The dermatology segment in Brazil, worth USD 1.5 billion, and growing at 10 percent per annum, is one of the fastest growing segments in the country.
Moneycontrol News
Drug maker Lupin August 23 said it has entered into the prescription dermatology segment in Brazil with the launch of Fillerina and Recrexina under the Lupin High-End Skin Science umbrella.
Valued at $28 billion, Brazil is the world’s 6th largest pharmaceutical market, driven by growing public health expenditure and increasing household income.
The dermatology segment in Brazil, worth $1.5 billion, and growing at 10 percent annually, is one of the fastest growing segments in the country.
Fillerina is a high-end anti-aging technology that incorporates a deep action innovative formulation to fill wrinkles and expression lines.
related news
Recrexina is a hair-growth formulation which stimulates natural hair growth in active and partially inactive follicles, through the use of a patented formulation of biostimulating molecules which preserve the stem cells in hair follicles.
As part of the launch, Lupin has also launched a 360-degree communications campaign, focused on healthcare professionals, pharmacy chains, and regional and national medical associations in Brazil.
“The dermatology segment is a rapidly growing portion of the Brazilian pharmaceutical market. The establishment of this new division to cater to Brazil’s fast-growing dermatological segment will further strengthen our presence in the region and serve to drive our future expansion plans,” said Martin Mercer - President, Latin America, Lupin.
Lupin Brazil clocked sales of BRL 157 million during FY18 making it the largest Indian company in Brazil by volume and second largest by value.
The company entered Brazil through the acquisition of Medquímica Indústria Farmacêutica in 2015, which provided a strong manufacturing base in the region and a portfolio of branded generics, pure generics, and OTC products.
Medquimica sales have been growing at 20 percent plus during the last 3 years through growth in the generic business and leading OTC brands. Dermatology through medical promotion now adds another strong pillar for the future growth.