Pricing pressure in the US continued to hurt Lupin, denting its Q2 earnings, with the company’s management suggesting that manufacturers, both US and Indian, could be nearing their “pain point”. CEO Vinita Gupta also maintained that a potential entry of Amazon into the pharmacy business could be “real positive” for the generic industry.
PRICING PRESSURE IN THE US CONTINUES TO HURT LUPIN'S EARNINGS
Ongoing pricing pressure in the US was behind Lupin Ltd.‘s 8% decline in sales to INR38.74bn ($595.6m) for the second quarter ended September, while net profits slid 31.3% to INR4.55bn.
US sales in the second quarter declined to $204m compared to $238m during the first quarter and $292m during the...
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