Domestic pharmaceutical firm Lupin Ltd has decided to
restructure its board by inducting two heavyweight directors
from multinational pharma companies. Lupin is also planning
to licence out its new chemical entity, LL3348, to the
US and European pharma firms.
close to the development say Lupin''s move is based on
the recent equity restructuring, offloading 12.5-per cent
stake each to Citi Venture Capital Fund and New Bridge
Capital. "As per the agreement with the Citi group
and New Bridge, Lupin''s focus has to be changed with a
thrust mainly on regulated markets. The appointment of
new directors is the first step in this direction. Besides,
the company is also appointing a multinational accounting
firm as its auditor. The Lupin board will announce the
new names after the board meeting scheduled this month."
Lupin chairman Dr D B Gupta: "We have plans to induct
some new directors. Currently, the company board is discussing
the subject. We are in talks with the US and Europe-based
companies to licence out LL3348. We have just made a presentation
to the US Food and Drugs Administration as part of filing
the investigational new drug application with the international
drug regulators. Talks are also on with various companies
to licence out the molecule."
to industry sources, 7 million Americans suffer from psoriasis,
and physicians diagnose about 150,000-250,000 new cases
every year. The cost of outpatient treatment for psoriasis
is estimated at around $1.6 billion a year in the US.
says NCEs [new chemical entities] and NDDS [novel drug
delivery system] research are other lucrative avenues
looked at by the company. It will begin clinical trials
of its new NCE for migraine.
is working on advanced drug delivery systems on generics,
and new platforms for oral-controlled release systems
on formulations to improve compliance. Likewise it has
filed 110 patents to date of which 50 have been granted.
margins from tuberculosis (TB) business are on the decline,
Lupin will continue with its manufacturing and research
on new molecules. The company already has a dedicated
facility at Pune for conducting anti-TB research.
is the world''s largest manufacturer of ethambutol with
about 84-per cent of the global market share. It is also
one of the leading producers of rifampicin in the world.
The world TB market (institutional sales and private trading)
is worth $800 million.