Lupin’s revenue driven by overseas business
Hit by intense competition in its domestic Indian market
Mumbai-based drug maker Lupin has said that its overseas business was responsible for a 20% rise in consolidated third quarter revenue. Its India business grew by just 2% in the same period.
After a strong third quarter performance, Lupin failed to maintain the growth momentum in India, because of intense competition in the domestic market, and poor growth in the company's India business.
Excluding India, the growth in Lupin's other business segments was strong: its US business, which accounts for almost half of its consolidated revenue, grew by 28% from a year ago, while its Japanese business, which had been posting poor growth in the earlier quarters of FY14, saw its revenue rise by 17%.
