Lupin announced a strategic distribution agreement with LG Life Sciences (South Korea) to launch Insulin Glargine, a novel insulin analogue under the brand name Basugine. According to the agreement, Lupin would be responsible for marketing and sales of Basugine in India. The overall diabetes market size within the Indian pharmaceutical market (IPM) stood at Rs 60.32 billion growing at 18% (IMS MAT April 2014).

The total insulin analogue market size is valued at Rs 5.85 billion with 3 year CAGR of 24%. The total Glargine molecule market is Rs 2.18 billion with 3 year CAGR of 23%. Lupin ranks 2nd in the conventional insulin market and grew more than the market at 10.82% in April 2014 (IMSD MAT), while the market grew at 8%.
 
Commenting on the investment rationale, Sarabjit Kour Nangra, VP Research, Pharma, Angel Broking, said, ''Lupin's entry into the insulin analogue market with launch of Basugine is a step in the right direction. Lupin's foray in this segment will help us further strengthen its Diabetes portfolio enabling it to grow deeper into the Diabetes segment and will fuel its growth in the years to come. We maintain our neutral view on the stock.''

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