Drug-maker Lupin said its medicine sales in the US and Europe grew by 60 per cent to Rs 1,082 crore in the three months ended December 31, 2012. This was against Rs 676 crore in the corresponding period the previous year.
Sales from the US and Europe contributed 44 per cent to the company’s overall consolidated revenues over the quarter. Lupin had launched five products in the US market in the quarter ended December and its revenues increased to $193 million, compared with $124 million the previous quarter — up 56 percent. However, Lupin’s Europe revenues dipped 7 percent in the same period. Lupin’s Japan Sales (Kyowa and I’rom) grew 48 per cent, clocking net sales of Rs 365 crore during the quarter, over Rs 246 crore in the corresponding previous period. Japan now contributes 15 per cent to Lupin’s consolidated revenues.
Revenues from drug sales in India contributed 23 per cent to Lupin’s overall revenues for the quarter. Its business grew 14 per cent, recording net revenues of Rs 570 crore, compared with Rs 501 crore in the similar previous period. Lupin also said its material costs had increased by 3 per cent to 37.9 per cent of net sales, at Rs 935 crore in the quarter.
Personnel costs declined 1.3 per cent to 12.8 per cent of net sales, at Rs 316 crore, during Q3. Its research spend stood at 9.7 per cent of net sales (Rs 238 crore) up from Rs 141 crore (7.9 per cent of net sales) in Q3 FY 2011-12.