Weak US sales pulls down Lupin's Q4 show

Operating performance in March quarter also impacted by one-offs

Sales in the US market was a weak point for Indian pharmaceuticals sector in the March quarter; Lupin was no exception. The pricing pressure in key products, absence of meaningful launches and rupee appreciation added to its woes.

The company's sales in the world's largest pharma market declined 13.2 per cent year-on-year (y-o-y) and 12.6 per cent over the December 2016 quarter. Thus, despite a strong showing in most other places, declining US sales (46 per cent of overall revenue) was bound to put pressure on the performance. As a result, consolidated revenue at Rs 4,253 crore barely grew (up 1.3