Lupin, a Rs 4,700 crore pharma giant from Mumbai, has posted strong growth in profits during the first quarter ended June 2010 on account of significant growth in formulations sales in US, Europe and Japan. The consolidated net profit increased by 40.1 per cent to Rs 196.30 crore from Rs 140.11 crore in the corresponding period of last year. The EBDITA also moved up by 32.5 per cent to Rs 285.21 crore from Rs 215.24 crore. The earnings per share improved to Rs 22.06 as against Rs 16.91 crore in the last period.
Its consolidated net sales increased by 20.8 per cent to Rs 1,312 crore from Rs 1,086 crore. Lupin's revenues in India increased by 17.1 per cent to Rs 472.35 crore from Rs 403.50 crore and that in the international market increased by 23.7 per cent to Rs 861.93 crore from RS 697.04 crore. Its formulations sales in US and Europe grew by 40 per cent to Rs 496.60 crore from Rs 355.10 crore in the similar last period. The brand business in the USA increased by 51 per cent and generics business grew by 45 per cent. Lupin's subsidiary, Kyowa Pharmaceuticals continued to post strong growth in the Japanese market clocking net sales of Rs 129.9 crore and contributed 10 per cent to Lupin's consolidated revenues. The sales in South Africa went up by 33 per cent to Rs 39.90 crore. APIs sales touched to Rs 187.60 crore as against RS 175.20 crore, a growth of 7 per cent.
Dr Kamal K Sharma, managing director, said, "In keeping with the growth momentum generated over the last 17 quarters, we continue to perform strongly across our business segments and our markets. The success of recent launches and more importantly growth in market shares across our marketed products resulted in strong business performance. It gives me immense pleasure to announce that Lupin has emerged as the 5th largest and the fastest growing top 10 generic company in US (by prescriptions)."
Revenue expenditure on R&D amounts to Rs 103.80 crore and its worked out to 7.9 per cent of its net sales. Lupin's cumulative ANDA filings with the US FDA rose to 130 with the company having received 45 approvals to date. Cumulative filings with the European regulatory authorities stands at 65 with the company having received 33 approvals to date.
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