Lupin Q2 net up 40 percent to Rs.406 crore

Mumbai, Oct 30 (IANS) Drug maker Lupin saw its consolidated net profit rising 39.8 percent in the second quarter to Rs.406.20 crore, driven by other income, despite higher tax rate.

Consolidated revenue of the company grew 16 percent year-on-year (Y-o-Y) to Rs.2,668 crore in quarter ended September 2013, supported by formulations business and strong growth US, Europe and Africa, the company said in a release.

"Despite challenges in markets like India, we have had a good first half, driven by strong business growth from markets like US and improved operational efficiencies... This consistent performance has led to a sustained EBIDTA and PAT improvement," Nilesh Gupta, managing director, said.

Consolidated earnings before interest, tax, depreciation and amortisation (EBITDA) climbed 27.9 percent Y-o-Y to Rs.660 crore and operating profit margin expanded 230 basis points Y-o-Y to 24.7 percent in the quarter gone by.

Formulations business of the company grew 17 percent while Active pharmaceutical ingredient or API (drug raw material) shot up 20 percent Y-o-Y.

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Lupin gets US regulator approval for cholesterol drug

Mumbai, Oct 22 (IANS) Pharma major Lupin Tuesday announced it has received final approval for marketing additional strengths of cholesterol-lowering drug Antara capsules in the American market.

The company has received final approval for its supplemental New Drug Application (sNDA) for Antara (Fenofibrate) capsules in 30 mg and 90 mg strengths from the US Food and Drug Administration (USFDA).

"The approval demonstrates Lupin's commitment to building its brand franchise in the US," said Vinita Gupta, chief executive officer.

Lupin Pharmaceuticals Inc., the company's US subsidiary, would commence marketing the product shortly, the company said in a statement.

LPI currently markets Antara capsules in strengths of 43 mg and 130 mg in the US market.

The new drug would be manufactured by Lupin.

Antara capsules are prescribed for treatment of high blood cholesterol, mixed dyslipidemia and high triglycerides in combination with diet.

As per the IMS MAT June 2013 data, the market in the US for fenofibrate is valued close to $1.5 billion.

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