 "Lupin CEO Vinita Gupta")
Lupin is focusing on its inhalation portfolio to grow its international business. The idea is to monetise the inhalation and respiratory pipeline developed for the US market to other regulated markets like Europe, Japan, China and Australia. Lupin’s CEO Vinita Gupta tells Sohini Das about the company’s global plans. Edited excerpts:
What are the major product launches lined up for the US?
Respiratory products have become a major growth driver for us in the US, albuterol in particular. It has ramped up well over the last few quarters and now has a meaningful market share of over 20 per cent. Similarly, in brovana we have about 45 per cent share in that product. The rest of our business in the US has been stable. We have had a weak flu season. Otherwise we are pleased with the revenue growth. In the second half of this calendar year or the first quarter of FY23, we expect to launch a few products in the US such as Spiriva. Also, we expect to launch our first biosimilar in the US pegfilgrastim. This will require an inspection of our Pune site, and we expect to launch it in the second half of FY23 fiscal year.
Are you planning to shift more production to India to offset growing cost pressures in the US?
We have shifted production to India for some of our products such as our nasal spray products. For some other first to file (FTF) products in the US, we are transferring production to some contract manufacturers in the US and India. We are always looking at ways and means for improving our cost position in the products and risk mitigation.
The India business is flat sequentially in Q3FY22. What is the outlook?
Year on year, the India business has grown 12 per cent, but it’s flat on a sequential basis. That’s because last year we had significant growth in the respiratory products portfolio. In the Covid products portfolio, we are very pleased to have launched molnupiravir. It has just started just a couple of weeks back. Clinicians will get comfortable over time with the product once they see results. Practising physicians see molnupiravir as an important part of the regimen.
Tell us about your plans for growing the diagnostics business.
We see more contribution to the India business to come from the diagnostic business. We got into thinking about our doctor-network — to offer solutions for their patients, etc. We have established a national laboratory, and so far have seven centres (clinics) in place – four of our own, and three are partnered. In the fiscal year 2023, you will see rapid expansion in our own clinics and those of our partners. Diagnostic business will be small in the near-term in terms of the total India business.
How are your China entry plans shaping up?
We have recently announced our partnership with Fancoo for our CNS products, which we are very pleased with. We are looking forward to getting those products approved and launched in China through our partnership. We are actively working on our respiratory and inhalation pipeline (products developed for the US), which are opportunities for us in China. We are actively working on developing a China pipeline.
What are your plans for other regulated markets?
Apart from the US, which is the largest regulated market now, we have presence in the UK, Canada, Germany, Australia and in Japan (through our partnership). We are working on more partnerships in Japan to have a pipeline of complex generics and biosimilars. In Canada, for example, we have developed a business of branded generics, inhalation products, etc. In Europe, we are largely focused on Germany, followed by the UK and France. Our respiratory pipeline will be big in Europe. In Australia, we have a strong base. We have a deal with Southern Cross Pharma (acquired the company) that will make us among the top-three generic players in that market.
Any plans to reduce raw material dependence on China?
Roughly 25 per cent of our materials are imported. We are highly self-sufficient in terms of APIs and other raw materials. There is some dependence on China that we are calibrating very closely, and trying to have more suppliers in India. The PLI scheme will help to develop a more self-reliant supply chain.
