Strengthen Leadership in Key Markets
We are poised to extend our leadership in key markets, India and the U.S., through a comprehensive strategy that fuels growth, innovation, and portfolio evolution in complex generics.
In India, we aim to outpace the market by strategically expanding our presence by adding >1,300 sales force in existing therapeutic areas while exploring newer domains and bringing our sales force to >9,100. Our steadfast focus on chronic therapies, which contribute 62.5% of our domestic branded formulation revenues, has laid the foundation for substantial growth in areas like Cardiovascular, Diabetes, and Respiratory treatments. Furthermore, we are diversifying our portfolio in segments like Gynecology, Dermatology, Urology, and Pediatric segments to cater to a wider patient base.
We are making significant strides in adjacencies such as Diagnostics, Digital Therapeutics solutions, and Neuro-rehabilitation. These adjacencies complement our core business and offer us a competitive edge in delivering holistic healthcare solutions.
In the U.S., where we already ranked as the third-largest generic company by units and a key supplier of oral solid dosage forms, our strategic vision now focuses on complex generics, most of which would be first-to-market launches, including biosimilars. This transformation reflects our commitment to innovation and meeting evolving patient and healthcare provider demands, positioning us to strengthen our market position.
In the EMEA region, we are dedicated to strengthening our leadership position and maximizing growth opportunities in Respiratory and Neurology segment. Our efforts are focused to launch more inhalation products, expand NaMuscla to cater unmet needs in treating Dystrophic Myotonia.
Our established businesses in key markets such as Australia, Brazil, Canada, Mexico, the Philippines, and South Africa will continue to thrive. Our focus is on sustainable growth, driven by a differentiated portfolio, enhanced profitability through market share gains, new product launches, and cost optimization initiatives.
Expand Basket of Complex Generics for U.S. and Other Markets
We are creating complex generics platforms in inhalation, injectables and biosimilars to expand our basket of first-to-market opportunities and increase our offerings on complex dosage forms beyond oral solids. By venturing into these domains, we aim to increase affordability and generate savings for the respective payers, capture new market share, address unmet medical needs, and maximize value creation.
Inhalation: We are one of the few companies worldwide to obtain approval for generic versions of both Dry Powder Inhaler (DPI) and Metered Dose Inhaler (MDI) in the U.S. and EU markets, demonstrating our pioneering advancements. We have filed multiple inhalation products and are actively developing an expansive pipeline. We are also bringing our inhalation portfolio to meaningful markets such as the EU and the U.K., unlocking new frontiers of growth and impact.
Injectables: We have multiple complex injectables under development, with one already filed and another in the late clinical phase. We are accelerating our pace of filing, approval, and launching these injectables products, aligning with the growing demand for critical therapeutic categories.
Biosimilars: We have a long runway of growth for biosimilars, with a focus on key geographies like the U.S. and the EU. We have already made significant strides with biosimilar Etanercept in Japan and Europe, and we see immense potential for further expansion. Additionally, we have filed a biosimilar version of Pegfilgrastim in the U.S., anticipate approval. Our commitment to biosimilars remains strong, as we continue to develop an extensive pipeline of innovative and life-changing treatments.
Continue to Prioritize Regulatory Compliance
Lupin maintains a steadfast commitment to regulatory compliance across our global facilities. Adhering to GMP standards, our sites hold accreditations from esteemed regulatory authorities such as U.S.FDA, UK MHRA, WHO and Japanese PMDA.
In FY23, we continued to successfully face multiple inspections by various authorities and received satisfactory compliance status for three of our sites.
Our goal is to achieve world-class standards in quality and compliance, driving our continuous improvement efforts to bring out the remaining two units currently under OAI.
Excellence in Execution
We are committed to enhancing the efficiency and productivity of our R&D and manufacturing network through targeted optimization initiatives across markets, thereby unlocking further efficiencies.
Operational Effectiveness: We drive resource excellence across manpower productivity, sales force and procurement excellence. We shall optimize capital expenditure and R&D spends to leverage our portfolio across markets.
Digital Transformation: Our digital transformation journey has evolved from support services to leverage data analytics that enable informed decision making and ensure operational agility.
Our unwavering focus on execution excellence empowers us to streamline operations, maximize productivity, and unlock long-term value.
Building a Sustainable Future
Lupin’s commitment to building a sustainable future through People, Products, business Paradigm and Processes is at the core of our long-term value creation strategy. In FY23, we made significant strides in our ESG agenda, setting the stage for transformative initiatives that lie ahead.
People: Upholding human rights and fostering employee engagement are paramount to our sustainable future. We conducted a comprehensive Human Rights Assessment across Lupin sites, ensuring that our operations uphold the highest ethical standards.
Products: We continued our efforts to improve access to healthcare by increasing registrations for anti-TB and ARV medicines in low-middle-income countries. We also focused on developing innovative and affordable products that address unmet medical needs and enhance patient outcomes.
Business Paradigm: We strengthened our ESG framework through a meticulous double materiality assessment, allowing us to focus on key areas that drive both business and societal value.
Recognizing the importance of responsible business conduct, we joined the esteemed United Nations Global Compact (UNGC), reaffirming our commitment to ethical practices.
Processes: We completed a comprehensive Scope 3 GHG assessment, furthering our understanding of our carbon footprint. To drive cleaner energy practices, we are expanding our renewable capacity by over 22 MW to bring total capacity to over 36 MW in FY24. This substantial investment underscores our dedication to reducing our carbon emissions and embracing sustainable energy sources. Furthermore, we implemented a robust supplier assessment framework to evaluate the sustainability practices of our third-party suppliers, ensuring alignment with our ESG values.
We remain dedicated to enhancing our targets, implementing effective tracking mechanisms, and realigning internal practices towards a sustainable future.
Assurance Statement