Lupin Targets $500 Million Biosimilar Revenue

Research Analyst: UJVIN NEVATIA (PROPRIETOR: NEVAT INVESTMENTS) | SEBI Registration No.: INH100009628 Lupin Ltd (

) is targeting around $500 million in biosimilar revenue over the next five years, as the pharmaceutical company expands its portfolio and manufacturing capacity across global markets. What Are Biosimilars? Biosimilars are highly similar versions of already approved biologic medicines. Unlike conventional generic drugs, which are produced through chemical synthesis, biosimilars are manufactured using living systems and require complex development, clinical testing and regulatory approvals. Lupin received its first USFDA biosimilar approval in December 2025 for pegfilgrastim. The company plans to launch pegfilgrastim in the US, while ranibizumab is lined up for launches across the US, Europe and Japan. Why Does This Matter? Lupin has invested about ₹500 crore in biosimilar manufacturing capacity so far and plans to increase this to around ₹700 crore. Its existing capacity includes around 11,000 litres of mammalian and 100 litres of microbial capacity, both of which are being expanded. The company is also developing biosimilars for drugs such as nivolumab, denosumab and pertuzumab for the Indian market. It already markets etanercept in Europe and Japan through partnerships. Lupin can use different commercialisation models depending on the product and market, including partnerships, third-party distribution and its own sales force. This gives the company flexibility as it expands into a more complex segment of the pharmaceutical industry. Source: Business Standard No Recommendations