Lupin expects to launch 20-25 products every year in the US
Drug major Lupin Ltd expects to launch 20-25 products in the American market every year in the next couple of years.
By PTI | Updated:
NEW DELHI: Drug major Lupin Ltd, the fifth largest generics player in the US, expects to launch 20-25 products in the American market every year in the next couple of years.
The Mumbai-based firm, which is aiming to further consolidate its business in the world's most lucrative drug market, is also looking to acquire brands in the US market as it aims to sustain growth levels of up to 25 per cent in the current fiscal.
"Going forward, we expect to launch 20-25 products every year for the next couple of years in the US market," Lupin Ltd Managing Director Kamal K Sharma told PTI.
The company had earlier said that it would like to sustain 25 per cent annual growth rate in the US market in the current financial year.
During the 2012-13 financial year, Lupin filed 21 abbreviated new drug applications (ANDAs) with the US Food and Drug Administration ( USFDA) and received 14 approvals.
The company's cumulative ANDA filings with the USFDA as of March 31, 2013 stood at 176 with the company having received 78 approvals to date.
Lupin, which reported revenues of USD 693 million in the US market for FY 2012-13, is also in talks with three companies in the US to acquire brands.
"Hopefully, we will be able to do it this year. Still evaluating three companies... Caveat is that we don't acquire just for the sake of acquiring but like to make it a commercial success. This has been our policy. At least, one or two brands would be acquired if not more by the end of this year," Sharma said.
He added that the company's primary focus is to acquire brands in the paediatrics, cardiovascular and dermatology therapeutic areas.
The company, which already has 12 oral contraceptive product approvals in the US, also caters to various therapeutic segments including antibiotics in the American market.
According to IMS Health March, 2013 sales data, Lupin is now the market leader in 24 products out of the 46 products marketed in the US generics market.
It is amongst the top three by market share in 37 of these products.
The Mumbai-based firm, which is aiming to further consolidate its business in the world's most lucrative drug market, is also looking to acquire brands in the US market as it aims to sustain growth levels of up to 25 per cent in the current fiscal.
"Going forward, we expect to launch 20-25 products every year for the next couple of years in the US market," Lupin Ltd Managing Director Kamal K Sharma told PTI.
The company had earlier said that it would like to sustain 25 per cent annual growth rate in the US market in the current financial year.
During the 2012-13 financial year, Lupin filed 21 abbreviated new drug applications (ANDAs) with the US Food and Drug Administration ( USFDA) and received 14 approvals.
The company's cumulative ANDA filings with the USFDA as of March 31, 2013 stood at 176 with the company having received 78 approvals to date.
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Lupin, which reported revenues of USD 693 million in the US market for FY 2012-13, is also in talks with three companies in the US to acquire brands.
"Hopefully, we will be able to do it this year. Still evaluating three companies... Caveat is that we don't acquire just for the sake of acquiring but like to make it a commercial success. This has been our policy. At least, one or two brands would be acquired if not more by the end of this year," Sharma said.
He added that the company's primary focus is to acquire brands in the paediatrics, cardiovascular and dermatology therapeutic areas.
The company, which already has 12 oral contraceptive product approvals in the US, also caters to various therapeutic segments including antibiotics in the American market.
ADVERTISEMENT
According to IMS Health March, 2013 sales data, Lupin is now the market leader in 24 products out of the 46 products marketed in the US generics market.
It is amongst the top three by market share in 37 of these products.
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