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The South African pharmaceutical market, with a current market size of USD 2.7 billion is growing at 6.4% in value and 1.6% in volume terms. In FY 2017, Lupin’s South African subsidiary Pharma Dynamics (PD) achieved the milestone of scaling ZAR 1 billion (Rs. 4,816 million) in revenues for the first time since its inception with a growth of 21% over the previous fiscal in constant currency terms.
PD ranks among the top 20 pharmaceutical companies in South Africa and is currently the 4th largest generics player as well as the 3rd largest generic company by prescriptions in the country (IMS Health, March 2017). PD is the market leader in the cardiovascular space with sales of ZAR 530 million.