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Lupin's Metformin US Outlook Stays Sunny; Russian Buy Under Review

 
• By Anju Ghangurde

Lupin reported a strong set of numbers for the first quarter ended June and expects US sales of its generic version of Glumetza (metformin HCL extended-release tablets) to stay a key contributor despite imminent competition from Sun Pharma, among others. The Indian firm, though, appears to be re-evaluating its Russian acquisition.

Lupin Ltd. reported a 40% jump in net sales to INR43.13bn ($645.3m) for the first quarter of fiscal year 2017, buoyed by robust growth across its key markets – the US, India and Japan. Net profits for the quarter were up 55.1% to INR8.82bn.

Sales in North America spurted 82.3% to INR21

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