The plant, with an initial capacity of above 12 metric tonne per annum will be set up at the companys 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 worlds top five manufacturers of Lovastatin API. The decision to set up the Lovastatin plant is in continuation of Lupins strategy to build up global scale API capacities in the lifestyle drug segment.