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The Philippines pharmaceutical market was valued at USD 3.5 billion in 2017, reflecting a growth rate of 8%. Lupin’s subsidiary, MultiCare Pharmaceuticals Philippines Inc. (MultiCare), a premium branded generics company, generated total revenues of PHP 2,070 million, a growth of 5% resulting from the termination of low margin third-party licenses. MultiCare has a strong presence in Diabetes, Women’s Health, Paediatrics, Respiratory, Central Nervous System and Oncology. MultiCare is the 19th largest pharmaceutical player in the Philippines and has moved to 4th rank from 5th amongst branded generic players (IQVIA Sales MAT, February 2018).