Lupin Ltd
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Transcript of Lupin Ltd
Corporate Highlights – Q2 10-11 18 consecutive quarters of growth in sales and profits
Net sales grew by 26% to Rs. 14,051 million during Q2, FY 2010-11, up from Rs. 11,147 million (Q2 FY 09-10)
Net profits grew by 34% to Rs. 2,150 million during Q2, FY 2010-11, as compared to Rs 1,603 Mn. (Q2 FY 09-10)
Growth across all geographies US business grew by 44% in USD terms Japan grew by 17% in JPY terms S African business grew at 26% in ZAR terms India Region sales continued growth rate at 16%
Capex spend at Rs 92 Crores to meet expected demand during the quarter. Revenue Expenditure on R&D increased by 0.8% to Rs. 1157 Mn., amounting to
8.2% of Net Sales during Q2, FY 2010-11, as against Rs. 822 Mn., 7.4% of Net Sales (Q2, FY 2009-10)
During the quarter the company filed 2 ANDA’s bringing the Cumulative filings as of Q2, FY 2010-11, to 132 filings, of which 45 have been approved by the US FDA
Acquired Majority stake in Generic Health.
Balance Sheet Ratios
Particulars Q2 10-11 FY 09-10
Operating Working Capital
13,219 11,869
No. of Days to Sales 89 91
ROCE (%) 23.0% 22.5%
Debt Equity Ratio 0.32 0.37
Rs Mn
Corporate Highlights FY 09-1015 consecutive quarters of growth in sales and profitsGrowth across all geographies
US business grew by 28% in dollar terms Japan grew by 10% in JPY terms S African business grew at 34% in ZAR terms India Region sales continued growth rate at 18%
Capex spend at Rs 443 Crores to meet expected demand Year of strong research delivery
37 ANDAs and 19 DMFs filed in the year IP settlements – Lotrel (Benazepril/Amlodipine), Namenda (Memantine) Licensing of Rifaximin ER to Salix for the US
Year of Regulatory compliance Mandideep facility cleared of Warning Letter in 7.5 months All plants inspected by FDA
Generics – US Launched Losartan & Losartan Hctz (in Oct) 5th largest Generic player in the U.S. in terms
of prescriptions (IMS Health) Generics business grew by 59% No. 1 in 14out of 28 products marketed Top 3 in 26 of the 28 products
Advanced Markets – US and EuropeGenerics – EU Cefpodoxime Proxetil tabs
France – 72% market share Ceftiofur – Ranked #1 generic
Branded Branded portfolio forms 25%
of US Turnover
India Region Formulations
6 products find a place among the top 300 in the industry
12 new products launched in the Quarter
Aggressive focus on brand building
Extensive collaboration with thought leading institutions
Continues to be among the fastest growing pharma company in the domestic space @ 16%
Contributed 30% to Lupin’s overall revenues during Q1, FY 2010-11
Branded business grew by 20% Current Field Force strength at
4000
Rs Mn
Japan
Launched Latanoprost ED during FY 2010-11
Market leader in Risperidone in terms of units
Significant player in Amlodipine
Profit enhancement measures to yield greater results in the days to come
Registered Net Sales of Rs. 1568 Mn and contributed 11% to Lupin’s consolidated revenues during the quarter.
JPY Mn
South Africa
Growth sustained at over 26% in ZAR terms
Leaders in Amlodipine and Bilocor in unit sales
Sixth largest generic company in the S African market
Leading presence in CVS Several new products under
registration Future growth through
improved generics, IP challenges and in-licensing
ZAR Mn
ROW
New brand launches in Philippines Women’s health, primary care and pediatric segments
Brand acquisition and in-licensing – a common theme across markets
OTC promotion support in mass media
Created thrust in three countries across CIS – Russia, Ukraine and Kazakhstan
Strategic focus on tender / hospital business paying rich dividends in CIS
Increased focus on brand building and entry into retail chains
API and Intermediates
Cost, quality and reliability are the cornerstones of our API strategy
Global leadership in chosen therapies Cephs Ceph-intermediates Anti-TB range Lisinopril
India’s most profitable API entity – ROCE 36%
Achieved global cost, capacity and marketshare leadership in most products
Strategic input into formulations business
Research and DevelopmentTalent pool of 700+ scientists132 ANDAs, 105 DMFsLitigation Settlements – Loestrin Fe, Femcon Fe.Ability to churn out rich pipeline across geographiesIncreased focus on F2F and Para IV’sStrength in drug delivery
Bioadhesive Laser-drilled Matrix/coated Taste-masking
Revamping Drug Discovery Requisite infrastructure in place
Total expenditure Q2 2010-11 – Rs. 1,157 Mn, 8.2% of Net sales
Market Filings ApprovalUS 132 45EU 82 38
US Generics Pipeline
132 products filed, 45 approved
Para IV’s addressing market size of US$ 30 Bn
F2Fs – Desloratadine, Memantine, Duloxetine, Eszopiclone, Ziprasidone, Lanthanum Carbonate, Pregabalin, Lo-Seasonique, Seasonale
Exclusive F2Fs – Fortamet, Glumetza, Cipro DS
Differentiated products Oral contraceptives Ophthalmic Niche products – Niacin XR, Esomeprazole, Tricor, Sevelamer
Lupin’s Core Strength in GenericsLupin’s Core Strength in Generics
Managing the Environment Advantage
• Local market knowledge• Speed & agility• High quality products• Low cost manufacturing