 "Lupin eyes 3-fold hike in revenues to $5 bn by 2018")
Drug major Lupin is eyeing a nearly three-fold increase in its revenues at $5 billion by 2018 as it looks to grow its business organically and by acquiring companies and brands.
"My vision for Lupin, from Rs 5,000 to $5 billion in 50 years, is but the beginning for bigger more pertinent goal, a happier tomorrow," Lupin Ltd Founder Chairman Desh Bandhu Gupta said in the company's Annual Report (2012-13).
Gupta founded the Mumbai-based firm in 1968. For 2012-13 fiscal, the company's net sales grew by 35.9% to Rs 9,461.6 crore ($1.74 billion).
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"All our businesses continue to unlock value on a sustained basis with robust performance being delivered by US and Europe, India, Japan and South Africa," Lupin Ltd Managing Director Kamal K Sharma said.
He added that the company has focused on three distinct elements of business for creating a differentiated paradigm — products, processes and people to create operational excellence and incremental innovation.
"This has helped us translate conceptual constructs into value enhancing outcomes," Sharma said, adding that Lupin has successfully 'ring-fenced its business by creating competitive advantages which have become distinctive differentiators'.
In the US market, the company is aiming to strengthen its branded portfolio with the launch of additional products developed and filed with the USFDA from its own pipeline as well as through strategic brand acquisitions.
"With a significant pipeline in hand, continued investments to expand our technology capabilities and aspiration to grow our business through organic efforts and acquisitions, we are just getting started," Lupin Group President Vinita Gupta said.
The company is adopting a three-pronged approach in its acquisition strategy, which also includes the domestic market. While it will scout for brands to acquire, in some geographies, it will look to take over companies which can provide it new technology or market access.
"Over the last decade, Lupin has successfully ring-fenced its business by creating competitive advantages which have become distinctive differentiators," Sharma said.