stead and are confident of continuing this momentum in the coming quarters," said Kamal K Sharma, managing director, Lupin.

Lupin had launched generic version of Ramipril, a hypertension drug in the market during the quarter, following a patent litigation win against the innovator company. King Pharmaceutical's branded product of Ramipril - Altace capsules, had an annual sales of $ 920 million in 2007. Lupin's advanced markets formulation business in USA and Europe clocked in sales of Rs 253 crore, with a growth of 69 per cent. Bulk drug sales in the advanced markets also grew by 47 per cent to Rs 20 crore.

Business from US alone contributed Rs 232.4 crore, with a growth of 56 per cent over the corresponding previous year quarter. The company has 30 drugs approved for marketing and another 35 applications are pending for approval with the US Food and Drug Administration(FDA).

Kyowa, the Company's subsidiary in Japan posted robust sales at Rs 92 crore, contributing 14 per cent to Lupin's overall performance.

Formlations revenues increased from emerging markets including India grew 22 per cent during the quarter to Rs 328.7 crore and bulk drug sales grew 16 per cent to Rs 179.5 crore.