India enjoys a key position in the global pharmaceutical market, supplying 20% of global generics. Lupin has built a formidable presence in India since its debut in 1968 when it started supplying Iron and Folic acid tablets to the government. Starting with Anti-TB therapy, our India business has consolidated its leadership in chronic therapies such as Cardiology, Anti- Diabetes and Respiratory; while strengthening its position in the Central Nervous System (CNS), Gastrointestinal (GI) and Orthopedics space.
The India business continues to be the second largest business for Lupin, contributing 35% to our top-line, primarily driven by a strong field force of 7,000+ that reaches a majority of doctors across India.
Due to the impact of COVID-19, the Indian Pharmaceutical Market (IPM) has grown at a significantly lower rate, compared to previous years. As per IQVIA, Lupin’s India business has consistently outperformed the IPM with a five- year CAGR of 10.1% as against IPM’s 8.4%. Over the last five years, Lupin’s India business has improved its market share to 3.59% in FY21. While IPM growth has shown a sharp pick-up in FY2021-22, driven by surging COVID-19-related sales, it is expected to normalize over the year as COVID-19 cases thankfully recede.
According to the first Longitudinal Ageing Study in India (LASI) released by the Union Ministry of Family and Health Welfare in 2020, 2 out of every 3 senior citizens in India suffer from some chronic disease while a fifth of India’s population below 45 years has at least one morbid condition. To cater to these rising chronic ailments, Lupin has maintained its focus on these therapies by expanding its reach, setting up new divisions and launching new products. One more division specializing in cardiovascular therapy was launched in FY 2020-21.
Over the last three years, chronic therapies - Cardiology, Anti-diabetes and Respiratory, have been the leading therapies characterizing the Indian market, growing faster than most other segments in the IPM. Lupin is well placed and retains 4th position in the high-growth chronic segments, which contributes 65.4% of our total revenue, with the balance 34.6% coming from acute segments.
Our top five therapy areas - Cardiology, Anti-diabetes, Respiratory, Anti-infective and Gastrointestinal contribute more than 76% of total sales. We continue to lead the anti-TB segment and maintain second position in the Respiratory and third position in the Anti-diabetes and Cardiology segments. Our antidiabetes segment has delivered growth of 13.3% versus IPM growth of 8.7%, resulting in improved market share from 8.4% in FY20 to 8.7% in FY21. Our cardiac segment had registered a growth of 15.5% versus IPM growth of 12.9%, resulting in improved market share from 6.6% in FY20 to 6.7% in FY21. Even as the Respiratory segment showed negative growth during the year, Lupin’s market share improved from 5.8% in FY20 to 6.2% in FY21.
With the pandemic impacting customer reach of the field force, Lupin continued to invest in digital measures to establish reliable alternate channels of engagement with physicians. Today, our entire field force is equipped with iPads, remote detailing tools and digital solutions to educate doctors about the latest therapy related trends and offerings. To augment marketing efforts and drive evidencebased decisions, we have also partnered with leading healthcare solution providers to get real-time data and advanced analytics.
We continue to create broad scientific platforms to build therapeutic expertise by partnering with leading institutions for co-creating knowledge.
To support doctors in getting their medico-legal queries answered, Lupin launched LegalRx®, a medico- legal guidance platform where doctors can get their queries answered by a team of qualified lawyers. LegalRx has been downloaded by more than 40,000 users and was a top trending application when it was launched. ANYA, our health chatbot launched for answering queries related to Diabetes, Respiratory, Hypertension, Heart Failure and Anti-TB, is now fortified with enhanced reach and capability to answer in five regional languages (Hindi, Tamil, Marathi, Kannada, and Bengali) in addition to English. To reach maximum patients, we now print QR codes to access ANYA on product strips of our leading brands. To date, close to 250,000 unique users have asked for more than 2.45 million queries to ANYA.
Lupin continues to support patients in disease lifestyle management by conducting health camps and sharing health awareness advice through social media, health blogs and other in-clinic educational activities.
Our OTC business, LupinLife Consumer Health, is committed to bringing consumer research-backed offerings via well-positioned brands. LupinLife Consumer Healthcare recorded a healthy growth of 28% despite the impact of COVID-19. Our strategic focus is to build relevance, accelerated execution and demonstrate strong operational excellence. Our flagship brand Softovac® led the growth clocking 30% YoY growth and consolidating category leadership with 46% market share (IMS MAT March 2021 – Bulk Laxatives).
In their first year of transition to our consumer healthcare arm, new OTC launches Aptivate® and Lupizyme® delivered strong growth of 19% and 30% respectively. Recognizing specific consumer needs during the pandemic, we introduced the LupiSafe range of sanitizers, wipes, and sprays. We have also introduced BeOne®, an ayurvedic energy and immunity supplement, to boost immunity and meet specific nutritional needs. The success of our OTC business despite adverse market conditions is testament to our sharp consumer insights coupled with aggressive retail strategies.
Despite COVID-19, the IPM is expected to grow steadily due to rising healthcare awareness, higher incidence of chronic diseases and expanded access to healthcare. According to the IQVIA Global Medicines Usage Trends report of 2021, spending across major emerging markets is expected to grow by 7-10% CAGR through 2025 largely driven by Japan, Brazil, India, and Russia.
Our sustained efforts to enhance our product portfolio to meet patient needs will continue to propel our India business towards newer milestones.
Data Source: IQVIA MAT March 2021