Drug maker Lupin Ltd. today said it has entered the prescription dermatology segment in Brazil with the launch of its two products, Fillerina and Recrexina, in the country.
“The launch of Lupin high-end skin science is a recognition of Lupin Brazil's capabilities within the pharmaceutical market, and with the launch of Fillerina and Recrexina, we look to executing on our capabilities in this sector and address the dermatological needs of the market,” Lupin Latin America President Martin Mercer said in a statement.
The dermatology segment is a rapidly growing portion of the Brazilian pharmaceutical market, he added.
Fillerina is a high-end anti-aging technology that incorporates a deep action innovative formulation to fill wrinkles and expression lines. Recrexina, on the other hand, is a hair-growth formulation that stimulates natural hair growth in active and partially inactive follicles.
“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,” Mercer said.
Valued at $28 billion, Brazil is the world's sixth largest pharmaceutical market, driven by growing public health expenditure, and increasing household income.
The dermatology segment in Brazil is worth $1.5 billion and growing at 10 percent compounded annual growth rate is one of the fastest growing segments in the country.
Lupin Brazil clocked sales of Brazillian Real 157 million during 2017-18, making it the largest Indian company in Brazil by volume and second largest by value.
The Mumbai-based company entered Brazil through the acquisition of Medquimica Industria Farmaceutica SA in 2015.
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