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Lupin expects to sustain momentum on margin improvement
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Our Bureau, Mumbai
November 11 , 2020
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Pharma major Lupin Ltd stated that it expect to sustain the momentum on margin improvement led by optimization efforts underway and robust growth in the company’s key businesses.
The company also expects 18.5 per cent earnings before interest, taxes, depreciation, and amortization (EBITDA) margin levels for the second half of the year.
For the second quarter ended 30th September, 2020, the company posted net profit at Rs. 214 crore for the second quarter ended 30th September, 2020 as against to a net loss of Rs. 182 crore in 30th September, 2019.
During the quarter, India region formulation sales were flat as compared to Q2 FY2020. The investment in R&D for the quarter stood at Rs. 384.3 crore.
Commenting on the results, Nilesh Gupta, managing director, Lupin Limited said, “We are very pleased with the strong recovery of our business during the quarter, demonstrated by sequential growth across all our geographies, in particular US and India. This quarter marks the start of monetization of our complex generic pipeline with the launch of Etanercept biosimilar in Europe and generic Albuterol in the US.”
The company said that it has received approval for 4 ANDAs from the US FDA during the quarter. Cumulative ANDA filings with US FDA stood at 436 as of September 30, 2020, with the company having received 280 approvals.
Ramesh Swaminathan, CFO and head corporate affairs stated, “Q3 will be better than Q2. We expect to grow at 6-8 per cent year on year for India business. We continue to see demand in chronic areas such as anti-diabetic and cardiac care.”
Lupin is an innovation-led transnational pharmaceutical company headquartered in Mumbai, India. The company develops and commercializes a wide range of branded and generic formulations, biotechnology products and APIs in over 100 markets in the US, India, South Africa and across Asia Pacific (APAC), Latin America (LATAM), Europe and Middle-East regions.
The company enjoys leadership position in the cardiovascular, anti-diabetic, and respiratory segments and has significant presence in the anti-infective, gastro-intestinal (GI), central nervous system (CNS) and women’s health areas. Lupin is the third largest pharmaceutical company in the US by prescriptions.
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