"Active pharmaceutical ingredients (APIs) are the foundation of the pharmaceutical industry and the backbone of Lupin's formulations business"

The global API market continues to grow and is currently valued at over USD 110 billion. Patent expiries in advanced markets like the US and Europe, growth emerging markets and demand for new bio-generic drugs are boosting the growth of the global API industry. Lupin brings to its API business a distinctive focus. Right from the 1980's, the Company recognised that there were two ways of growing the API business: manufacture a large API product basket, or pick a handful of promising APIs in select therapeutic categories and grow them over the long-term. Lupin consciously chose the latter option and focused on not only building competencies and adding scale in those segments but more importantly, building efficiencies that would make it the undisputed leader in these products of choice. Operational efficiencies built not only with a view to protect market share and improve margins but also to add scale to forge better synergies with our global formulations business. Efficiencies that have enabled us to emerge as one of the most vertically integrated global generic formulations majors.

FY 2013 was a record year for the Company's API business. The business clocked in revenues of 9,498 million in FY 2013. We service some the leading pharmaceutical companies in the world; clients who have stayed with us for over a decade which is a testament to the quality of our products and the depth of our relationships. We continue to add more companies to our growing customer list and have also made rapid inroads into new markets like Latin America, Russia and other East European countries. Add to this, a deeper dive into existing markets like US & Europe and the API business are slated to be a sustainable growth opportunities for the Company.

This focus has ensured that Lupin remains the global leader in therapeutic segments such as Cephalosporins, CVS and the Anti-TB space for more than a decade. The Company remains the undisputed No. 1 globally in Anti-TB products such as Rifampicin, Pyrazinamide and Ethambutol, and Cephalosporins such as Cephalexin and Cefaclor and their intermediates.

The Company continues to grow its value-added finished formulation business, the Principal-to-Principal (P2P) business. Lupin's P2P business leverages our rich expertise in API research and formulation development. The Company has commissioned a fully integrated state-of-the-art API research, formulation development and manufacturing facility and has successfully rolled-out over 10 unique first-to-market products in India. In FY 2013, the GTB + P2P business grew by 49%.

The Company also consolidated its position as one of the leading suppliers of Anti-TB products to the World Health Organisation's (WHO's) Global Drug Facility. Seven of the company's finished formulations and three Anti-TB APIs were pre-qualified by the WHO during FY 2013. Lupin is the only company to have both its APIs and formulations for TB products pre-qualified by the WHO globally. Lupin's institutional Anti-TB business grew by 40% during FY 2013. The Company stands committed to be a responsible partner in managing the prevention and treatment of tuberculosis in close collaboration with various healthcare institutions.

Products Category Pharmacopoeia
Cephalexin Cephalosporin* BP/EP/USP/IP
Cefaclor Cephalosporin* BP/EP/USP
Cefadroxil Cephalosporin* BP/EP/USP/IP
Cefprozil Cephalosporin* USP
Rifaximin Non Systemic Gastro-Intestinal EP
Ethambutol Anti-TB BP/EP/USP/IP
Pyrazinamide Anti-TB BP/EP/USP/IP
Rifampicin Anti-TB BP/EP/USP/IP
Rifabutin Anti-TB BP/EP/USP/In-house
Lisinopril Anti-hypertensive BP/EP/USP/IP
Simvastatin Anti-hyperlipidemic EP/USP
Prasugrel Anti-Thrombotic In-house
Levetiracetam Anti-convulsant USP
Lacosamide Anti-convulsant In-house
Eslicarbazepine  Acetate Anti-convulsant In-house
Rasagiline Mesylate Anti-parkinson In-house
Pregabalin Neuropathic Pain Agent In-house
Flupirtine Maleate   In-house
Febuxostat   In-house