Lupin sees further growth in third quarter of 2011-12

Lupin has reported strong double-digit growth for the third quarter of its 2011-12 business year.

The company's net sales total for the three months came to 17.92 billion rupees (230.36 million pounds), up by 21.9 percent on a year over year basis, with earnings and profits also experiencing growth.

Managing director Dr Kamal Sharma said: "We had a good quarter aided by strong operating performance, new launches and strong growth across the US, India and Japan."

US and Europe formulation sales accounted for 38 percent of consolidated revenues, with three US abbreviated new drug applications and four EU marketing authorisation applications having been filed.

Its American performance was particularly dominant, with 16 out of its 32 marketed generic products ranking number one by market share in the US.

This represents the company's 26th consecutive quarter of growth, which Dr Sharma has attributed to its steady stream of product approval and successful launches.