Lupin looks to acquire brands in the US

Drug major Lupin is looking to acquire brands and technology firms to increase reach in the US market as the company aims to grow sales by over 20 per cent in the world's most lucrative drug market over the next two years. "We are looking to acquire brands in the US market and and also eyeing companies that are based on technology platform," Lupin Ltd Managing Director Kamal K Sharma told Press Trust of India.
He said the company would grow over 20 per cent in the US aided by enhancement of speciality business, including oral contraceptives portfolio. "We should grow at 20 per cent year-on-year for the next two years. We are following a three pronged strategy which includes addition of more value added products, increasing reach and acquisitions," Sharma said.
He, however, did not share details on the brands or companies which the company plans to acquire in the US market. Lupin's US formulations revenue grew 22 per cent to Rs 2,530.3 crore during FY2012 as compared to Rs 2,079.8 crore in FY2011.
During 2011-2012 fiscal, the company also entered the US oral contraceptives space and has already launched three products in the segment. The company, which seeks to evolve into a speciality pharma company has gone beyond generics and has started filing for approvals for niche speciality segments like high-end dermatological products.
The company is also looking to target the anti-asthama and chronic obstructive pulmonary disease (COPD) therapy segments. On the Latin American and north American market, Kamal k. Sharma said: "We are trying to get deeper into the continent." Lupin had entered Latin American market over a year ago by setting up a subsidiary, Lupin Mexico SA de CV, which has started filing products for the market. The company would be addressing the branded and the generic pharmaceutical space within the Mexican market, the company had said earlier.