Lupin Urged To ‘Put US In Order’ As It Slides To Annual Pre-Tax Loss
Analyst: ‘The US Has Not Contributed To EBITDA’
Lupin’s 2021/22 financial year results revealed weakness in its core US generics business amid challenging market conditions. The Indian firm will continue to throw its weight behind its domestic business while rebuilding the US operation with more complex, high-value launches.
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Looking to provide evidence of its extended measures to improve quality, compliance and oversight, Lupin has received positive news from the FDA for its US-based manufacturing facility in Somerset, New Jersey.
A generic version of Advair is high on Cipla’s plans for its current financial year ending in March 2023. Management discussed the high-value respiratory asset and the company’s further prospects during the Indian firm’s annual earnings call, which included the company passing $1bn in sales for its domestic branded prescription business.
Lupin has named a new head of compliance, emphasizing the importance of achieving the highest quality standards just weeks after the FDA notified the firm of observations following an inspection at its Indian facility in Tarapur.