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CNBC-TV18’s Archana Shukla caught up with Nilesh Gupta on the sidelines of the pharma forum and asked him about the generic pharma market.
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There would be a marginal impact on their earnings because most of the important products that are to be launched are not from Goa and Pithampur units, said, Ramesh Swaminathan, CFO & ED, Lupin.
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Lupin acquired American firm Symbiomix Therapeutics for USD 150 million. The company says they expect significant cash flows from the deal in the next three years. In an interview to CNBC-TV18, Ramesh Swaminathan, CFO & ED of Lupin spoke at length about the acquisition, numbers and his outlook going ahead.
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In an interview to CNBC-TV18, Ramesh Swaminathan, CFO & ED of Lupin spoke about the draft pharmaceutical policy, latest happenings in his company and the sector.
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Speaking from the sidelines of the India Pharmaceutical Forum 2017, Lupin's Managing Director Nilesh Gupta shared his outlook on Indian industry and API inspections.
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"If the gross domestic product (GDP) is around 7-8 percent for the country and pharma sector grows at 10-12 percent, Lupin can grow at 18 percent going ahead on the back of its strong strategies," says S Ramesh, CFO of the company.
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Lupin on Wednesday received preliminary approval from the US FDA to market a generic equivalent of GlaxoSmithKline Plc‘s ViiV Healthcare‘s (ViiV) antiretroviral (ARV) Lexiva tablets in 700 milligram dosage form. This product was filed from the company's Goa plant which has run into a problem with the US FDA
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“Regulatory risks are waning in the sector,†says Abhishek Sharma, pharma analyst at IIFL. Hereon, things are expected to move in positive direction for companies.
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Of the total 18 observations, 9 from July 2015 and another 9 from March 2016 inspection, the former ones relating to equipment and warehousing have been closed. Nine observations are still outstanding for the company.
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The pharma major has received an Establishment Inspection Report (EIR) from the US drug regulator which states that the inspection conducted in July 2015 at Lupin‘s Goa facility has been closed.
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The Lupin Pharmaceuticals duo MD Nilesh Gupta and CEO Vinita Gupta say current business conditions only permit revenue visibility of USD 3.5 billion, although their aspiration is to hit USD 5 billion soon. They are among the 50 contenders vying for the World Entrepreneur Award currently being hosted by E&Y at Monte Carlo.
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The US FDA has given an Establishment Inspection Report to Lupin's Mandideep facility which clears the unit of observations made earlier.
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In the last five months, plants of nine Indian pharmaceutical companies - Cipla, Dr Reddy‘s, Sun Pharma, Cadila, Lupin and Natco Pharma.- have come under the US Food and Drug Administration (FDA) scanner.
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Lupin‘s Goa facility had faced a similar inspection in July last year, when nine observations had been raised by the USFDA. As this facility contributes around 50 percent of its US market sales, which in turn contributes nearly 45 percent to total sales, analysts have been worried on loss of future product approvals.
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Sharma, however, believes that despite the issues getting compounded by the day, most of the companies have enough capabilities to resolve them within the next 12-15 months.
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Speaking to CNBC-TV18, Ramesh Swaminathan, CFO of Lupin says new launches, Abbreviated new drug application (ANDA) approvals as well as acquisitions will aid growth.
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Ramesh Swaminathan, President Finance & Planning, Lupin says worldwide companies are also facing wrath of the US FDA.
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Ramesh said the acquisition would not be a strain on Lupin‘s balance sheet, which was virtually debt free and has a cash surplus of USD 200 million
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Pharma major Lupin reported a very disappointing set of fourth quarter numbers Wednesday with consolidated net profit falling 1.1 percent to Rs 547 crore in January-March quarter from Rs 553 crore in the corresponding quarter last fiscal.
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In an interview with CNBC-TV18, CFO S Ramesh spoke to Latha Venkatesh and Sonia Shenoy about a recent acquisition and other developments such as a recent FDA audit at its Indore facility as well as its plans to launch a generic version of the world‘s second-largest-selling drug Nexium in the US.
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Lupin MD Nilesh Gupta explains why revenues are in line with expectations.
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The Foreign Investment Promotion Board had cleared HDFC Bank‘s proposal in December and had cleared Lupin‘s FDI proposal in November.
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A third of Lupin‘s 72 products are market leaders. The company remains positive on its business outlook.
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As 2014 comes to an end, Surajit Pal of Prabhudas Lilladher shares his outlook on the year that was and the possible trends for 2015.
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The company's consolidated revenue grew by 18.9 percent to Rs 3,173 crore in the quarter ended September 2014 compared to Rs 2,668 crore in corresponding quarter of last fiscal.
