About
Lupin
Dr. Desh Bandhu Gupta founded Lupin in 1968, driven by the vision of accessible quality healthcare for all. His legacy continues to be the cornerstone of our culture, fostering innovation, compassion, and meaningful impact. It defines our purpose of catalyzing treatments that transform hope into healing.
Today, Lupin is a global pharmaceutical leader with strong presence across North America, EMEA, LATAM, APAC, and India, and products distributed in over 100 markets. With a portfolio spanning generics, complex generics, specialty medicines, and biosimilars, we are committed to improving lives and expanding access to quality healthcare worldwide.
15
Manufacturing
Sites
24,000+
Lupinytts
7
Research
Centers
We hold the #3 position in the U.S. in terms of total prescriptions dispensed and our U.S. business contributed 36% to our revenues in FY25. Our India business contributed 34% to total revenues in FY25, ranking eighth in the Indian Pharmaceutical Market.
We hold strong market leadership across key therapeutic areas, including cardiovascular, respiratory, diabetes, gastrointestinal, and women’s health. Globally, Lupin is also recognized as the leading provider of anti-TB medicines, reinforcing our commitment to addressing critical public health needs.
We continue to expand our impact through high-growth adjacencies — Lupin Diagnostics, Lupin Digital Health, LupinLife Consumer Healthcare focusing on the OTC segment, Atharv Ability, and Lupin Manufacturing Solutions. In FY25, Lupin Diagnostics served over 150,000 patients every month. Lupin Digital Health, our digital therapeutics division, has been propelling innovation in cardiac care. Through our neurorehabilitation centre, Atharv Ability, we delivered more than 40,000 rehabilitation sessions. On the CDMO front, Lupin Manufacturing Solutions is scaling global partnerships and advancing Lupin’s API and smallmolecule manufacturing capabilities.
The Lupin Foundation continues to uplift over 2.02 Mn beneficiaries across 5,400+ villages through sustainable livelihood and health initiatives.
Lupin remains committed to sustainability excellence. We received an “A-” leadership rating from CDP for our outstanding performance in climate change and water security. Additionally, Lupin was included in the S&P Global Sustainability Yearbook 2025, for the second consecutive year.
At Lupin, we strive to create meaningful health outcomes while unlocking long-term value for all stakeholders. With purpose at our core and innovation as our compass, we are building a healthier future, every day for millions of patients globally.
We catalyze treatments that transform hope into healing
Our purpose is rooted in three core commitments.
Relief from
disease
Innovation to unlock access at scale
Solutions for underserved communities
When you are a shareholder in Lupin, you join a purpose-driven journey of over five decades to improve lives — one patient at a time — while building sustainable, long-term value together. As we move forward, our purpose will be the transformative force to drive meaningful change. We believe that together, we are building a company that delivers lasting value to all its stakeholders.
Passion for
Excellence
We relentlessly pursue excellence through innovation and continuous improvement in all our projects, processes, and products.
To set our standards, we benchmark with the best in the world.
Entrepreneurial
Spirit
We empower our employees to generate new ideas, explore avenues, and offer solutions that add exceptional value.
We encourage them to build ownership in all endeavours by assuming responsibility with passion and conviction.
Customer
Focus
We strive to understand and meet customer needs in a professional and responsive manner.
We focus on building long-term partnerships for mutual benefit.
Integrity
We conduct ourselves with uncompromising integrity and honesty with the highest standards of ethical behavior and transparency.
Everything we do must stand public scrutiny.
Teamwork
We align the efforts and energies of our people across all levels and geographies to deliver outstanding results to our stakeholders.
We encourage diverse opinions and work together in a coordinated and mutually supportive way.
Respect and
Care
We are compassionate and sensitive toward all our stakeholders and treat them the way we would expect to be treated.
We provide equal and fair opportunities for employment, learning, and career development.
Manufacturing
India: Chhatrapati Sambhajinagar (CSN), Ankleshwar,
Dabhasa, Goa, Pithampur, Jammu, Mandideep,
Nagpur, Pune, Sikkim, Tarapur, and Vizag
U.S.: New Jersey; LATAM: Mexico and Brazil
Research
India: Pune and CSN
U.S.: New Jersey and Florida
LATAM: Mexico and Brazil
Europe: Netherlands
Transforming
Hope into Healing
- Chairperson's Letter
Dear Shareholders,
There are moments in a company’s journey that call not only for reflection, but also for renewed clarity of purpose. FY25 was one such moment for Lupin. It was not merely a year of robust performance; it was a year of reaffirmation.
For over five decades, Lupin has resolutely transformed lives, with a deep sense of purpose. Our founder, Dr. Desh Bandhu Gupta, firmly believed that no one should go without the quality care they deserve. This belief was at the core of the principles on which he established Lupin. It guided our vision, shaped our values, and created a legacy that continues to inspire us every day. On his birth anniversary this year, we distilled these core principles into a single, resonant purpose: "We catalyze treatments that transform hope into healing." This statement is a reaffirmation of who we are, and what we stand for — our north star, guiding us every step of the way.
A Purpose that Anchors Performance
Our purpose anchors our strategy and spirit. We innovate not just to lead, but to serve. We expand not for scale alone, but for reach and relevance. We operate not with entitlement, but with empathy. FY25 stood as a reflection of this ethos, translating into value for all. We recorded consolidated sales of INR 221,921 Mn, growing 12.9%, and expanded our EBITDA margin to 24.7%.
Sustained Growth and Global Momentum
Our growth this year, from our performance in key markets to advancements in complex generics, has been exceptional. We scaled our operations, strengthened compliance, deepened our presence in chronic care, and launched transformative digital initiatives. What I am most proud of is not just our financial outperformance, but the way we did it — with heart, integrity, and courage.
Our U.S. business grew double-digits with key contributions from new launches and complex inhalation products. Our India Region Formulations business continued to outperform the market, driven by strong performance across chronic therapies. Others like Canada, U.K., Germany, and Mexico were standout contributors, showcasing the strength and diversity of our global footprint. In August 2024, our market capitalization crossed the INR 100,000 crore mark — a reflection of investor confidence.
Scaling Innovation
We continued to scale the value chain with important new products, launching 49 products, filing 41 more, and ramping up our pipeline of complex injectables, peptides, and biosimilars. This delivery exemplifies how strategy and science converge at Lupin. We continued to advance our leadership in respiratory care through the year, and our inorganic growth, with the acquisition of Huminsulin® from Eli Lilly and other strategic initiatives, reinforced our intent to help patients lead healthier lives.
Our new ventures in diagnostics, digital, neuro-rehabilitation, OTC, and trade generics are purpose-driven extensions of our commitment to holistic healthcare.
Enduring Purpose in a Changing World
In a world of economic, geopolitical, and environmental uncertainties, purpose helps build constancy. For Lupin, that purpose is clear. It is what allows us to serve with confidence, adapt with resilience, and grow responsibly.
What started as DBG’s dream is now a shared movement of over 24,000 Lupinytts who believe that science must heal, reach, and uplift.
To our shareholders, thank you for your enduring trust. To every Lupinytt, thank you for bringing our purpose to life. As we move forward, we do so with humility, with resolve, and with unwavering commitment to catalyze treatments that transform hope into healing.
Warm Regards,
Manju Deshbandhu Gupta
Chairperson
Driven by Purpose
- CEO and MD's Letter
Dear Shareholders,
Behind every prescription we serve, every facility we operate, and every product we offer, lies a deeper purpose — to bridge the distance between a patient’s health and the medicines they need. For over five decades, this conviction has been at the heart of Lupin, enabling us to make a difference to patients and their families. This year, on the birth anniversary of our founder, Dr. Desh Bandhu Gupta, we brought to culmination a year-long effort to express this commitment, our renewed purpose – "We catalyze treatments that transform hope into healing."
For us, this is a statement filled with intention. At Lupin, we are not just manufacturers or marketers of medicines. Our Lupinytts are the catalysts, the agents of change, committed to accelerating, enabling and sparking positive change to the health of patients. We are blessed to have the opportunity to be the enablers of patient well-being, driving the transformation, overcoming barriers and improving access. This purpose guides every decision, every breakthrough, and every effort of our 24,000+ Lupinytts.
FY25 has been a year when this purpose translated into performance. We are proud to deliver a stellar year, marked by strong financial performance, getting deeper into our strategic priorities, and meaningful expansion into adjacent healthcare spaces. Importantly, it was a year in which we reaffirmed our role — not only in advancing health outcomes for patients, but also in delivering long-term, sustainable value.
FY25 was also a pivot; from a well-executed turnaround to a level of sustained momentum, backed by solid strategy. We closed the year with consolidated sales of INR 221,921 million, marking a 12.9% growth year-on-year. Our EBITDA margins improved to 24.7%, up from 20.0% in FY24, driven by revenue growth, efficiencies, smarter operations, and sharper execution.
Reaching More Lives, Meaningfully
Our treatments play a critical role in helping patients access medicines for chronic and acute conditions. In the backdrop of global economic shifts, evolving tariff regimes, and ongoing geopolitical uncertainty, our resilience continues to shine through — grounded in strategic clarity, operational agility, and a deep-rooted commitment to execution.
Our U.S. business grew double digits, with key contributions from products like Mirabegron, Albuterol, and Tiotropium. The business delivered consistent growth quarter after quarter, closing FY25 on a strong note with revenues reaching USD 245 million, the strongest quarterly performance since FY17. This was driven by strong new product launches, maximizing the existing portfolio, improved supply reliability, and robust channel execution. During the year, the U.S. contributed 36% of our global revenues, a testament to the trust we have earned with customers, physicians, regulators, and patients.
In India, our double-digit growth reflects our unwavering commitment to making essential therapies accessible to millions, focusing on chronic ailments, while still supporting areas of high national priority. Despite headwinds in the respiratory segment, our India formulations business delivered 8.4% growth, outperforming the market. Our India business is poised for strong double-digit growth, underpinned by strong field force momentum, consistent brand performance, and deeper market penetration across key therapeutic areas.
Across other regions, we saw growing relevance — not just in revenues, but in lives touched. In Canada, we recorded 35.7% growth, bolstered by our focus on specialty products that make a difference in everyday life, including treatments like Zaxine® for hepatic encephalopathy, Relistor® for opioid-induced constipation, and Intrarosa® for women’s health. Our U.K. business surged by 57.5%, and Germany grew over 17%, led by products like Luforbec®, and Namuscla®, a product that addresses a much-needed gap in nondystrophic myotonia treatment.
These results speak to more than just quarterly wins — they reflect the durability of our business foundation and our ability to adapt, compete, and lead — even in the most turbulent macroeconomic landscapes.
Climbing the Value Chain
Our focus on moving up the value chain is driving this sustained momentum. FY25 saw 41 regulatory filings and 49 new product launches. Our pipeline is rich and future-ready with high-potential opportunities in injectables, inhalation, complex generics, and biosimilars across multiple markets. Tolvaptan, launched in early FY26 with 180-day exclusivity, underscores the edge our R&D engine brings. Our research teams are working on respiratory platforms like Ellipta® Multi-Dose DPIs and Respimat® Soft-MistTM Inhalers, as well as differentiated 505(b)(2) and specialty products — high-barrier areas that promise meaningful clinical impact and commercial potential.
In FY25, we continued to pursue inorganic growth with strategic intent. The acquisition of Huminsulin® from Eli Lilly for India significantly strengthens our diabetes portfolio — reinforcing our long-term commitment to chronic disease care and making essential treatments more affordable.
We remain unwavering in our pursuit of operational excellence. Our integrated capabilities helped us reduce costs, improve reliability, and respond nimbly to market shifts.
FY25 saw us achieve all-time-high on-time in-full levels, and we delivered significant savings through efficient freight operations, better yields, and footprint optimization.
During the year, we continued to strengthen our position on the quality and compliance front. For us, quality and compliance and GMP are a reflection of our organizational character. We uphold the highest standards of quality and supply resilience across our global manufacturing network. This focus extends beyond our own facilities to our suppliers and contract manufacturing partners. Whether it’s regulatory compliance, product consistency, or patient safety, our commitment to quality is foundational to building long-term trust and sustaining global growth.
Advancing Our Business Through Digitalization
This year, we enhanced our digital efforts and initiated many structural shifts that will have a direct business impact in the future. This data-first approach has begun bearing fruit. We are in the process of introducing AI-driven enhancements across the value chain, right from research and manufacturing to quality and field force productivity. We believe that new initiatives towards automation, including robotics and continuous flow operations, will be a pivot towards improving our efficiency and agility. Our current generative AI pilots — across commercial in India, manufacturing operations, and GMP processes, have shown promising results. In FY26, we plan to scale them across business units globally.
Adjacencies With Purpose
In addition to strong growth in our core, there was meaningful growth in our adjacent businesses. Our diagnostics business in India is growing at a record pace, up 44.0% from FY24. All our diagnostic labs are NABL-accredited, and our ambition is to be amongst the leading diagnostics players in India.
We have also spun our Trade Generics into an independent subsidiary, Lupin Life Sciences, to sharpen focus and unlock value in this fast-growing space. Our API-CDMO business, now housed under Lupin Manufacturing Solutions, is set to scale its third-party API and CDMO services. These adjacencies enable us to leverage our strength and broaden our impact across the healthcare value chain.
The Road Ahead
As we step into FY26, we do so with renewed energy and purpose. We are sharply focused on advancing chronic care medicines, anchored by a robust pipeline that includes first-to-market generics, complex generics, and biosimilars that address some of the most pressing global health needs. In India, we are targeting strong doubledigit growth, supported by strategic acquisitions, deeper market penetration, and therapeutic leadership to climb the ranks among peers. In the rest of the world, both organic expansion and inorganic moves will accelerate our presence and unlock new growth levers.
We are driving operational excellence and efficiencies across the board, positioning ourselves for sustainable growth. At the same time, we continue to embed innovation across the enterprise, from novel specialty products, to scaling AI to drive smarter decision-making, and investing in advanced technologies for more agile operations.
Sustainability is embedded across our work — from responsible sourcing and greener operations to water stewardship initiatives and community impact. We are proud to be among the top 10% pharmaceutical companies globally based on our sustainability score.
We expect to sustain our growth momentum by focusing on flawless execution of our strategic vision across geographies, with consistent revenue growth, enhanced profits, and value creation for all our stakeholders.
More importantly, we are poised to bring meaningful treatments to life — faster, smarter, and with empathy. At the heart of everything we do is the belief that our treatments heal and make a difference. Lupin’s enduring role is to catalyze that transformation, deliver with purpose, impact and integrity — for patients, for communities, and for you, our shareholders.
We thank you for your continued confidence.
Warm Regards,
Vinita Gupta
Chief Executive Officer
Nilesh Gupta
Managing Director
A Year of Excellence
- CFO's Letter
Dear Shareholders,
FY25 was a year of purposeful acceleration, a year where disciplined execution, strategic clarity, and bold investments came together to deliver impressive outcomes. We sustained the strong momentum of FY24, resulting in remarkable achievements in revenue growth, margin expansion, and net profits. Over the past few years, our transition to more complex products has helped in sustaining the top line buoyancy. Simultaneously, our ongoing emphasis on optimizing cost, prudent technology adoption, and fostering a culture of accountability and responsiveness, have continued to strengthen our profitability.
The advancement of our complex generics engine, notably the respiratory portfolio, plays a pivotal role in enhancing our global competitiveness. The strategic investments on this front, spread over time, have now matured into a powerful growth driver, contributing to over 35% of our U.S. portfolio.
Our initiatives to augment operational resilience and enforce cost discipline have yielded significant returns. We near doubled our profits during the year on the back of a four-fold growth in the previous year, thanks to a superior product mix, thrust on margin expansion, and effective balance sheet management, demonstrating our ability to scale profitably.
Strengthening Global Presence
Our commitment and strategic focus on enhancing the complex generics portfolio continued to be a driving force in FY25. During the year, North America grew exceptionally well at INR 83,950 Mn, a 15.9% rise over FY24 at INR 72,462 Mn. U.S. sales now stand at USD 925 Mn. Key products such as Mirabegron, Tiotropium, and Albuterol continue to do well in the market.
Our India Region Formulations business continued to outperform the market, driven by strong performance across top four therapies — cardiac, respiratory, anti-diabetic, and gastrointestinal, which now constitute over 70% of our formulations portfolio in India.
The business also expanded its diabetes portfolio through the strategic acquisitions of Gibtulio®, Ajaduo®, and Huminsulin®. Our Lupin Diagnostic business experienced an impressive growth of 44%, albeit on a small base. Overall, the India business (excluding API business) increased by 13.8%, reaching INR 75,774 Mn from INR 66,564 Mn in FY24.
Sales in Other Developed Markets for FY25 amounted to INR 25,072 Mn, representing an increase of 23.4% compared to INR 20,324 Mn in FY24. This segment accounted for 11% of Lupin’s global sales. The growth was primarily driven by significant growth in the U.K. and Germany.
Emerging Markets contributed sales of INR 25,354 Mn in FY25, reflecting an uplift of 6.8% compared to INR 23,745 Mn in FY24. These sales represent 11% of Lupin’s overall global revenues.
Sharpening Our Cost Optimization Levers
Optimization of costs has continued to remain a core priority for us. Our Technical Operations Group continues to focus on technological leadership, renewable energy sourcing, and target costing for products, and has contributed significantly to enable gross margins to improve to 69% in FY25 from 66% in FY24.
Our sourcing and procurement functions continue to pursue several levers for cost optimization, straddling across alternative vendor development to value engineering. Our Product Development Labs along with our R&D teams collaborate closely to develop alternate routes to synthesis and other value engineering measures to challenge existing cost frontiers.
Likewise, the emphasis on productivity, realignment of product portfolios, digital roadmaps, and several such initiatives, have enabled cost optimization in our factories, resulting in reduced costs for individual products.
The Integrated Business Planning approach, along with the Kinaxis supply chain platform, has helped our supply chain to be more efficient and effective. The increased adoption of green energy and process digitization has resulted in a cumulative reduction in utility and inventory costs as a percentage of sales. These integrated strategies have contributed to an improvement of over 10% in manufacturing margins over the last two years.
Innovation
In FY25, we allocated INR 17,672 Mn to R&D, representing 8% of sales, an increase from INR 15,265 Mn invested in FY24. The realignment of spends to more complex products has paid off handsomely, resulting in the consistent launch of new products: Mirabegron, Gx Oracea®, Prednisolone, and Gx Balcoltra® in FY25. The scheduled rollout of Tolvaptan in Q1 FY26 reflects our adept execution and preparedness.
We remain committed to advancing our proprietary long-acting injectable technology platform in Nanomi, which significantly enhances our pipeline capabilities. Additionally, we have made significant progress in developing our inhalation pipeline and ensuring our advancement in green propellants by integrating LGWP (Low Global Warming Potential) propellants for the IRF region.
Capital Allocation Strategy
Our capital allocation is predicated on fostering sustainable growth and enhancing shareholder value. We have invested INR 22,503 Mn in strategic acquisitions, capital expenditures, and dividend payouts to shareholders during the year. We will continue to work on strategic investments, including inorganic initiatives, to expand our market presence and enhance our product offerings.
| CAPEX | INR 9,402 Mn |
| Acquisitions | INR 9,453 Mn |
| Dividend payout | INR 3,648 Mn |
| Capital invested for climate action and environmental benefits | INR 528 Mn |
| Spend on employee benefits | INR 39,642 Mn |
| CSR spends | INR 247 Mn |
Our capital allocation framework is governed by clear policies and profitability benchmarks that evaluate both organic and inorganic initiatives. By working on appropriate levers in our balance sheet, we optimized both working capital and borrowing needs. In FY25, our capital work in progress dropped significantly to INR 5,166 Mn in FY25 from INR 7,725 Mn in FY24, the lowest in many years. We are effectively debt free with equivalent cash and treasury holdings. With a zero net debt-to-equity ratio reflecting financial strength and efficient asset utilization, we are well positioned to pursue strategic M&A and other investment opportunities.
Tax Transparency and Governance
Lupin’s tax policy is established on the principles of transparency, compliance, and accountability. Lupin’s Tax Transparency Report, introduced in FY23, details the guiding principles with regard to tax compliance and practices, integration with our core values, and our engagement model with external stakeholders (such as tax authorities and tax advocacy experts). Additionally, it includes detailed information on our effective tax rates, schedule, and the basis of preparation, along with a global entity-wise and jurisdictional perspective.
We digitized tax workflows, accelerating our response time to regulatory queries and enabling better preparedness during acquisitions and entity restructurings. Our tax governance is a testament to our broader corporate values of responsible growth, ethical conduct, and long-term stakeholder trust.
Commitment Towards Sustainability
Lupin’s sustainability ethos is anchored in responsible resource utilization, inclusive practices, and ESG governance. In FY25, we invested INR 528 Mn in renewable and environmental initiatives, reducing our Scope 1 and 2 emissions by 26% over the FY23 baseline. Additionally, water recycling and conservation initiatives resulted in 44% of withdrawn water being recycled in FY25. Our efforts have been rewarded with various recognitions. We were awarded the “Silver Medal” by EcoVadis for outstanding sustainability management practices, placing us amongst the top 15% of global companies. We were also included in the top 10% S&P Global CSA Score, a reference to companies that rank within the top 10% of their industry, based on their Corporate Sustainability Assessment Score for 2024. We will continue to integrate ESG principles across our value chain to drive long-term business resilience.
Empowering Lupinytts
We take great pride in the fact that our people are the force behind our success. We foster a workplace that is inclusive, future-ready, and empowering. Learning initiatives such as ASCENT (our PhD program), L.A.M.P. (our leadership acceleration program), and GROW (internal career rotation program) reflect our long-term investment in human capital.
With a robust talent management and succession planning framework, we continue to nurture a strong leadership pipeline while enhancing employee experience and engagement across levels.
Our Social Ownership
At Lupin, our purpose extends beyond business. Through the Lupin Foundation, we impact over 5,400 villages — improving healthcare, livelihoods, education, and hygiene. Our Patient Support Programs reached 1.5 Mn people, especially in chronic care.
In FY25, we revamped our supplier governance, encompassing over 370 vendors through responsible sourcing frameworks that embed sustainability and risk mitigation. We regard our supply partners as integral collaborators in our mission to provide highquality, dependable care.
Driving Enterprise Value Through Digital and Innovation
FY25 was also a year of digital acceleration. Enhanced technology utilization is at the heart of all our efficiency initiatives across the value chain as well as our support functions. By continuing to leverage automation and real-time data analytics, we have streamlined several parts of our operations, minimized human error, and optimized inventory management. During the year, we expanded our digital supply chain to newer areas, enhancing operational agility and visibility. Further, GenAI use cases were successfully piloted across sales, quality, and manufacturing. With a strong emphasis on ethical AI and data governance, we are now scaling high-impact applications across the enterprise.
Whilst we expand our digital footprint, we are also conscious of the cyber and data sensitivity risks associated with information technology. We have spent considerable time and effort to assess the vulnerability of our systems and have taken proactive measures to mitigate exposures and be on top of potential threats to the same. Commitment to IT risk mitigation is demonstrated at the highest levels of the organization, evidenced by board-level awareness and regular monitoring of the comprehensive IT risk management framework.
Eye on the Future
FY26 will be another pivotal year in Lupin’s journey. As we consolidate the progress of FY24 and FY25, marked by a stronger complex generics share, high-performing new launches, R&D execution, and optimized sourcing and operations — we will continue to leverage our learnings and maintain the momentum.
We closed FY25 with a notable 21.6% Return on Capital Employed, moving up from 14.8% in FY24, demonstrating strong financial health and business steadiness. Our people, technology, and processes are all geared to adapt to evolving market dynamics with resilience and agility.
At Lupin, everything we do is rooted in the singular belief that every treatment we deliver presents an opportunity to transform hope into healing. FY25 was a powerful validation of this belief. We move ahead with clarity, confidence, and an unwavering commitment to our purpose and to you, our shareholders.
Warm Regards,
Ramesh Swaminathan
Executive Director, Global CFO, Head of IT and API Plus SBU
At Lupin, our purpose is the driving force that
anchors us to our strategic initiatives.
Our Founder, Dr. Desh Bandhu Gupta’s conviction in the power of science to transform healthcare and strengthen communities led to the establishment of Lupin in 1968. DBG as he was lovingly called, deployed science to produce life-saving drugs for tuberculosis, the highest social priority at that time. This early commitment to serving patients has shaped us.
Today, our focus therapeutic areas include cardiovascular health, diabetes, respiratory, gastrointestinal disorders, women’s health and tuberculosis. We are not just providers of medicines. Patient centricity is at the heart of all we do. With our patient support programs, we are proud to serve over 1,420,000 patients in over 100 countries. We actively engage in addressing all stages of the healthcare cycle, from prevention and diagnosis to treatment and rehabilitation. Our life-changing medicines address diverse patient needs and improve health outcomes across the world.
Our Purpose
We are dedicated to promoting the evolution of transformative treatments through cutting-edge science and technology, addressing the needs of our patients, colleagues, and communities, delivering long term value for all stakeholders.
Our purpose serves as our north star — we catalyze treatments that transform hope into healing.
Our Strategy
Our strategic priorities direct our efforts as we evolve into a global pharmaceutical company focused on innovation, dedicated to enhancing patient outcomes, and advancing global healthcare.
Holistic
Growth
We recognize that our people are our most valuable assets. As our business evolves, we remain focused on driving growth and creating value by building a future-ready workforce.
Lupin’s Value-Based Culture
We ensure every team member understands and imbibes our
values. Our employee-centric policies and processes enable a
workplace culture that supports growth and recognition.
Talent Attraction and Retention
We are committed to nurturing an environment where
every individual can hone their skills, embrace curiosity, and
feel empowered every day. Our learning and development
framework fosters a culture of continuous learning.
Operational
Excellence
We are focused on enhancing efficiency and optimizing productivity to achieve operational excellence across our value chain. This helps us streamline operations and maximize productivity to deliver exceptional value.
Manufacturing Efficiency
We aim to improve the efficiency and productivity of our R&D operations and manufacturing networks through targeted initiatives across key platforms and markets.
Environmental Excellence
We are expanding our renewable energy capacity by investing in biomass fuel boilers, and embracing sustainable energy sources to reduce carbon emissions.
Capital Efficiency
By prioritizing capital efficiency and maintaining a robust balance sheet through disciplined capital allocation, we optimize resources, control costs, and operate with an asset-right model.
Digital Transformation
Accelerating the adoption of digital technologies and data analytics enhances our decision-making and operational agility. This empowers us to respond faster, smarter, and more effectively. We are also embracing AI and Generative AI to usher in greater optimization and drive transformation throughout the business.
Patient
Centricity
Our patients are at the center of everything we do. We strive to deliver meaningful healthcare outcomes and experiences that help patients lead fulfilling lives. What matters most to patients is what drives our actions.
Market Expansion
In India, we continue our focus on the chronic segment, encompassing cardiology, anti-diabetes, respiratory, and gastrointestinal therapies. Lupin’s unwavering commitment to fostering stronger connections with medical practitioners, brand building, and nurturing an agile and digitally enabled field force are pivotal to our growth strategy.
In the U.S., our focus remains on first-to-market launches of complex generics, including biosimilars. In the Europe region, we continue to strengthen our leadership in the respiratory and neurology segments.
To enhance our overall portfolio, we are continuing investments for inhalation, injectables, and biosimilar products, expanding beyond oral solids into more advanced and complex dosage forms.
Accessibility and Affordability
Generics inherently enhance accessibility. In addition, we are committed to ensuring equitable access to medicines and healthcare globally, by accelerating our HIV and anti-TB registrations in low and middle income countries.
Innovation
We relentlessly pursue excellence through continuous improvement across our projects, processes, and products. Our focus remains on developing innovative products that address unmet medical needs and improve patient outcomes. We are expanding our inhalation pipeline through accelerated development and green propellant programs, while also building an injectables portfolio to drive success. The focus on incorporating green propellants into our respiratory range of products is also part of our ongoing commitment to sustainability
Diagnostics and Digital Therapeutics and Neuro-Rehabilitation
Lupin is amongst the first to adopt technologies that advance patient care. To deepen our connect with patients, we embraced advanced digital and diagnostic solutions early.
Lupin Diagnostics, our trusted network of labs and collection
centers, offers convenient, accessible, and reliable services to
patients for their diagnostic needs.
Lupin Lyfe, India’s first and only evidence-based Digital Therapeutics
Solution for cardiac rehabilitation, supports thousands of patients.
We are also advancing AI in healthcare with our AI chatbots, such as Anya and Sahayak, enhancing delivery of care.
Atharv Ability, Lupin’s Neurological Rehabilitation Centers, currently in Mumbai and Hyderabad, offer state-of-the-art outpatient facilities for neurological rehabilitation for both adults and children.
Enriching the
Ecosystem
Support to Local Communities
Through the Lupin Foundation, we have built a sustainable, scalable, and adaptable model for holistic rural development in India, serving over 1,785 villages across eight states in the year FY25.
De-Risking Value Chain
To ensure uninterrupted supply of our products, we partner with multiple suppliers, maintain buffer stocks, and utilize advanced supply chain modeling to preempt disruptions. Strategic investments in business intelligence and forecasting systems have helped us build a resilient global supply chain, ensuring exceptional service levels. We maintain consistent supplies by identifying and onboarding alternate vendors for critical APIs and intermediates. We also assess our vendors’ adherence to our ESG principles and actively support them in building capabilities for a more sustainable value chain.
Regulatory Compliance
We ensure full compliance with all applicable norms and regulations of national and international regulatory bodies. Our operations also adhere to internationally recognized standards and certifications, including environmental management, occupational health and safety, quality management, pharmaceutical quality systems, and laboratory testing and calibration.
MRS. MANJU D. GUPTA
Chairperson
Chairperson
Sustainability and Corporate Social Responsibility Committee
MS. VINITA GUPTA
Chief Executive Officer
Member
Risk Management Committee
Sustainability and Corporate Social Responsibility Committee
MR. NILESH D. GUPTA
Managing Director
Member
Stakeholders’ Relationship Committee
Risk Management Committee
Sustainability and Corporate Social Responsibility Committee
MR. RAMESH SWAMINATHAN
Executive Director, Global CFO, Head of IT and API Plus SBU
Member
Risk Management Committee
MR. JEAN-LUC BELINGARD
Independent Director
Chairman
Nomination and Remuneration Committee
DR. PUNITA KUMAR-SINHA
Independent Director
Chairperson
Audit Committee
Member
Nomination Remuneration Committee
Stakeholders’ Relationship Committee
Sustainability and Corporate Social Responsibility Committee
MR. K. B. S. ANAND
Independent Director
Chairman
Stakeholders’ Relationship Committee
Member
Audit Committee
Sustainability and Corporate Social Responsibility Committee
MR. MARK D. McDADE
Independent Director
Member
Nomination and Remuneration Committee
Risk Management Committee
MR. JEFFREY KINDLER
Independent Director
Chairman
Risk Management Committee
MR. ALFONSO ZULUETA
Independent Director
Member
Audit Committee
MS. PUNITA LAL
Independent Director
Member
Nomination and Remuneration Committee
Risk Management Committee
Assurance Statement