is looking for acquisitions in Japan to maintain its lead in a bid to counter the threat from the entry of Sun Pharmaceutical Industries
in that market, reports a business daily.
The Japanese drug market is No.2 in the world estimated at US$73 billion.
Lupin is among the companies looking for acquisitions in a country that is extremely brand conscious when it comes to drugs, according to the financial newspaper.
"In Japan, we would like to double our base. We cannot grow organically, so my goal is to double the base of Japan in sales," Head of Lupin's Asia-Pacific business Fabrice Ergos has been quoted as saying.
"We cannot expect growth from our own portfolio, you know it is crude, plus to grow ourselves 10-12%, but we have to make a bold movement," he told the paper.
Lupin's US business has witnessed slowdown due to regulatory issues, but the Japanese market grew by 9% in the latest quarter, says the daily.
In February, Lupin had announced that it will invest INR 100 crore in its Japanese plant.
Meanwhile, Sun Pharma forayed into Japan by acquiring 14 brands of Novartis last month for US$293 million.
Sun Pharma will team up with a local partner to sell these brands under its own brand name in Japan.