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JAPAN

In FY2019, our Japan business contributed 13% of our global revenues. Being our largest market in the APAC region, it contributes 82% of the region’s revenues. Lupin’s subsidiaries in Japan, Kyowa Pharmaceutical Industry Co. Ltd., and Kyowa CritiCare Ltd. (collectively Kyowa), generated JPY 33,889 million in revenues with a decline of 4% over the previous year. We remain the 6th largest Japanese Generic player. Kyowa’s strong presence in the Psychiatry and Neurology space, enabled it to successfully license and launch BipressoTM a Specialty brand from Astellas for the treatment of Bipolar Depression. Additionally, the joint venture with Yoshindo (YLB) has received the approval from Japanese authorities for Lupin’s first biosimilars, Etanercept, in March 2019.