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OVERVIEW

Lupin is the 4th largest pharmaceutical player in the US by prescriptions (IQVIA NPA, March 2018). Headquartered in Baltimore, Maryland, the Company’s US marketing arm, Lupin Pharmaceuticals Inc. (LPI), is dedicated to delivering superior quality branded and generic medicines trusted by healthcare professionals and patients across the region.

Over the last five years, the Company has made strategic investments in the US-based Research & Development infrastructure and manufacturing facilities. The Research & Development centre for Inhalation, located in Coral Springs, Florida, was established in 2013 and commenced full operations in early 2014. The Somerset, New Jersey-based manufacturing and research operations were acquired in 2016 as part of the GAVIS transaction. This enabled the Company to broaden its pipeline in Controlled Substances, Dermatology, Women’s Health and other niche therapeutic areas.

In October 2017, Lupin acquired Symbiomix Therapeutics, LLC and its FDA approved brand, Solosec™. Solosec™ is the first and only approved single-dose oral treatment for Bacterial Vaginosis (BV) – the most prevalent gynaecologic infection in the US, affecting 21 million women between the ages of 14 to 49 annually. The acquisition of the Solosec™ franchise significantly expands Lupin’s Women’s Health specialty business.

The Company’s Net Sales for the US in FY2018 experienced a 27% decline from the prior year to close the year at USD 879 million. The Brands business contributed USD 90 million i.e. 10% of the total US sales and grew 16% from the previous year. The Generics business contributed USD 789 million i.e. 90% of the total US revenues which was a decline of 30% from the previous year. The overall decline in US revenues were a result of loss of exclusivity on two key molecules and price erosion coming in the wake of channel consolidation and intensified competition.

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FORMULATIONS BUSINESS