Blockbuster: Lupin

Sustained traction in formulation exports to the key markets of US and Japan, a strong footing in the domestic market, and an attractive pipeline of products has helped Lupin chart a great success story. Though it started out as domestic formulations and API producer, it has over the years transformed itself into a transnational pharma company with a strong presence in US, Japan and other markets as well as across the pharma value chain.

Unlike some of its peers, Lupin gained entry into newer markets (in the EU, Australia and South Africa) through small-size acquisitions. This helped it keep its debt in check and accorded a better control over operations, helping it become one of the fastest-growing companies both domestically and internationally.

The company now has over 150 filings, of which 51 stand approved by the US FDA. It has over 29 ANDA filings in the high-margin oral contraceptives space, its next growth driver.

In FY 2011, the company's net sales grew by 20 per cent to Rs 5,706 crore, while net profits grew at over 27 per cent to Rs 862 crore. Formulations business made up about 85 per cent of its total revenues, with the rest coming from APIs. The management expects revenue to grow at 20 per cent in the current year as well.

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