Shaky Q1 For Lupin But Upbeat On FDA Generics Reform, Biosimilars
Lupin reported a weak first quarter, but the management sees "tremendous upside" in opportunities arising from the US FDA’s recent initiatives to encourage generic competition. A build-up also appears on the cards for biosimilars, where the company now has a “financing partner” for a project.
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Pricing pressure in the US continued to hurt Lupin, denting its Q2 earnings, with the company’s management suggesting that manufacturers, both US and Indian, could be nearing their “pain point”. CEO Vinita Gupta also maintained that a potential entry of Amazon into the pharmacy business could be “real positive” for the generic industry.
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