The Australian Generics industry is around USD 1.5 billion, growing at approximately 8%. The total Australian Pharmaceutical market is valued at USD 12.5 billion. The Australian market is of strategic importance and very lucrative with key molecules going off patent, a rapidly expanding OTC market, active generic substitution by pharmacists and the National Health Insurance coverage program.
The Company's Australian subsidiary, Generic Health Pte. Ltd. (GH), undertook various strategic initiatives during the year, which would go a long way in creating a strong base for the future. The company strengthened its OTC sales and marketing team by increasing the team size from 6 to 15 personnel. Lupin acquired the worldwide marketing rights to the 'Goanna' brand. Goanna is an over 100 year old, well established brand in Australia in the pain management segment. With this acquisition, the Company increased its reach to about 80% of the pharmacies in Australia as compared to 30% earlier. This also marked the beginning of GH's foray into the lucrative OTC segment. To strengthen and augment the OTC portfolio, GH launched 25 additional products under its 'Pharmacy Action' brand. GH also forayed into the oral contraceptive market by launching “Isabelle”, the first and only generic of Drosperinone + Ethinyl Estradiol. The company also made its presence felt when post lifting of an injunction on Venlafaxine XR by Australian courts, GH's product was first to reach the market.
In FY 2012, Generic Health registered a business growth of 105% over the previous year. Furthermore, Lupin received 2 products approvals and filed 5 dossiers for the Australian market.