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It was Dr. Desh Bandhu Gupta’s vision and passion which helped him grow a small dream into a large company with a global footprint.
The most advanced pharmaceutical product development
Developing new chemical entities for focused therapy areas
Producing quality medicines in areas of
Producing high quality affordable
and accessible biologics
Lupin Quarter 1 FY2021 Results
Mumbai, August 6, 2020: Pharma major Lupin Limited [BSE: 500257 | NSE: LUPIN] reported its financial performance for the quarter ending June 30, 2020. These unaudited results were taken on record by the Board of Directors at a meeting held today.
Financial Highlights (from Continuing Operations) – Consolidated IND-AS
Amt in INR mn
Income Statement highlights – Q1 FY2021
Balance Sheet highlights
Commenting on the results, Mr. Nilesh Gupta, Managing Director, Lupin Limited said, “The quarter’s performance was impacted by the COVID-19 pandemic and related lockdowns, affecting our key businesses in India and US. We continue to focus on business continuity while ensuring employee safety. Despite the challenges impacting revenues, we improved margins driven by tight expense control. We expect to continue the momentum on margin improvement. This is a pivotal year for us to deliver on our key complex generic assets and to sustain the momentum on the compliance front.”
Consolidated Financial Results – Q1 FY2021
Amt in INR mn
Lupin’s North America sales for Q1 FY2021 were INR 12,160 mn, compared to sales of INR 15,791 mn during Q4 FY2020, down 21% compared to sales of INR 15,412 mn during Q1 FY2020; accounting for 35% of Lupin’s global sales.
Lupin’s India formulation sales for Q1 FY2021 were INR 12,854 mn, compared to sales of INR 11,921 mn during Q4 FY2020 and sales of INR 13,077 mn during Q1 FY2020; accounting for 37% of Lupin’s global sales.
During the quarter, India Region Formulation sales declined by 6% compared to Q1 FY2020.
Lupin is the 6th largest company in the Indian Pharmaceutical Market (IQVIA MAT June 2020).
Growth Markets (LATAM and APAC)
Lupin’s LATAM & APAC regions together form our Growth Markets. Together, Growth Markets had sales of INR 2,699 Mn for Q1 FY2021, compared to sales of INR 2,800 mn during Q4 FY2020, down 6% compared to sales of INR 2,864 mn during Q1 FY2020; accounting for 8% of Lupin’s global sales.
Lupin’s Brazil sales for Q1 FY2021 were BRL 55 mn, compared to BRL 37 mn during Q4 FY2020 and BRL 47 mn during Q1 FY2020.
Lupin’s Mexico sales for Q1 FY2021 were MXN 123 mn, compared to MXN 171 mn during Q4 FY2020 and MXN 167 mn during Q1 FY2020.
Lupin’s Philippines sales for Q1 FY2021 were PHP 278 mn, compared to PHP 522 mn during Q4 FY2020 and PHP 323 mn during Q1 FY2020.
Lupin’s Australia sales for Q1 FY2021 were AUD 12.7 mn, compared to AUD 13.0 mn during Q4 FY2020 and AUD 11.5 mn during Q1 FY2020.
Europe, Middle-East and Africa (EMEA)
Lupin’s EMEA sales for Q1 FY2021 were INR 2,500 mn, compared to sales of INR 3,649 mn during Q4 FY2020, down 4% compared to sales of INR 2,604 mn during Q1 FY2020; accounting for 7% of Lupin’s global sales.
Lupin’s South Africa sales for Q1 FY2021 were ZAR 237 mn, compared to ZAR 374 mn during Q4 FY2020 and ZAR 250 mn during Q1 FY2020.
Lupin is the 4th largest player in South Africa in the prescribed generics market (IQVIA May 2020).
Lupin’s Germany sales for Q1 FY2021 were EUR 7.6 mn, compared to EUR 9.3 mn during Q4 FY2020 and EUR 7.8 mn during Q1 FY2020.
Lupin’s Global API sales for Q1 FY2021 were INR 4,090 mn, compared to sales of INR 3,286 mn during Q4 FY2020 and up 17% compared to sales of INR 3,489 mn during Q1 FY2020; accounting for 12% of Lupin’s global sales.
Research and Development
Investment in R&D amounted to INR 3,575 mn (10.3% of sales) for Q1 FY2021 and INR 3,442 mn (9.1% of sales) for Q4 FY2020.
Lupin received approval for 4 ANDAs from the U.S. FDA during the quarter. Cumulative ANDA filings with the US FDA stood at 434 as of June 30, 2020, with the Company having received 276 approvals to date.
The Company now has 47 First-to-Files (FTF) filings including 16 exclusive FTF opportunities. Cumulative DMF filings stand at 197 as of June 30, 2020.
About Lupin Limited
Lupin is an innovation-led transnational pharmaceutical company headquartered in Mumbai, India. The Company develops and commercializes a wide range of branded and generic formulations, biotechnology products and APIs in over 100 markets in the U.S., India, South Africa and across Asia Pacific (APAC), Latin America (LATAM), Europe and Middle-East regions.
The Company enjoys leadership position in the cardiovascular, anti-diabetic, and respiratory segments and has significant presence in the anti-infective, gastro-intestinal (GI), central nervous system (CNS) and women’s health areas. Lupin is the third largest pharmaceutical company in the U.S. by prescriptions. The Company invests 10.3% of its revenues on research and development.
Lupin has 15 manufacturing sites, seven research centers, more than 20,000 professionals working globally, and has been consistently recognized as a ‘Great Place to Work’ in the Biotechnology & Pharmaceuticals sector.
Please visit www.lupin.com for more information.
Follow us on Twitter: www.twitter.com/LupinGlobal | LinkedIn: www.linkedin.com/company/lupin/
For further information or queries please contact –
Head – Investor Relations and Corporate Communications
Tel: +91-22 6640 8237
General Manager – Corporate Communications
Tel: +91-22-6640 2532
The Company will host an Earnings Webinar at 17:30 hrs IST (20:00 hrs SST/HKT, 12:00 hrs GMT, 08:00 hrs US ET) on August 07, 2020, during which the leadership team will discuss the financial performance and address questions. A transcript of the conference call will be available on our website www.lupin.com
To Join the Earnings call (through Zoom):
Please Pre-Register by clicking the link below on your browser
Please join the webinar link by 17:25 hrs IST on August 07, 2020
Instructions to join the Earnings Webinar