Indian Based Lupin Pharmaceuticals Exploring U.S. Expansion
Lupin, the Indian drug manufacturer based out of Mumbai, has taken a new step to expand its visibility in the U.S. According to the Baltimore Business Journal, in June, Lupin signed a lease for a 34,000- square-foot location that would allow the company to affix its name at the top of the office tower. As of last week, the company has placed its name on the building, making its presence known to city residents, visitors, and other companies. This move will make the company a prominent presence on the Baltimore skyline and signals its growing presence in the U.S. market.
Mary Furlong, Lupin’s EVP of corporate development told the Baltimore Sun, “When you called you probably didn’t know much about our company and most people don’t. We thought it was important to put our name out there to signal to people that this is a good, growing company here in the U.S.
The company is using two floors at 111. S. Calvert Street for sales, marketing, human resources, and financing. While the company has always kept its research and development operations overseas in India, it opened an R&D center in Florida last year and has plans to build a second one at another U.S. location later this year. Furlong has said that the company is “very seriously” considering Baltimore for the location of its new R&D center. She also stated that the company's choice of a Baltimore office stemmed from the proximity to the FDA. The company's location in Baltimore will also provide a close connection to other pharmaceutical companies based out of the northeast.
The drug company has been in business for over 45 years, and it already is the 5th largest provider of generic pharmaceuticals in the U.S. Just last year, the company experienced 39 percent growth in the U.S. market alone.