Generic Glumetza Scripts Lupin's Strong US Run
Lupin Ltd. has reported stellar numbers for the fourth quarter ended March 2016, buoyed by US sales of its generic version of Glumetza (metformin HCL extended-release tablets), the Valeant Pharmaceuticals International Inc. drug dumped earlier this year by pharmacy benefits manager, Express Scripts Holding Co.
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Lupin reported a sharp decline in its fourth quarter profits, dented by heightened price pressure and competition in the US for its key products. The management sees a ‘challenging’ 2018, but underscored the strength of the firm’s ANDA pipeline and enhanced investments in the biosimilars, inhalation and injectables space.
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.
First-quarter results of frontline Indian firms are expected to be a mixed bag as some are boosted by launches of products with marketing exclusivity in the US, while others are weighed down by increased competition and pricing erosion in the base business. Updates on compliance efforts at facilities and evolving regulations in India – the ban on certain fixed-dose combinations and controversial pricing orders – are other key issues to look out for.