Brazil is a high growth market, accounting for more than 35% of the region’s sales and ranked as the 6th largest pharmaceutical market in the world, valued at USD 28 billion, and is projected to grow over 11%.
Lupin’s Brazilian subsidiary, Medquímica was acquired in 2015 for its strong manufacturing platform and its e¤cient substitution generic commercial structure, with the goal to position Lupin in Brazil. It is the largest Indian company in volumes in Brazil and was ranked 2nd in value amongst its Indian peers in 2017. Medquímica grew 25% in value in FY2018, with sales of BRL 157 million, growing at double the market rate. It launched 11 products and filed 15 products for launch in the coming years. The Company also inaugurated an automated warehouse that doubles its capacity and improves its customer service benchmarks as the Company aims to increase its presence in large pharmacy chains.