Drug companies in India's leading industrial state of Gujarat, the base of Prime Minister Narendra Modi, are stepping up efforts to crack the domestic market for biosimilars as well as abroad, Business Standard reports.
India's Cipla and Lupin made first-round bids for the U.S. generics business of Belgium's UCB, Kremers Urban Pharmaceuticals, according to sources cited by Bloomberg, showing that domestic players are eagerly looking abroad to boost sales.
After having to call off a $1.5 billion deal last year to sell its U.S.-based generics business, Belgium's UCB has new bidders for the unit that reportedly includes India's Cipla and Lupin.
Belgium's UCB has a generics operation in the U.S. with a 400,000-square-foot-manufacturing facility that it has been trying since last year to unload, and India's Cipla and Lupin are both reportedly in the running to buy it.
Since Lupin issued disappointing earnings reports to the India stock market the past three quarters, it feels the need to go out and buy the sales it needs to please investors. It plans to do so by acquiring enough other companies to add $1 billion to its sales revenues and make Lupin a $5 billion drug maker within three years.
India's Lupin worked a license deal with Romark Laboratories a couple of years ago to handle sales in the U.S. of liquid diarrhea treatment Alina in the U.S., relying on its reps who handle sales of pediatric drugs. But some recent batches of the drug, often prescribed for children, are not up to specification, and so Romark is recalling them.
Continuing to spread its wings, India's Lupin now has a toehold in the Brazil market by buying Medquímica Indústria Farmacêutica, producer of branded, generic and over-the-counter drugs.
India's Lupin launched a generic drug tablet in the U.S. combining hypertension drugs Amlodipine and Valsartan tablets.The drug is a generic version of Novartis AG's Exforge tablets, Lupin said.
Shasun Pharmaceuticals stockholders gave their near-unanimous approval to a merger with Strides Arcolab, and Lupin said it would buy out all of South Africa's Pharma Dynamics.
Lupin expected to introduce 15 to 20 new products to the U.S. market this year, but that was before the announcement today that the FDA had found shortcomings at one of its key plants in India.