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Lupin’s India business has been a dynamic front-runner despite the challenges presented by the impact of the GST implementation, regulatory challenges and pricing pressures. The implementation of GST impacted our price realization by ~3% by subsuming all other taxes into a single consolidated tax. The first quarter which was the period just before GST implementation, saw a significant impact on volumes as the trade de-stocked resulting in Industry de-growth. However, the Industry recovered post the GST scenario and Lupin’s performance was impressive.
For the year ended 31st March, 2018, our Domestic Formulation Revenue stood at Rs.41,253 million, representing a growth of 8% over the previous year as compared to the market growth rate of 6%. With a 3.5% Market Share (as per IQVIA MAT, March 2018), Lupin’s India business moved to 5th rank in sales this year from the 6th rank in Indian Pharmaceutical Market (IPM) last year.
We have also achieved a distinctive edge at a therapy level – especially across our Top 3 therapies namely Cardiac, Diabetes and Respiratory. The chronic therapies account for 58% of our India business and recorded a robust growth of 13% (vis-a-vis 8% for the market), with an improved ranking to the 4th position from the 5th position in the last year.
The Company’s top five therapies contribute over 72% of our sales. Our focus is to consolidate our leadership in these areas of strength by launching novel molecules and building market share.
We have maintained our leadership in Anti-TB and Respiratory, where we are ranked No. 1 and No. 2 respectively. In addition to this, we have improved our ranks in the Anti-Diabetic, Neuro/CNS and Gynaecology space and achieved market growth in the Respiratory, Anti-Diabetic and Gynaecology therapeutic areas. At present, five of Lupin’s brands are in the Top 300 in IPM and we continue to be the 2nd highest in revenues from new product introductions.
Our specialized field force outperformed despite a tough environment. We strengthened our team by introducing new knowledge-based initiatives like Konnect – a platform conceptualized and curated by medical experts to provide scientifically relevant content to Medical Practitioners.
Lupin India region is poised for progress, committed to improving patient care and looks forward to yet another year of exceptional performance.
OTC ‒ LupinLife Consumer Health Care
The LupinLife Consumer Health Care division started operations with the pan India launch of Softovac® in Q2 FY2018. With this, Lupin successfully forayed into the fast-growing Over-the-Counter (OTC) segment in the country. Endorsed by popular movie actor Anil Kapoor, Softovac® has strengthened its dominant position in its category and is the only laxative brand to feature in The Economic Times list of Most Promising Brands for 2018.
Lupin plans to strengthen its position in the OTC segment with the launch of Corcal Bone & Beauty, a Vitamins and Minerals Supplement. The product is a unique calcium supplement for women and is positioned as a health and beauty supplement.