Lupin has reportedly hiked price of its generic diabetes drug Fortamet by three times for 500 mg and 1000 mg variants. Despite the price hike, the company’s drug is still 15% cheaper than its innovator.
Fortamet has two generic players in the market, Lupin and Mylan. Lupin has 60% market share of the drug in value terms. Mylan, which got the approval for the drug in 2013, has not yet launched its generic version. Fortamet’s current market size is estimated at $170 million.
Lupin is an innovation led transnational pharmaceutical company producing and developing a wide range of branded and generic formulations as well as biotechnology products and APIs globally.
