During FY 2011, the Companyís formulations business in Europe recorded a growth of 44% reporting revenues of USD 41 million as compared to USD 28 million during FY 2010.
Over the last 4 years, we have invested in building a differentiated product pipeline encompassing Anti-infectives, Cardiovascular and CNS therapy products. Having established its presence across select EU markets through unique localised direct-to-market initiatives, judicious acquisitions and partnerships, the company is today well placed to address the unique demands of the fragmented and diverse EU market.
This was a record year for the Company in terms of product filings with European Authorities. Lupin filed 33 MAAs across Europe. Total cumulative product filings with EU authorities now stands at 91, with 44 total approvals.
It was an exciting year for us in the French pharmaceutical market as we made rapid and incisive inroads with new product launches and increased filings with the French authorities. Having built a strong presence with successful trade partnerships, the Company is looking to ramp up its presence in the market by introducing new products and therapy segments. The company has filed 14 MAAs with regulatory authorities and received 12 approvals till date. Lupin continues to garner increased market share with its CefpodoximeProxetil tablets and CefpodoximeProxetil suspension. The strong performance in France was backed by the launch of Trimetazidine, where Lupin was the first to get approval. The company also launched Clarithromycin XL in France during the third quarter of FY 2011.
Lupinís subsidiary, HormosanPharma GmbH (Hormosan) is our primary growth driver in the German market. With Germany transitioning to a substitution-driven market, the Company has sharpened its focus on tapping into the right Generic opportunities and specialty pharmaceutical products.
Lupinís Business in the UK is a direct-to-market initiative. The company is now looking to introduce value-added products into the UK and has built a strong pipeline of 20 MAAs with the UK authorities.
Lupin is well aware of the opportunities and the challenges that lie ahead in maintaining and sustaining its current growth trajectory in US & Europe. The Company will continue to focus on identifying and entering niche segments, developing a differentiated product portfolio, successfully challenging and litigating the right opportunities and also rely on its ability to garner greater market share in existing in-market products. We would also continue to build our Brands Business in the US by entering new therapy segments and adding to our product portfolio. We are working hard on creating the right manufacturing capacities and facilities while ensuring adherence to the most stringent quality standards to meet market expectations. The goal is to be the best in terms of the quality of our business in the US & Europe. That is Being Lupin.
For more information: www.hormosan.de