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Lupin Limited (NSE:EQLUPIN) |
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Lupin Limited is amongst the top six pharmaceutical companies in India in terms of revenue.[1]The Company is the world’s largest manufacturer of Tuberculosis drugs.[2]
Business Overview
Headquartered in Mumbai, India Lupin Limited is a transnational pharmaceutical company producing generic and branded formulations and Active Pharmaceutical Ingredients(APIs)[1]The Company has secured global leadership position in Anti-TB and Cephalosporins and has a significant presence in the areas of Cardiovasculars (prils and statins), Diabetology, Asthma and NSAIDs(Non-steroidal anti-inflammatory drugs)[1]
Business and Financial Metrics
Lupin Limited BOD today(26/10/2010) announced in their office an increase in their working capital for the Q2,amounting to a profitability of Rs.350 Crore in the next month.The news is due to release in the market today around 3.00 pm.[1]
Share holding pattern:
| Entity | Percentage |
|---|---|
| Indian Promoters | 43.70% |
| Foreign Promoters | 15.91% |
| FII's | 16.16% |
| General Public | 9.22% |
| Banks Fin. Inst. and Insurance | 10.5% |
| Private Corporate Bodies | 1.48% |
| NRI's/OCB's/Foreign Others | 2.90% |
| Others | 0.13% |
Business Segments
Formulations Active Pharamceutical Ingredients and Intermediates ROCE is comparable to the best in the segment at 69%,revised lately.[6]
Key Trends and Forces
Lupin Limited BOD today(26/10/2010) announced in their office an increase in their working capital for the Q2,amounting to a profitability of Rs.350 Crore in the next month.The news is due to release in the market today around 3.00 pm.The BOD plans to raise the dividend,due to reinvestment by the old FII's and also planning to issue covertable debentures.
September 2011: Opportunities ahead in the US market, viz.: 1) Fortamet (US$85m): LUPN is FTF, has final approval & is evaluating launch options; 2) Femcon Fe (OC, US$65m): AG launch in Sep’11, post Teva’s exclusivity; 3) Geodon (US$800m): Shared FTF opportunity with 2 other players, Mar ’12 launch; 4) some OC approvals in 3Q/4Q.
Competition
The pharmaceutical industry is characterized by rapid advances in scientific knowledge and ability to discover new drugs.The industry is therefore led by large manufacturers and marketers of drugs investing heavily in research & development, having clinical testing, marketing and distributing capabilities[7].Some of the main competitors of Lupin are:
- Sun Pharamceuticals Industires - It is No. 1 in India in speciality therapy areas like psychiatry, neurology, cardiology, gastroenterology, diabetology and respiratory.[8].It has brands in 30 markets worldwide and also has a generic presence in the U.S. with Caraco Pharm Labs, Sun Pharmaceutical Industries Inc (subsidiary)[8]
- Cipla - Cipla is a leader in the domestic retail pharmaceutical market.[9]It also exports raw materials, intermediates, prescription drugs, over-the-counter products, and veterinary products to some 180 countries around the world.[9]
- GlaxoSmithKline - It is one of the oldest pharma companies in India and with a turnover of Rs. 1500 crore is one of the market leaders(market share) in India with a share of 6.2 per cent[10]Its main portfolios consists of anti- infectives, dermatologicals and pain management drugs[11]
- Dr. Reddy's Laboratories - It is a global pharmaceutical company with it's headquarters in India and a presence in more than 100 countries.[12]In India it the biggest drug maker by sales[13]
Comparison with the competitors:
| Financial metrics FY2008[14] | ||||
|---|---|---|---|---|
| Name | Yr Ended | Market Capitalization in Rs Cr | Sales Turnover in Rs Cr | Net Profit in Rs Cr |
| Lupin | Mar '08 | 6,473.42 | 2,661.62 | 443.38 |
| Sun Pharma | Mar '08 | 26,975.87 | 2,427.35 | 1,014.04 |
| Cipla | Mar '08 | 17,947.66 | 4,293.95 | 701.43 |
| GlaxoSmithKline | Dec '07 | 9,992.41 | 1,762.64 | 576.57 |
| Dr Reddys Labs | Mar '08 | 9,662.53 | 3,428.40 | 475.22 |
Market Share on the basis of Retail Sales Due to high level of fragmentation none of the Pharma Companies had more than 6% of the total market on the basis of the total retail sales.[15]
References
- ↑ 1.0 1.1 1.2 1.3 Lupin Q4 &FY0809 Results May 13, 2009
- ↑ Lupin Limited/ Business Overview/ Business Mix
- ↑ Lupin Limited Annual Report 2008-Five years at a glance
- ↑ Lupin Limited share holding pattern, rediff Money wiz
- ↑ Lupin Limited Annual Report 2007-08 pg. 6
- ↑ Lupin World/Investor Presentation/May 2009
- ↑ Hoovers/Pharma Industry Profile
- ↑ 8.0 8.1 Sun Pharma Industries
- ↑ 9.0 9.1 YahooFinance Cipla
- ↑ GlaxoSmithKline website
- ↑ Business Standard/ORG-IMS report
- ↑ Dr.Reddys Labs/Company Profile
- ↑ Business Standard/ Dr. Reddy's Labs
- ↑ Money Control Lupin Competition
- ↑ 15.0 15.1 Info.Shine/Industry Information/Pharmaceuticals
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