October 22, 2018
The move is backed by the acceptance of Brazilian drug standards in most neighbouring nations and is likely to be implemented from next year
Over the coming five years, Lupin expects to double its sales in Latin America, which currently represents 4 per cent of total global revenue
The company presently exports from India and Mexico, and its markets in Latin America includes Chile, Colombia, Cuba, Peru, and Venezuela
Pharma exports from India stood at US$17.3 billion in 2017-18 and are expected to cross US$19 billion in 2018-19 on back of growing demand
Lupin Ltd, an Indian pharmaceutical company, is looking to boost its manufacturing operations in Brazil to cater to Latin American market, according to a report by Business Standard on October 22, citing the chief of the company’s Latin America business, Martin Mercer. The move is backed by the acceptance of Brazilian drug regulation standards in most neighbouring nations and is likely to be implemented from next year. With additional export from Brazil, over the coming five years, Lupin hopes to double its sales in Latin America which currently represents 4 per cent of total global revenue.
The company presently exports from India and Mexico, and its markets in Latin America includes Chile, Colombia, Cuba, Dominican Republic, Haiti, Guatemala, Honduras, Panama, Peru, and Venezuela. As part of its overhaul of Brazilian operation, Lupin will expand automation on production floor which will raise capacity considerably from the current 200 million tablets/month. With increased local output, Lupin will be better placed to tackle the impact of exchange rate fluctuations, deal more effectively with regional governmental regulations as well as make the most of local market opportunities.
Presently, India is the largest provider of generic drugs globally – supplying 50 per cent of vaccines and meeting over 40 per cent of the US demand for generics. In addition, it supplies about 25 per cent of all medicines in the UK. The pharmaceutical sector was valued at US$33 billion in 2017 and is expected to grow over 2015–20 to reach US$55 billion. Meanwhile, pharmaceutical exports stood at US$17.3 billion in 2017-18 and are expected to cross US$19 billion in 2018-19. Leading Indian pharma producers include Sun Pharmaceuticals, Lupin, Dr Reddy’s Laboratories, Cipla and Torrent Pharmaceuticals.