Lupin Limited is setting up a new manufacturing plant for Lovastatin, a cholesterol lowering active pharmaceutical ingredient (API), which is aimed at consolidating its presence in the lifestyle drug segment. The new plant is being built to meet US FDA standards.
The plant, which has an initial capacity of above 12 metric tonnes per annum, will be set up at the company's facilities in Tarapur, Maharashtra. Lupin is expecting to invest Rs. 10 crore in this plant.
Lupin has already entered into a long-term contract with a global pharmaceutical player for the supply of Lovastatin API, even as the company begins implementing the project. The total global market size for lovastatin and simvastatin (derived from lovastatin) is above USD 6 billion. With its more than 12 metric tonne capacity, Lupin would be among the world's top five manufacturers of Lovastatin API.
The decision to set up the Lovastatin plant, soon after the commissioning of the multi-prils plant, is in continuation of Lupin's strategy to build up global scale API capacities in the lifestyle drugs segment.
The Company recently commissioned a plant for manufacturing Prils, a class of cardiovascular drugs, at its facilities in Mandideep, Madhya Pradesh. The plant will supply Prils to advanced markets of the US and Europe.
Lupin is already a global force in anti-TB and cephalosporins APIs. The idea of these expansions is to emerge as a similar force in the lifestyle drugs segment.