Lupin Ltd is setting up a new plant for manufacturing Lovastatin, a cholesterol lowering active pharmaceutical ingredient (API), which is aimed at consolidating its presence in the lifestyle drug segment. The company has earmarked an investment of Rs 10 crore for setting up this plant which will meet USFDA standards.
The plant, with an initial capacity of above 12 metric tonne per annum will be set up at the company’s facilities in Tarapur, Maharashtra.
Lupin has already entered into a long-term contract with a global pharmaceutical player for the supply of Lovastatin APR, even as the company begins implementing the project.
The total global market size for Lovastatin and Simvastatin (derived from Lovastatin) is above $6 billion. With its over 12 metric tonne capacity, Lupin would be among the world’s top five manufacturers of Lovastatin API. The decision to set up the Lovastatin plant is in continuation of Lupin’s strategy to build up global scale API capacities in the lifestyle drug segment.