The South African region has shown remarkable growth in pharmaceutical sales over the years. This is primarily attributed to the Government’s initiatives to improve healthcare access for its citizens as well as a favourable economic outlook across the market. The pharmaceutical market is valued at USD 3.9 billion and growing at 8% in value terms.
In FY2018, Lupin’s South African subsidiary Pharma Dynamics (PD) achieved net revenues of ZAR 1.05 billion (` 5,231 million). According to IQVIA Health, as of March 2018, PD showed a sales growth of 10%. In addition, it is now ranked No. 4 in the prescription generic market in South Africa.
While PD has entrenched its position as the largest pharmaceutical company in the Cardiovascular Systems (CVS) therapeutic market with record sales of ZAR 536 million, it is also growing in the Central Nervous System (CNS) space. The CVS portfolio remains the largest part of its revenues and continues to outperform.