Over the last two years, we have seen the COVID pandemic not only as a hurdle to be overcome but also as an opportunity to build on our adaptability and resilience. Through this, we look forward to an enriching and transformational journey that will lead to long-term growth through leveraging our strong foundation and global reach, evolving our generics business and expanding our product portfolio.

It was gratifying to see several promising developments in the past fiscal such as the satisfactory inspectional classification for our Goa plant by US FDA, the launch of Lupin Diagnostics, the acquisition of the Anglo-French Drugs & Industries Ltd brand portfolio in India as well as the acquisition of Southern Cross Pharma in Australia.

On the manufacturing front, we did well to serve our customers through maintaining continuity of supplies despite multiple COVID-19 waves through the year. Our digital transformation initiative at our manufacturing sites, Accelerated Digital & Analytics Performance Transformation (ADAPT), is enabling us to leverage next-gen technologies such as advanced analytics, artificial intelligence and machine learning to deliver top-notch quality, productivity and costefficiencies.

Whilst the business challenges in the U.S. in the form of greater competition continue to erode prices for generic products, we are working on several initiatives to mitigate this impact and lay the foundation for a more resilient future. We have also had success as in now achieving two milestones for our MEK inhibitor (New Molecular Entity) program that we had outlicensed, and good growth in India and other markets, which are reflective of the talent and underlying commitment of our people. In India, especially the chronic side of the business, we continue to grow faster than the market.

Coupled with the focus on high growth markets, I am convinced that the company’s evolution as a leading complex generics player will position us very differently.

We are working on several initiatives across the Environmental, Social and Governance (ESG) space and are committed to rapid progress: for instance, through the Environment lens, we aim to reduce our environmental impact by working with our suppliers to lower their environmental footprint. Further, we are committed to making our company a great place to work for our employees, as we are to fair dealings with other stakeholders and communities. On the Governance front, we are reaffirming our commitment to uphold the highest ethical and responsible standards in everything we do, with an effective management framework in place to ensure that we stay on track.

We stand by DBG’s vision and his commitment to progress through empowering our people, responsible leadership, and focus on innovation even as we evolve in a transforming world.