Lupin, a Rs.5,700 crore plus pharma major, has posted impressive performance during the year ended March 2011 on account of higher sales in advanced markets. Its consolidated net profit has taken a quantum jump of 26.5 per cent to Rs.862.55 crore from Rs.681.63 crore in the previous year. Its EBDITA moved up by 20.3 per cent to Rs.1200 crore from Rs.998 crore. Its consolidated net sales also increased by 19.5 per cent to Rs.5, 707 crore from Rs.4,774 crore. The company declared equity dividend of 150 per cent on Rs.2 each equity share for the year 2010-11.
The company formulation sales to advanced markets like US, Europe and Japan, increased by 22 per cent to Rs.2823 crore from Rs.2323 crore in the previous year. This contribute 49 per cent to its total net sales. US and Europe formulation sales contributed 38 per cent to consolidated revenues for FY'11 and its sales increased to Rs.2,202 crore from Rs.1,789 crore, a growth of 23 per cent in this region. In US, the brands business contributed 30 per cent to the total US sales and generic business contributed 70 per cent. The European business grew 30 per cent in 2010-11 and it launched clarithromycin XL in France.
Lupin's subsidiary in Japan Kyowa Pharmaceutical reported sales growth of 16 per cent to Rs.621 crore from Rs.534 crore and contributed 11 per cent to Lupin's consolidated revenues. The company's business in South Africa improved by 38 per cent to Rs.183 crore.
Dr Kamal K Sharma, managing director said, “Lupin has had a strong year where we saw all our business clock in double-digit growth with strong numbers being delivered by US & Europe, India, Japan, South Africa and also our API business. I am pleased to not that Lupin remains the fastest growing top 10 generics player in the US, India, Japan and South Africa.”
“The investments and achievements that we have made in 2010-11 span across entry into new therapy segments, product launches, landmark license agreements, product approvals and patent settlements, filing differentiated generic products and continued investments in manufacturing infrastructure and R&D.” he added.
The company's domestic business contributed 27 per cent to its overall consolidated sales. It formulation sales grew by 17 per cent to Rs.1551 crore from Rs.1330 crore in the previous year. Its APIs sales contributed 15 per cent to net sales and touched to Rs.859 crore.
Lupin settled all ongoing litigations with Sunovion on Lunesta, with Forest on Memantine and Warner Chilcott on Loestrin and Femcon.
Lupin's revenue expenditure on R&D increased by 35.4 per cent to Rs.483.4 crore from Rs.357 crore. This worked out to 8.5 per cent to net sales as compared to 7.5 per cent in the previous year. The company filed 21 ANDAs during 2010-11 and received 8 approvals. Its cumulative filings reached to 148 ANDAs, of which 48 stand approved by US FDA. In Europe its filed 33 MAA's with European Authorities. Lupin extend its license arrangement with Salix Pharmaceuticals for its proprietary bioadhesive drug delivery technology for Rifaximin.