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Brazil

Lupin’s Brazilian subsidiary, Medquímica was acquired in 2015 for its strong manufacturing platform and its efficient substitution generic commercial structure, with the goal to position Lupin in Brazil. It is the 5th largest company in volumes in Brazil and is ranked 14th in value amongst its Indian peers. Medquímica grew 3.4% in value and 8.7% in units in FY2019. A total of 15 new products were filed with ANVISA and received 10 new MA during FY2019.