Valued at USD 2.8 billion, and growing at 3.3%, the Philippines Pharmaceutical market experienced a slower growth rate in FY 2011 following implementation of Maximum Drug Retail Price (MDRP) regulations for several new molecules. Lupinís Philippines subsidiary, Multicare Pharmaceuticals is a premium branded generics company with a strong presence in the Female Health and Childcare segments. In FY 2011, Multicare recorded revenues of Philippine Peso 409 million (`418 million) registering a healthy growth of 25% against the modest industry growth rate of 3.3%. As per IMS it also emerged as the 3rd fastest growing pharmaceutical company amongst the Top 40 in the Philippines pharmaceutical industry. Multicareís business has grown by about 40% since Lupin acquired it two years ago.
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