Lupin to launch 5-6 products in US market in near future
Lupin expects to launch 5-6 products in the near future out of a total of over 100 products, which are awaiting approvals from the US health regulator, a top company official said Thursday.
New Delhi: Drug firm Lupin expects to launch 5-6 products in the near future out of a total of over 100 products, which are awaiting approvals from the US health regulator, a top company official said Thursday.
"Lupin has over 100 products pending approval with the Food and Drug Administration (USFDA)," Lupin Ltd President (Finance & Planning) and CFO S Ramesh told PTI.
He further said the company would launch "5-6 products as and when it get approvals in the near term".
In the last one month, Lupin has received approvals to market three generic products in the US market.
"...These approvals have opened up a USD 460 million market for Lupin within a month and that too with limited or no competition," Ramesh said.
The Mumbai-based firm Thursday posted consolidated net sales of Rs 2,465.9 crore for the third quarter ended December 31, 2012.
During the period under review, the company's formulation sales in the US and Europe grew by 60 percent to Rs 1,082.9 crore.
"The growth witnessed in Lupin's US business has happened without exclusive opportunities kicking in, so you are bound to witness more rapid growth and traction within our US business," Ramesh added.
The company, which said it is the market leader in 22 products out of the 43 products marketed in the US generics market, launched five new products in the US during the third quarter.