Lupin eyes $300 mn revenues from Japan in next 2 yrs
Drug maker Lupin is eyeing a jump of over 80 percent in its revenues to USD 300 million (about Rs 1,557 crore) from the Japanese market in the next two years on the back of its enhanced presence in the country.
New Delhi: Drug maker Lupin is eyeing a jump of over 80 percent in its revenues to USD 300 million (about Rs 1,557 crore) from the Japanese market in the next two years on the back of its enhanced presence in the country.
The company, which is present in Japan through its subsidiary Kyowa Pharmaceutical Industry, has strengthened its presence with the acquisition of I'rom Pharmaceuticals for an undisclosed amount.
"Besides US and India, Japan is a priority market for Lupin, and between the two companies in Japan (Kyowa and I'rom), Lupin looks to clock in revenues of about USD 300 million over the next two years from the present about USD 165 million," Lupin President (Finance & Planning) and CFO S Ramesh told media.
Last month, Kyowa had entered into an agreement with I'rom Holdings Co Ltd (IH), an integrated healthcare provider to acquire up to 100 percent of outstanding shares of its subsidiary, I'rom Pharmaceuticals (IP). Lupin had earlier bought Kyowa in 2007.
The Mumbai-headquartered firm has been strong in the oral segment in Japan and with the new acquisition it would also get access into the injectable space.
The company, through its enhanced presence is aiming to become one of the top five generic pharmaceutical companies in Japan in the next three years. Currently, Lupin is the ninth largest generic player in the Japanese Market.
Apart from Japan, the company is also eyeing to enter other markets, including Latin America and Europe.
"In terms of markets of interest we are currently evaluating entries into certain markets in Latin America, Central and Eastern Europe," Ramesh said.