pharmacy of the world," its pharmaceutical giants are not just keeping pace—they're setting the pace. With the industry projected to leap from a value of $40 billion in 2021 to $130 billion by 2030, the stage is set for unprecedented growth. But as these companies scale new heights, they must also navigate a complex landscape of regulatory hurdles, global competition, and supply chain risks.
The Indian pharmaceutical industry has undergone a seismic transformation, evolving from a nascent sector into a global powerhouse. Today, India supplies 60% of the world's vaccines, 40% of the generic demand in the US, and 25% of the UK's medicines. This dominance is fuelled by cost competitiveness, a supportive government framework, and a global population increasingly aware of health and aging concerns.
Lupin Ltd: Homegrown pharmaceutical major Lupin has delivered strong financial results. In the June 2024 quarter, Lupin reported a 16% year-on-year (YoY) revenue growth, reaching ₹55.1 billion. The company’s US sales surged by 25% YoY to ₹19 billion, primarily driven by new product launches.
In India, Lupin outpaced the market with an 18% YoY growth, significantly exceeding the Indian Pharmaceutical Market (IPM) growth rate of 8.7%. Additionally, the company recorded strong double-digit growth in developed markets like Canada and the UK, fuelled by its expanding product portfolio. On the profitability front, Lupin's bottom line saw an impressive 79% YoY increase, reaching ₹8.1 billion.
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