Homegrown drug major Lupin is looking to acquire companies and launch new products in the domestic market as it aims to scale up its Indian operations.

The Mumbai-based firm, which is the fifth largest generic player in the US market, has so far stayed away from inorganic growth in India where it clocked revenues of Rs 2,479 crore in the previous fiscal.

The company is looking at ramping up its India business, with new product launches aided by strategic in-licensing alliances, Lupin Group President Shakti Chakraborty told PTI.

He added: “The company is also looking at acquisitions within the market which Lupin hasn’t done so far in India.”

Growth in various therapeutic segments including dermatology and oncology could be fuelled in the domestic market by acquisitions and alliances, he said.

“While Lupin is strengthening its leadership credentials in cardiovascular, diabetes, respiratory segments the growth in niche segments like dermatology, ophthalmology and oncology could be fuelled by such arrangements be it in—licensing, alliances or outright acquisitions,” Chakraborty said.

He, however, did not share further details.

Commenting on the revenue growth of Indian business, he said the company is eyeing over 20 per cent growth in the current fiscal.

“Lupin’s India business has already clocked in revenues of over Rs 1,550 crore for the first 6 months H1, FY 2015 which is a growth of close to over 24—25 per cent as compared to last fiscal,” Chakraborty said.

At this rate domestic formulations revenues should cross 3,000 crore in sales this fiscal as compared to Rs 2,479 crore for FY 2013—14, he added.

Lupin’s Indian business sales accounted for 25 per cent of the company’s global revenues during second quarter of the current fiscal.

Net sales of Lupin in second quarter of the current fiscal rose to Rs 2,631.5 crore, up 17.51 per cent, from Rs 2,239.3 crore in the year— ago period.

Besides, the US and India, Lupin has strong presence in various global markets including Japan and South Africa.