Lupin Limited total revenue from operations in Q2 FY 2023 reached Rs. 4,145.5 crore in comparison to Rs. 4,091.3 crore in Q2 FY2022.  

Commenting on the results, Nilesh Gupta, Managing Director, Lupin Limited said, “We have performed in line with our expectations during the quarter, and are on the path of steady growth in sales and profitability. Our sales growth sequentially was robust as our US business bounced back. Our India business delivered continued growth in line with the market, excluding the impact of loss of exclusivity and certain sales in the diabetes and cardiovascular therapy area. All other geographies performed well, and we continue to see the benefit of our optimization measures implemented. We are focused on sustaining this positive momentum, driving improvement in sales and margins, and committed to maintain the highest standards of compliance.”

North America sales for Q2 FY2023 were Rs. 1,329.5 crore accounting for 33% of Lupin’s global sales. The company filed 8 ANDAs in the quarter, received 4 ANDA approvals from the USFDA, and launched 3 products in the quarter in the US. The company now has 168 generic products in the US.

India formulation sales for Q2 FY2023 were Rs. 1,584.1 crore accounting for 39% of Lupin’s global sales. India Region Formulations sales grew by 5% as compared to Q2 FY2022. The company launched 6 brands across therapies during the quarter.

Growth Markets registered sales of Rs. 444.9 crore for Q2 FY2023 accounting for 11% of Lupin’s global sales. EMEA sales for Q2 FY2023 were Rs. 384.2 crore accounting for 9% of Lupin’s global sales.

Global API Sales for Q2 FY2023 were Rs. 249.9 crore accounting for 6% of Lupin’s global sales.

Investment in R&D was Rs. 337.6 crore (8.3% of sales) for Q2 FY2023 as compared to Rs. 330 crore (8.2% of sales) for Q2 FY2022. Cumulative ANDA filings with the USFDA stand at 467 as of Sept 30, 2022, with the company having received 305 approvals to date. The company now has 54 First-to-File (FTF) filings including 20 exclusive FTF opportunities. Cumulative US DMF filings stand at 170 as of Sept 30, 2022.