SINGAPORE--Despite missing its target for bringing 15 to 20 drugs to the U.S. market last year, Lupin is optimistic enough to offer up the same approvals target for 2015.
 |
| Nilesh Gupta |
In a series of interviews, Managing Director Nilesh Gupta said Lupin's failure meet its approvals target in 2014 was disappointing; it won only 9 FDA approvals last year. But he figures 15 to 20 U.S. launches is a workable goal for this year.
Gupta pointed to better prospects for 2015, saying Lupin expects to close a series of recent deals. Looking forward, Lupin is seeking small deals in Russia to expand its presence there.
Plus, Gupta could have more firepower to make deals--in Russia and elsewhere--now that the Indian government has cleared it to sell up to 48% of its business to foreign investors. Market-watchers figured the approval would give Lupin access to up to $1 billion.
Lupin's buyouts will help keep the firm on track for $5 billion in sales by 2018, when it celebrates its 50th anniversary, Gupta said. The goal compares with projected fiscal year 2014 revenues at $1.83 billion.
Gupta acknowledged that its 2014 business was "far from where we would like to be," but added the entire industry is in the same boat.
Russia's $20 billion market is attractive, Gupta said, but he indicated the company might delay commitments there in light of the recent depreciation of the ruble. If Lupin does decide to enter the market, he said, it would look at small acquisitions similar to ones it has done in the past.
- get the story from DNA India
- read more from Hindu Business Line
- check out the Business Standard's piece