The company will set up a 45,000 sq ft National Reference Lab in Navi Mumbai
Lupin is foraying into diagnostics to leverage its doctor connect to tap a sector that has low entry barriers, gives high returns on capital employed, and is witnessing double-digit growth. A formal launch is expected next month, sources in the know said.
Lupin Diagnostics will be a part of Lupin Healthcare, a 100 per cent subsidiary of Lupin. It is in the process of recruiting the team, finalising franchise partners, and setting up a 45,000 square feet laboratory in Navi Mumbai. The company did not wish to comment on the development.
Lupin has already hired an experienced team with a background in the diagnostics sector and work experience in firms like Apollo Diagnostics, Dr Lal’s Pathlabs, SRL, and Reliance Life Sciences, Credit Suisse analysts noted.
Lupin has set up a National Reference Laboratory in Navi Mumbai that has the capabilities to conduct a broad spectrum of tests across molecular diagnostics, cytogenetics, flow cytometry, histopathology, microbiology, etc.
Also, Lupin is looking for franchise partners with an investment of Rs 2-5 lakh without any security deposit, according to a post by Franchise India Holdings. It is following a hub-and-spoke model where all processing labs are operated by Lupin Healthcare and are surrounded by collection centres.
The plan is to focus on western India (Mumbai, Pune, Nagpur, Nashik, and Kolhapur), central India (Patna and Ranchi), and East India (Kolkata, Siliguri, and Guwahati).
The company will set up a 45,000 sq ft National Reference Lab in Navi Mumbai.