MUMBAI, Oct 30 (Reuters) - India's Lupin Ltd expects a pickup in sales in India and growing demand for itsbranded drugs in the United States to boost growth in thecurrent fiscal year, its chief executive said on Wednesday.
The company, India's No. 3 pharmaceutical company by marketvalue, sees its India business growing by 18-20 percent by theend of this fiscal year in March, Vinita Gupta told Reuters. Thedrugmaker posted a 40 percent rise in quarterly profit.
Lupin's sales in India, which accounts for 25 percent of itsbusiness, grew 9 percent in July-September from the year-agoperiod. Sales had fallen in the June quarter due to a newgovernment drug pricing policy.
Under the policy, the prices of 348 drugs deemed essentialare being regulated, compared with 74 previously. The move hascurbed prices in a market where drug prices have already hitrock-bottom due to a large generics industry.
Lupin sees its branded drugs business in the United States,which brought in 10 percent of total U.S. sales in the Septemberquarter, accounting for 10-15 percent of sales in its largestmarket in the next two quarters, Gupta said.
"In the U.S., we have a significant pipeline in place andmore exclusive products that would come to the market over thenext couple of years, including in the next couple of quarterswe have some good opportunities," she said.
"Looking forward to grow our brand business over the nexttwo quarters."
Lupin also plans to launch new products in December inJapan, its third-largest market accounting for 12 percent ofsales, which are expected to add to revenue growth in theremaining two quarters of this fiscal year.
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