Mumbai-based drugmaker Lupin Pharmaceuticals is not going to let currency fluctuations stand in the way of its growth plans for emerging markets and remains committed to acquiring specialty products for growth in the future, according to a report in the Business Standard. The company's managing director, Nilesh Gupta, said in the report that Lupin is expanding in the Americas with its acquisition of Medquimica in Brazil last year and is expanding its Mexican business. The company said growth in Latin America and places like the Philippines added 6.8% to its bottom line and South Africa was also contributing 3%. Lupin and Merck Serono entered in a JV in 2014 to work in emerging markets and Gupta said in the report the company would also rely on "acquisitions of both products and companies in the specialty product segment" to hit $5 billion in revenue by 2018. Lupin this week announced that as part of its $850 million acquisition of Gavis in the United States, the company will offload two generic drugs and the acquisition will help it achieve "double-digit growth" in the U.S., Gupta said in the report. He added that Lupin is also expanding into Japan with the addition of a plant there and is setting up another plant in Goa, India, to work directly with the Japanese market. Report
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