Lupin targets to acquire domestic firms this time

Homegrown drug major Lupin is looking to acquire companies and launch new products in the domestic market as it aims to scale up its Indian operations.

The Mumbai-based firm, which is the fifth largest generic player in the US market, has so far stayed away from inorganic growth in India where it clocked revenues of Rs 2,479 crore in the previous fiscal. The company is looking at ramping up its India business, with new product launches aided by strategic in-licensing alliances, Lupin Group President Shakti Chakraborty said. He added: "The company is also looking at acquisitions within the market which Lupin hasn't done so far in India."

Growth in various therapeutic segments including dermatology and oncology could be fuelled in the domestic market by acquisitions and alliances, he said.

"While Lupin is strengthening its leadership credentials in cardiovascular, diabetes, respiratory segments the growth in niche segments like dermatology, ophthalmology and oncology could be fuelled by such arrangements be it in-licensing, alliances or outright acquisitions," Chakraborty said.