“Embedded in Lupin is a formula for growth which fuels creativity, performance and innovation”
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
Net Sales up 40.0%, EBITDA up 54.4% and Net profits up 55.1%
Mumbai, August 09, 2016: Pharma Major Lupin Limited reported its performance for the first quarter ending June 30th, 2016. These results were taken on record by the Board of Directors at a meeting in Mumbai today.
Business Performance (Refer to the Key Markets – Business Mix Section, Page 4)
Commenting on the results, Mr. Nilesh Gupta, Managing Director, Lupin Limited, said “In keeping with the growth momentum, we continue to execute flawlessly and have delivered our best results to date. This was a record quarter, driven by robust growth across all our key markets – the United States, India and Japan. We remain committed to maintaining our growth trajectory given new product launches and approvals driven by strategic investments in technology and research.”
Consolidated financial Results – Quarter I, FY2017
Figures in Rs. M
Profit & loss highlights
Balance sheet highlights
Lupin’ sales in North America grew by 82.3% to Rs. 21,886 m. during Q1 FY2017 as compared to Rs. 12,004 m. during Q1 FY2016; contributing 51% of Lupin’s global sales.
Lupin’s India formulation sales grew by 5.2% to Rs. 9,313 m. during Q1 FY2017 as compared to Rs. 8,849 m. during Q1 FY2016; contributing 22% of Lupin’s global sales. The India Formulation business grew by 23.2% sequentially as compared to Rs. 7,561 m. during Q4 FY2016.
Lupin’s APAC sales grew by 32.9% to Rs. 5,416 m. during Q1 FY2017 as compared to Rs. 4,076 m. during Q1 FY2016; contributing 12% of Lupin’s global sales. APAC sales grew by 19.5% sequentially as compared to Rs. 4,532 m. during Q4 FY2016.
Lupin’s Japan sales grew by 11.1% to JPY 6,868 m. during Q1 FY2017 as compared to JPY 6,183 m. during Q1 FY2016 and grew by 15.8% sequentially as compared to JPY 5,930 m. during Q4 FY2016.
Lupin’s Philippines sales grew by 65.5% to PHP 487 m. during Q1 FY2017 as compared to PHP 295 m. during Q1 FY2016 and grew by 10.6% sequentially as compared to PHP 441 m. during Q4 FY2016.
Europe, Middle-East and Africa (EMEA)
Lupin’s EMEA sales grew by 20.6% to Rs. 2,194 m. during Q1 FY2017 as compared to Rs. 1,819 m. during Q1 FY2016; contributing 5% of Lupin’s global sales. EMEA sales declined by 10.5% sequentially as compared to Rs. 2,452 m. during Q4 FY2016.
Lupin’s South Africa sales grew by 31.9% to ZAR 205 m. during Q1 FY2017 as compared to ZAR 155 m. during Q1 FY2016 and declined by 20.4% sequentially as compared to ZAR 258 m. during Q4 FY2016. Lupin remains the 4th largest generic player in the South African market.
Lupin’s Germany sales grew by 88.2% to Euro 6.4 m. during Q1 FY2017 as compared to Euro 3.4 m. during Q1 FY2016 and declined by 12.3% sequentially as compared to Euro 7.3 m. during Q4 FY2016.
Latin America (LATAM)
Lupin’s LATAM sales grew by 76.8% to Rs. 1,089 m. during Q1 FY2017 as compared to Rs. 616 m. during Q1 FY2016; contributing 2% of Lupin’s global sales. LATAM sales grew by 17.9% sequentially as compared to Rs. 924 m. during Q4 FY2016.
Lupin’s Brazil sales grew sequentially by 12.9% to BRL 31 m. during Q1 FY2017 as compared to BRL 27 m. during Q4 FY2016.
Lupin’s Mexico sales grew by 0.8% to MXN 132 m. during Q1 FY2017 as compared to MXN 131 m. during Q1 FY2016 and grew by 13.5% sequentially as compared to MXN 116 m. during Q4 FY2016.
Global API sales declined by 12.4% to Rs. 2,869 m. during Q1 FY2017 as compared to Rs. 3,275 m. during Q1 FY2016; contributing 7% of Lupin’s global sales. API sales grew by 0.9% sequentially as compared to Rs. 2,844 m. during Q4 FY2016.
Revenue expenditure on R&D for Q1 FY2017 amounted to Rs. 4,994 m., 11.6% of net sales.
Lupin filed 2 ANDAs and received 7 approvals from the US FDA during the quarter. Cumulative ANDA filings with the US FDA stood at 336 as of June 30th, 2016, with the company having received 187 approvals to date. The Company now has 45 First-to-Files (FTF) filings including 25 exclusive FTF opportunities. Cumulative DMF filings stands at 172 as of June 30th, 2016.
The Company received 4 MAAs approval from the European authority during the quarter. Cumulative filings with European authorities now stands at 67 with the company having received 54 approvals to date.
About Lupin Limited
Lupin is an innovation led transnational pharmaceutical company producing and developing a wide range of branded & generic formulations, biotechnology 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 5th largest generics player in the US (5.51% generic market share by prescriptions – IMS Health, National Prescription Audit, MAT March 2016) and the 2nd largest Indian pharmaceutical company by market capitalization. The Company is also the 9th largest generic pharmaceutical player in Japan and the 4th largest generic pharmaceutical company in South Africa (IMS Health, March 2016).
For the financial year ended 31st March, 2016, Lupin’s Consolidated sales and Net profit stood at Rs. 136,539 million (USD 2.09 billion) and Rs. 22,607 million (USD 345 million) respectively. Please visit http://www.lupin.com for more information.
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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 –
Head – Corporate Communications
Ph: +91 98 20 338 555
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