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Lupin Quarter I, FY 2020 - Results
Mumbai, August 07, 2019: Pharma major Lupin Limited reported its financial performance for the first quarter ending June 30, 2019. These results were taken on record by the Board of Directors at a meeting held in Mumbai today.
Key Financial & Performance Highlights
Commenting on the results, Mr. Nilesh Gupta, Managing Director, Lupin Limited said, “We are pleased with the robust all-round performance in our key markets, marking a healthy start for the fiscal year. This year is critical as we are committed to delivering on our strategic growth drivers, including commercialization of Complex Generics, ramp-up of our Specialty business and delivering on operational and cost efficiencies. Regulatory compliance remains a top organizational priority and we are making steady progress.”
Consolidated Unaudited Financial Results – Quarter I, FY2020
Amount in INR m.
Income Statement highlights – Q1 FY2020
Balance Sheet highlights
Lupin’s North America sales for Q1 FY2020 were INR 15,412 m. compared to sales of INR 17,406 m. during Q4 FY2019 and INR 11,858 m. during Q1 FY2019; accounting for 35% of Lupin’s global sales.
Lupin’s India formulation sales for Q1 FY2020 were INR 13,077 m. compared to sales of INR 10,525 m. during Q4 FY2019 and INR 11,924 m. during Q1 FY2019; accounting for 30% of Lupin’s global sales.
Lupin’s APAC sales were at INR 6,717m. during Q1 FY2020 compared to sales of INR 6,901 m. during Q4 FY2019 and INR 6,077 m. during Q1 FY2019; accounting for 15% of Lupin’s global sales.
Lupin’s Japan sales were JPY 8,858 m. during Q1 FY2020 compared to JPY 8,580 m. during Q4 FY2019 and JPY 8,129 m. in Q1 FY2019.
Lupin is now the 5th largest generic player in Japan (IQVIA MAT June 2019).
Lupin’s Philippines sales were PHP 323 m. during Q1 FY2020 compared to PHP 557 m. during Q4 FY2019 and PHP 352 m. during Q1 FY2019.
Europe, Middle-East and Africa (EMEA)
Lupin’s EMEA sales were INR 2,604 m. for Q1 FY2020 compared to sales of INR 3,397 m. during Q4 FY2019 and
INR 2,760 m. during Q1 FY2019; accounting for 6% of Lupin’s global sales.
Lupin’s South Africa sales were ZAR 250 m. during Q1 FY2020 compared to ZAR 342m. during Q4 FY2019 and
ZAR 261 m. during Q1 FY2019.
Lupin is the 5th largest generic player in the South African market (IQVIA May 2019).
Lupin’s Germany sales were EUR 7.8 m. during Q1 FY2020 compared to EUR 7.1 m. during Q4 FY2019 and
EUR 7.5 m. during Q1 FY2019.
Latin America (LATAM)
Lupin’s LATAM sales were INR 1,550 m. during Q1 FY2020 compared to INR 1,385 m. during Q4 FY2019 and
INR 1,256 m. during Q1 FY2019; accounting for 4% of Lupin’s global sales.
Lupin’s Brazil sales were BRL 47 m. during Q1 FY2020 compared to BRL 36 m. during Q4 FY2019 and BRL 25 m. during Q1 FY2019.
Lupin’s Mexico sales were MXN 167 m. during Q1 FY2020 compared to MXN 178 m. during Q4 FY2019 and
MXN 159 m. during Q1 FY2019.
Lupin’s Global API sales were INR 3,489 m. during Q1 FY2020 as compared to INR 2,912 m. during Q4 FY2019 and INR 3,581 m. during Q1 FY2019, accounting for 8% of Lupin’s global sales.
Research and Development
Revenue Expenditure on R&D during Q1 FY2020 amounted to INR 3,785 m., 8.7% of sales as against INR 3,963 m., 9.2% of sales during Q4 FY2019 and INR 3,753 m., 9.9% of sales during Q1 FY2019.
Lupin received approvals for 5 ANDA from the US FDA during the quarter. Cumulative ANDA filings with the US FDA stood at 422 as of June 30, 2019, with the company having received 270 approvals to date.
The Company now has 40 First-to-Files (FTF) filings including 15 exclusive FTF opportunities. Cumulative DMF filings stands at 204 as of June 30, 2019.
About Lupin Limited
Lupin is an innovation led transnational pharmaceutical company developing and delivering a wide range of branded and generic formulations, biosimilar products and APIs globally. The Company is a significant player in the Cardiovascular, Diabetology, Asthma, Pediatric, CNS, GI, Anti-Infective and NSAID space and holds global leadership position in the Anti-TB segment.
Lupin is the 8th largest generics pharmaceutical company by revenues (Mar 31, 2019, Bloomberg LTM). The Company is the 3rd largest pharmaceutical player in the US by prescriptions (IQVIA MAT Mar 2019); 3rd largest Indian pharmaceutical company by global revenues (Mar 31, 2019, Bloomberg LTM); 6th largest company in the Indian Pharmaceutical Market and 5th largest generic pharmaceutical player in Japan (IQVIA MAT Jun 2019).
For the financial year ended March 31, 2019, Lupin’s Consolidated sales and Net profits before exceptional items were at INR 163,694 million (USD 2.34 billion) and INR 9,466 million (USD 136 million) respectively. Please visit http://www.lupin.com for more information. You could also follow us on Twitter at – www.twitter.com/lupinglobal
CIN: L24100MH1983PLC029442 Registered Office: Lupin Ltd, 3rd Floor, Kalpataru Inspire, Off Western Express Highway, Santacruz (East), Mumbai 400 055.
For further information or queries please contact –
Safe Harbor Statement
Vinita Gupta is the CEO of Lupin Limited (Lupin) and Chairperson of Lupin Inc., (LI) and its US subsidiary, Lupin Pharmaceutical Inc. (LPI).
Vinita is a graduate in pharmacy from the University of Mumbai and earned an MBA degree at the Kellogg School of Management at Northwestern University. Vinita has been instrumental in formulating and executing a strategy that has helped the company emerge as a global pharmaceutical powerhouse; amongst the most exciting growth stories in the pharmaceutical industry. Through a combination of organic growth and strategic acquisitions, she has led the company’s global expansion plans. In particular, she founded, led and established Lupin’s largest region, the United States.
Vinita has been regularly named by Forbes Asia in its Top 50 Power Business women listings for Asia Pacific. Vinita was also recognized by Business Today Hall of Fame – Most Powerful Women in Business in 2016 and was recently named Outstanding Business Woman Leader of the Year by CNBC India Business Leader Awards. She was the winner of the inaugural EY, U.S. 2012 Family Business Award of Excellence and EY Entrepreneur Of the Year® 2012 award winner for Health Services and Technology in Maryland. She is regarded as amongst the most influential Indian Business Women globally.
Vinita along with her brother Nilesh (Managing Director, Lupin Limited) were named Ernst & Young (EY) Entrepreneur of The Year 2015 and won the Forbes India Leadership Awards 2016, Entrepreneur of the Year.
In 2017 Vinita was appointed to the board of directors for Intrexon Corporation. She is also a member of the Global Advisory Board at the Kellogg School of Management at Northwestern University.
Mr. Nilesh Gupta is the MD of Lupin Limited and a member of the Board of Directors. Having joined Lupin in 1996, Mr. Gupta led Lupin’s research, supply chain, manufacturing, quality and regulatory operations, and took charge as the company’s Managing Director in 2013. He has not only been responsible for transforming Lupin’s research program and expanding the company’s manufacturing operations but has also been instrumental in formulating and executing the core strategy that has helped Lupin emerge as a global specialty pharmaceutical major.
Mr. Gupta, along with his sister Vinita Gupta, won the Entrepreneur of the Year award at Forbes India Leadership Awards in 2016 as well as Ernst & Young ‘Entrepreneur of the Year Award’ in India in 2015, also with his sister Vinita Gupta.
Mr. Gupta is a Chemical Engineer from the University Department of Chemical Technology (UDCT) (now ICT), Mumbai, and a graduate with honours from the Wharton School, University of Pennsylvania, USA, where he specialized in healthcare, strategic management and finance.