Lupin plans to grow its specialty medicines business as part of its long-term strategy beyond generics, said Ramesh Swaminathan, Executive Director and Global CFO of the company.

Swaminathan said the shift is natural for Indian pharma. “It’s basically a question of evolution,” he noted, adding that Indian companies began with generics and now want IP-driven products. Lupin supplies to the US, Europe and emerging markets, and sees opportunities in multiple regions.

Currently, specialty products contribute around $80 million to Lupin’s revenue. The company expects this to rise as its ophthalmology business expands. Its VISUfarma acquisition is expected to close in December and add momentum.

There has been market speculation about Lupin studying a potential deal for Vitabiotics in the UK

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