Drugmaker Lupin plans to focus on smaller towns and newer product segments in order to maintain its current growth rate, if not grow any faster.
“We have been growing at 20% annually. The various happenings with respect to the pharma policy could mute growth. However , we will work towards maintaining a 20% rate, ” said Shakti Chakraborty, group president, India region formulations.
The overall India pharma market is growing at an average 13-14% per year.
Lupin gets around 28% of its total turnover, which stood at Rs7, 100 crore last fiscal, from the domestic market.
Traditionally, therapeutic segments like diabetes, cardiology, neurology, nephrology have been key areas for Lupin domestically.
To further expand its presence, the company will focus on dermatology, orthopaedics, and gastroenterology in the future, said Chakraborty. “We will look at these areas in a serious manner. ”
“In dermatology, we will bring out a portfolio of around 12 products in the next few months, ” he said.
The company plans to launch products for skin ailments like psoriasis, eczema, vitiligo, as well as cosmetology products by April. “Once the regulatory approvals are through, we will launch them in phases of four to five products, ” said Chakraborty.
Come January and Lupin will also launch a separate division which would be focused on Tier III and IV towns “basically, to penetrate the lower-end markets where we can target all the non-MBBS medical practitioners who also have huge practices in the non-metroes, ” said Chakraborty.
Bigger rivals such as Sanofi Aventis, Novartis and Ranbaxy have already started specific initiatives to increase sales in rural and semi-urban India.
Going forward, to help expand its reach, Lupin will add 150-200 people to its field force of 4, 800 medical representatives, said Chakraborty.