Drugmaker Lupin expects to see an increase in its research spends over the next couple of quarters, with investments in research and development touching ₹1,800 crore for FY2025, said Vinita Gupta, Chief Executive Officer of the company.
This would include investment towards an increasing percentage of complex generics and biosimilars, she said in an analyst call on Wednesday, outlining the growth path for the company. Recently, the company had said it had completed advanced Phase III global clinical trials on its biosimilar version of opthalmology product Lucentis (from Roche), with the intent to take it to European and American markets. In fact, Vinita saw the opthalmology product as a “unique opportunity”, even if it was a late player in the segment.
The company’s research spend was ₹350 crore (6.3 per cent of sales) for the first quarter that ended on June 30, 2025, compared to ₹367 crore (7.8 per cent of sales) for Q1 FY2024. It had ended the FY 2024 with an R&D investment of ₹1,526 crore (7.8 per cent of sales). With cash on its books, Ramesh Swaminathan, Lupin Executive Director and Global Chief Financial Officer said, the company did “believe in acquisitions”, especially in the speciality products segment.
Revenue in Q1
Lupin had clocked revenue of ₹5,514 crore in Q1, up 16.2 per cent from ₹4,742 crore in the same period last year. It’s profit after tax stood at ₹801 crore for the period under review, up 77 per cent from per cent ₹452 crore in the corresponding period last year.
Nilesh Gupta, Lupin Managing Director, said the strong quarter was “on the back of the momentum we built through FY24, with performance driven by new products, key geographies, and improvement in our operating margin and profitability. We are on track for strong, sustainable growth and margin improvement backed by growth in sales, commercial and operating efficiencies, and a strong compliance story.”
Lupin’s North America Q1 FY25 sales stood at ₹2,040 crore, up 7.4 percent; accounting for 37 per cent of Lupin’s global sales. The company had launched three products in the quarter in the US and had 161 generics products in total. Its India formulation sales for the period under review stood at ₹1,925 crore, up 20.3 per cent compared to ₹1,601 crore in the same period last year. This accounted for 35 per cent of Lupin’s global sales.