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Mexico is Latin America’s 2nd and the world’s 11th largest pharmaceutical market, valued at USD 11.9 billion as of 2017. The Mexican pharmaceutical market is expected to grow mainly in the Antiviral, Diabetes, Oncology and Cardio-Metabolic therapeutic areas with a shift towards greater export diversity.
Laboratorios Grin, Lupin’s subsidiary in Mexico, remains one of the key players in the Ophthalmic segment and continues to deliver steady growth. In the past 12 months, revenues grew at 21% year-on-year, with sales of MXP 643 million delivering a healthy increase on all profitability parameters over industry benchmarks. The growth is primarily attributed to our existing Ophthalmic portfolio and new product approvals obtained at the end of FY2017. In addition, new product launches in the area of Glaucoma, not only complemented the portfolio by covering all lines of treatment, but became the first prostaglandin offered in a new preservative-free technology.