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The Philippines pharmaceutical market is valued at USD 3.9 billion in 2018, reflecting a growth rate of 11.7%. Lupin’s subsidiary, MultiCare Pharmaceuticals Philippines Inc. (MultiCare), a premium branded generics company, generated total revenues of PHP 2,555 million, a decline of 20% compared to the previous year mainly due to the delay of TB tender deliveries to the Department of Health into the next fiscal. MultiCare has a strong presence in Diabetes, Women’s Health, Paediatrics, Respiratory, Central Nervous System and Oncology. MultiCare remains the 5th largest branded generic players in the Philippines.