Lupin expects sales to grow by around 25% in next 3 yrs
New Delhi: Drug maker Lupin expects its sales to continue growing at around 25 percent globally for the next three years with contributions coming from all the markets where it is present.
"If the past is prescriptive of the future, then we should continue to grow at the current growth levels -- clock in a minimum growth of 22-25 percent on all counts globally for the next three years," Lupin President (Finance & Planning) and CFO S Ramesh said.
When asked which markets would drive the growth, he said: "The good thing about Lupin is that in fact, our growth has been secular. It has not been restricted to America or India, it has been across various markets."
The Mumbai-based firm which is yet to announce its financial results for the 2012-13 fiscal had posted net sales of Rs 6,959.7 crore for the 2011-12 fiscal.
Commenting on the US market, Ramesh said Lupin is looking to sustain growth levels of up to 25 percent in the current fiscal.
"We believe that going forward, one could look at us sustaining growth levels in the US at the current levels, a minimum growth of 23 to 25 percent at the current levels for FY 2014," he added.
The company had posted net sales of Rs 2,530.3 crore for the 2011-12 fiscal in the US market.
The company, which already has 11 approvals in the oral contraceptive space in the US, recently received a favourable ruling form a US court paving the way for it to introduce a generic version of Bayer AG's Yaz tablets in American market.
Commenting on the India business, Ramesh it is likely to grow by 20 percent in the next three years.
"Our growth rate for the next two to three years should be between 18-20 percent. So, it is business as usual in India," he added.
He added that the company would continue to add new therapies to its portfolio, bolster it with new drugs, in-licensing agreements and strategic alliances with like minded peers without specifying details.
Lupin's India region sales stood at Rs 1,905.9 crore in 2011-12.