Lupin Targets Complex Drugs To Drive Next Phase Of Growth, Plans Higher U.S. Manufacturing
Business Today · 06 Nov 2026 · 19 min
Management interview of Lupin Ltd (LUPIN), with 3 key numbers discussed.
- Ramesh Swaminathan, Executive Director and Global Chief Financial Officer, Lupin Limited
Lupin stated that Q2FY27 performance was in line with internal expectations as exclusivity ended on mirabegron and tolvaptan, leading to increased competition and margin shrinkage. The company is actively investing ahead of the curve in R&D, feet-on-the-ground in India, and AI technologies. It is pivoting towards complex generics, respiratory drugs, biosimilars, and injectables globally. Over the next five years, management projects secular growth and significantly higher EBITDA margins, backed by an expanding product pipeline and steady domestic outperformance.