Eli Lilly India and Lupin Announce Strategic Collaboration to Help Fight the Battle Against Diabetes

NEW DELHI and MUMBAI, India, July 29, 2011 -

Eli Lilly India (Lilly) and Lupin Limited (Lupin)today announced they have entered into a strategic collaboration to promote and distribute Lilly’s Huminsulin range of products, including Huminsulin R™, Huminsulin NPH™, Huminsulin 50/50™, Huminsulin 30/70™ and Humapen Ergo II.  Lupin’s India formulations business will promote and distribute the range of products in India and Nepal, virtually doubling the number of sales representatives behind the diabetes care product. This collaboration will double the current customer base; approximately 45,000 doctors will now be called on as a result of the new partnership.  

For Lilly, a company whose history in insulin production dates to 1923, caring for diabetes patients in India is clearly a priority.  The country has an estimated 51 million people with diabetes currently and will have an estimated 85 million by 2030, or nearly one-fifth of all patients with diabetes globally. Lilly hopes to increase access to Huminsulin™ products through its relationship with Lupin India, bringing one of the most basic and proven therapies for diabetes treatment to more patients.

Lupin’s India formulation business will deploy a sales force of medical representatives to provide education and resources to physicians and patients.  Lupin has a vibrant presence in the Indian pharmaceuticals market and has over the past several years made major strides in expanding its therapy portfolio.  Lupin has a robust promotion and distribution setup along with a strong presence in various therapeutic areas, including the fast growing diabetes market. This strategic collaboration will achieve major synergy arising from the strength of the product portfolio of Lilly and the promotion and distribution capabilities of Lupin.  

“As our highest priority, diabetes is a clear “must win” for Lilly Emerging Markets,” said Eberhard Ludewigs, Vice President, Emerging Markets, Eli Lilly and Company.  “This partnership will allow us to change our game in India.  We will have a stronger footprint with many more sales representatives promoting our diabetes brands, and this will become a foundation to expand our diabetes business not only for current products, but also for our future pipeline.  Lupin is well-aligned with Lilly’s goal of expansion in India and other emerging markets.”

Shakti Chakraborty, Group President, India Region Formulations, Lupin Limited added: “With Lilly’s presence and expansion in the emerging markets space, the leadership team at Lupin feels strongly about the collaboration and the synergy it will create.  We are pleased to be associated with Eli Lilly in India and this bears testimony to Lupin’s existing market reach and will go a long way in strengthening our leadership position in the Indian diabetes market. We firmly believe that Lupin will bring tremendous value to this partnership based on our extensive experience and understanding of the Indian market. Our partnership is a significant step forward as both companies share the passion and commitment to make a meaningful difference to the quality of lives of patients with diabetes.”

About Lilly

Lilly, a leading innovation-driven corporation is developing a growing portfolio of pharmaceutical products by applying the latest research from its own worldwide laboratories and from collaborations with eminent scientific organizations. Headquartered in Indianapolis, Indiana, Lilly provides answers - through medicines and information - for some of the world’s most urgent medical needs.

About Lupin

Headquartered in Mumbai, India, Lupin Limited is an innovation led transnational pharmaceutical company producing a wide range of generic and branded formulations and APIs. The Company today has significant presence in Cardiovasculars, Diabetology, Asthma, Pediatrics, CNS, GI, Anti-Infectives and NSAIDs in addition to holding global leadership positions in the Anti-TB and Cephalosporins space.

Today, Lupin is the 5th largest and the fastest growing generics player in the U.S. (by prescriptions), the only Asian company to achieve that distinction. The company is also the fastest growing top 10 pharmaceutical players in India, Japan and South Africa. (IMS Health)

For the financial year ended March 2011, Lupin’s Consolidated Sales and Profit after Tax were Rs. 57,068 million (USD 1.28 Billion) and Rs. 8,626 million (USD 193 million) respectively.  Please visit www.lupinworld.com for more information.

This press release contains forward-looking statements about a strategic collaboration to market insulin products.  It reflects Lilly’s current beliefs; however, as with any such undertaking, there are substantial risks and uncertainties in the process of drug development and commercialization. There is no guarantee that these products will continue to be commercially successful or that the collaboration will produce expected results. For further discussion of these and other risks and uncertainties, please see Lilly’s latest Forms 10-Q and 10-K filed with the U.S. Securities and Exchange Commission. Lilly undertakes no duty to update forward-looking statements.

C-LLY

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Lilly Contact: Anurag Khera, khera_anurag at lilly.com +91-12-44-753-180 (office); or Lupin Limited Contact: Shamsher Gorawara, shamshergorawara at lupinpharma.com +91-98-20-338-555 (mobile)