Taking Lupin Places
Vinita Gupta has steered Lupin through some tough times. Despite challenges posed by strong pricing pressure, a broad inflationary environment and roadblocks on the Good Manufacturing Practices (GMP) front, Lupin posted a 12.1% YoY rise in net sales at ₹4,330 crore in Q4FY23. For the full year (FY23), net sales were at ₹6,270 crore, compared with ₹16,193 crore in FY22. While her father, late Desh Bandhu Gupta launched Lupin in 1968, Gupta is credited with taking the business international. In the U.S., the company’s strategy of a strong portfolio, cost-optimisation efforts, and focus on R&D in complex products have led to growth. Its India business grew 15% year-on-year in Q4FY23, showing growth in the top three therapeutic areas (cardio, respiratory and diabetes) as well as in gynaecology and gastroenterology. Her focus on complex generics, particularly in inhalation and injectables, led to the US FDA approval for its key respiratory drug gSpiriva (tiotropium), the first generic approval of the drug in the U.S. It has already filed for 19 products, including four injectables and three inhalation assets. The US FDA recently approved its Pithampur Unit-2 facility as well. Among others, the Somerset facility has already received VAI status — the second-best classification that a manufacturing facility of a pharma company can get from the US FDA —, while Nagpur has completed successful inspection. Both are likely to give a boost to the lunch of injectables starting this fiscal. “The company also has a pipeline in oncology,” adds CEO Gupta.