Lupin no longer bullish on Japanese market as price rules prove a dampener

Volumes in that market keep growing at 10 per cent a year, but from a value perspective, the growth is single-digit at best, the firm says

Pharmaceuticals major Lupin stayed invested in Japan when most Indian peers quit. Its Japanese subsidiary has grown at a 15 per cent compound annual rate in the past decade.

However, with stringent price regulations, Japan has become an unattractive market for the company and is no longer, says Lupin, bullish on it.

In  a recent candid chat with Business Standard, managing director Nilesh Gupta had said that from a volume perspective the Japanese market keeps growing at 10 per cent yearly but from a value perspective, single digit growth at best. "The main reason (behind this) is the price cuts