Pharmaceutical Industry Lupin Inks Distribution Agreement with Korean Company
India pharma company Lupin has signed a strategic distribution agreement with LG Life Sciences (South Korea) to launch Insulin Glargine, a novel insulin analogue under the brand name Basugine. According to the agreement, Lupin would be responsible for marketing and sales of Basugine in India.
Mumbai/India - The overall diabetes market size within the Indian Pharmaceutical Market (IPM) stood at Rs. 6032 Crore growing at 18 oer cent (IMS MAT April 2014). The total insulin analogue market size is valued at Rs. 585 Crore with 3 year CAGR of 24 per cent. The total Glargine molecule market is Rs. 218.5 Crore with 3 year CAGR of 23 per cent. Lupin ranks 2nd in the conventional insulin market and grew more than the market at 10.82 per cent in April 2014 (IMSD MAT), while the market grew at 8 per cent. Lupin is amongst the fastest growing players in the OAD (Oral Anti-Diabetes Drugs) market and also in the insulin segment.