INDIA IS LUPIN’S 2ND LARGEST BUSINESS BY REVENUES AND CONTRIBUTED 25% OF THE COMPANY’S GLOBAL REVENUES DURING FY 2016.
Lupin's India business continues to witness strong growth, outpacing and outperforming the Indian Pharmaceutical Market (IPM). All of this, in spite of hyper-competition and regulatory challenges posed by frequent changes in drug prices by National Pharmaceutical Pricing Authority (NPPA) and the expansion of the National List of Essential Medicines (NLEM) that now covers 376 products.
We have been able to counter these challenges by ramping up our sales force, setting up new divisions, entering new therapies and introducing first-in-class products to sharpen our approach in existing therapy segments. In FY 2016, the Company created 5 new business divisions to cater to high growth therapies and launched 19 brands.
Driven by strong ambition and fueled by an extremely passionate 6600+ specialty field force, the Company has emerged as a market leader, outperforming peers and the IPM alike. Lupin’s India business recorded revenues of ` 33,916 million in FY 2016, a growth of 14% over the previous year. Chronic and semi-chronic therapy segments today contribute 87% of Lupin’s overall India revenues. The Company today has 3.3% market share and is the eighth largest player in the IPM (IMS MAT March, 2016).
The Company has been recalibrating its product mix by adding new products; moving from acute to high growth chronic and semi-chronic therapy segments and entering into strategic alliances with leading global players with the objective to widen our product portfolio to address unmet needs in the market. During the year, the Company added 1,000 representatives to enable the creation of new divisions and bring focus so that we can build strong pillar brands. Lupin also launched ‘Ondero’ (Linagliptin), in partnership with Boehringer Ingelheim, marking our foray into the high growth Dipeptidyl peptidase-4 (DPP-4) Inhibitors segment in the Anti-Diabetic space.
We continue to outperform in fast growing therapies of choice such as Cardiology, Respiratory, Gastro-Intestinal and Gynaecology. This bears testimony to the efficacy of the Company’s sharp sales and marketing programs and our ability to nurture and grow brands in an extremely fragmented marketplace.
Lupin today has the largest portfolio of young high growth prescription brands in the IPM, over 29 brands with sales in excess of 300 million. 4 of the Company’s brands have sales exceeding ` 1,000 million. Gluconorm®, Lupin’s largest brand in India crossed 2,000 million in trade sales during FY 2016.
The Company has created structured training programs and regular scientific inputs for its specialty sales force, so that they are in tune with the latest advances and innovations. We use specialized sales force automation and detailing tools to leverage the benefits of technology. The Company continues to expand its coverage in the country in its efforts to reach out to more doctors and medical institutions, associations to build stronger relationships with the medical fraternity. We are cross-leveraging our existing associations with global think tanks and institutions to bridge and bring the latest medical know-how and advances to the medical community. We are committed to improving patient care in the country by spreading awareness, health education and meaningful care.
The measure of our performance has never been in our growth numbers but in our collective passion to deliver.