Lupin targets brands in US, eyes 20% growth

Firm mum on which brands it is eyeing, says also plans entry into Latin America

Drug major Lupin is looking to acquire brands and technology firms to increase reac in the US market as the company aims to grow sales by over 20 per cent in the world's most lucrative drug market over the next two years.

The Mumbai-headquartered firm is also looking to expand in the Latin American region.

"We are looking to acquire brands in the US market and and also eyeing companies that are based on technology platform," Lupin Ltd Managing Director Kamal K Sharma told PTI.
 
He said the company would grow over 20 per cent in the US aided by enhancement of speciality business, including oral contraceptives portfolio.
 
"We should grow at 20 per cent year-on-year for the next two years. We are following a three pronged strategy which includes addition of more value added products, increasing reach and acquisitions," Sharma said.
 
He, however, did not share details on the brands or companies which the company plans to acquire in the US market.
 
Lupin's US formulations revenue grew 22 per cent to Rs 2,530.3 crore during FY12 as compared to Rs 2,079.8 crore in FY11.
 
During 2011-12 fiscal, the company also entered the US oral contraceptives space and has already launched three products in the segment.
 
The company, which seeks to evolve into a speciality pharma company has gone beyond generics and has started filing for approvals for niche speciality segments like high-end dermatological products.
 
The company is also looking to target the anti-asthama and chronic obstructive pulmonary disease (COPD) therapy segments.
 
On the Latin American market, Sharma said: "We are trying to get deeper into the continent."
 
Lupin had entered Latin American market over a year ago by setting up a subsidiary, Lupin Mexico SA de CV, which has started filing products for the market.
 
The company would be addressing the branded and the generic pharmaceutical space within the Mexican market, the company had said earlier.
 
According to company sources, the company is looking to tap opportunities in the Latin America as many countries were putting in place guidelines that could lead to the market expanding considerably in the years to come.