Key Highlights
- Net sales for the quarter ended December’08 33% to Rs 961.84 crore and other income from operation declined by 84% to Rs 21.84 crore restricting total income from operation to grew by 15% to Rs 983.68 crore.
- International market stood at Rs 650.50 crore (or 67% of total sales) and domestic market clocked Rs 321.40 crore (or 33% of total sales) for the quarter ended December’08.
- For the quarter under review, Formulation business revenue is at Rs 822.70 crore and API revenues at Rs 149.20 crore.
- Net profit for the quarter under review, declined by 36% to Rs 116.50 crore.
- Lupin achieved market leadership in 7 of the 20 products in the US market.
- Company settled all ongoing Hatch-waxman litigation relating to Desloratadine tablets. As per the terms of the settlement Lupin will be licensed under the relevant Desloratadine patents, and free to commercially launch its generic Desloratadine product.
- Lupin consolidated its market position in Europe by completing its acquisition of Hormosan Pharma GmbH.
- Company has received information on the results of the Allgemeine Ortskrankenkassen (AOK) Tender. Hormosan has been offered 1 products in all 5 regions of Germany covering all AOK insured persons.
- Formulation revenues from emerging market including India reported a growth of 24% to Rs 323.60 crore in the quarter.
- Domestic formulation business in the third quarter registered gross sales of Rs 279.10 crore, an increase of 27% over corresponding previous period. The growth was driven by the good performance in the CVS, Diabetes, CNS, Asthma and Gastro segments.
- Company has maintained its leadership in Anti-TB segment and has secured a double digit market share in the anti asthma market.
- The rest of world reported sales of Rs 44.50 crore for third quarter recording a growth of 40%.
- Kyowa, the company’s subsidiary posted sales of Rs 131.90 crore, an increase of 21% over the corresponding previous period.
- Company filed 7 ANDAs (2 first to files) during the quarter, taking the cumulative ANDA filings total to 76.
- Four DMF filings have been made in the quarter, taking the total to 79 and company also filed 4 MAAs with the European regulatory authorities.
- Till Date Company has 8 first to files filed USPDA.
- Capex spend for Q3 FY’09 is Rs 90 crore
- Capex would be around USD 50 – 60 million for FY’09
- Expects R & D expenditure for the FY’09 is Rs 200 crore.
- Debt on the books as on 31st December’08, is Rs 900 crore
- Expects consolidated tax rate for the year around 14-15%.
- Company hedge 2-30% of forward covers for next 2 to 3 years.
- Company incurred forex loss of Rs 40 crore for Q3 FY’09 which was netted off from Sales.