Lupin acquires US rights to market anti-diarrhoeal drug, Q1 net up 43 percent

Mumbai, Aug 7 (IANS) Indian drug-maker Lupin Wednesday announced it has signed a strategic licensing agreement with US pharmaceutical company Romark Laboratories under which the company gets exclusive rights to promote, distribute and market Alinia for oral suspension in the US market.

Alinia (nitazoxanide) is used for the treatment of diarrhoea caused by Cryptosporidium and Giardia, in patients one year of age and older, and is approved by the US Food and Drug Administration, Lupin said.

Cryptosporidium and Giardia are the two most common protozoal causes of diarrhoea in the developed and developing world.

"The agreement demonstrates Lupin's commitment to grow its brand franchise in the US," Vinita Gupta, CEO, Lupin Pharmaceuticals Inc., Lupin's US subsidiary.

"Our sales and marketing efforts will commence immediately and we are optimistic that Alinia will contribute to our growth and profitability in the coming quarters and years," she added.

Meanwhile, Lupin's released its first quarter (April-June) results showing net profit greing 43 percent year-on-year to Rs.401 crore, but revenues rose lower-than-expected 10 percent on yearly basis to Rs.2,476 crore.

Domestic revenues declined to Rs.675.53 crore during the quarter from Rs.681.53 crore in corresponding quarter of last fiscal, but its revenues from international business grew by 14.5 percent Y-o-Y to Rs.1,800.45 crore.

Managing director Kamal K Sharma said: "We have had a good quarter fuelled by strong business performance in the US as well as improved operational efficiencies that have led to stronger margins."

The company's US revenues grew 54 percent year-on-year to Rs.36,830 crore during the financial year ended March 2013.

Matches