Lupin’s Q1FY21 revenue fell 9 per cent YoY to Rs 3,530 crore. This was dragged down by decline in US sales by 21.1 per cent YoY and 23 per cent QoQ to $157m (35 per cent of sales). Domestic Formulations (37 per cent of sales) was down 1.7 per cent YoY to Rs 1,290 crore. That apart, growth market sales (8 per cent of sales) declined 5.8 per cent YoY to Rs 270 crore. EMEA sales, too, fell 4 per cent YoY to Rs 250 crore (7 per cent of sales), and RoW sales were down 46% YoY to Rs 38.3 crore.
Lupin’s Global API sales for Q1FY21 were Rs 409 crore, compared to sales of Rs 328.6 crore during Q4FY20 and up 17 per cent compared to sales of Rs 348.9 crore during Q1FY20, accounting for 12 per cent of Lupin’s global sales.
The Company filed 4 ANDAs during the quarter and received 4 ANDA approvals from the US FDA. Furthermore, the Company launched 2 products during the quarter in the US market. The Company now has 175 products in the US generics market, it said in its statement.
Lupin is now the market leader in 62 products in the US generics market and amongst the Top 3 in 126 of its marketed products (market share by prescriptions, IQVIA June 2020).
At 10:14 am, the stock was 5 per cent lower on the BSE, at Rs 889, as againt 0.05 per cent dip in the S&P BSE Sensex.