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Japan is the 3rd largest pharmaceutical market in the world with total sales of approximately USD 80 billion (IMS World Review 2017). According to IMS MIDAS (MAT December 2016), generic segment sales have grown 7.6% in value (constant currency exchange rate) and 13.6% in volume following the government’s strong promotion of generic use to achieve the 80% generic substitution rate by 2020.
Japan is Lupin’s 3rd largest market and contributed 10% to our global revenues during FY 2017. It is also the largest market within the APAC region, representing 79% of the region’s total revenues. Lupin’s subsidiaries in Japan, Kyowa and Kyowa Criticare (collectively Kyowa) generated JPY 28,756 million (Rs.17,812 million) in revenues reflecting a healthy 15% increase over the previous year.
Kyowa is the 6th largest generic player in Japan and has a strong presence in Neurology and Psychiatry where key products are promoted under the AMEL brand.
During the year, the Company acquired 21 brands from Shionogi which helped to consolidate itself as a major player in the CNS space. Kyowa also entered into an agreement with Astellas to secure the exclusive rights to distribute and promote a new brand - Bipresso XR (extended-release tablets of quetiapine fumarate), prescribed for depressive symptoms associated with bipolar disorder as a CNS specialty product. During the year, the Company introduced 8 new generics (38 SKUs) and 4 neuro-psychiatric products in the market.
In order to address growing demand, the Company expanded its manufacturing operations by commissioning a greenfield facility in Totorri. The Company’s strategy to optimize cost by backending production at its dedicated off-shore facility in Goa gathered momentum during the course of the year with a significant increase in volumes and number of products.
Kyowa’s Research Centre at Osaka duly supported by Lupin’s R&D capabilities worldwide are well geared to capitalize on upcoming patent expiration opportunities in Japan. This would help fulfil Kyowa’s goal to become a significant player in the Japanese generic market with meaningful new launches across therapy areas.