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The new playbook involves: Complex generics : Injectables, respiratory/nasal sprays, ophthalmic, transdermal products with technical barriers that limit competition Controlled substances : A sub-theme gaining momentum at Strides through its Chestnut Ridge facility and DEA quota Biosimilars : The next major wave is pembrolizumab, bevacizumab, ranibizumab, trastuzumab 505(b)(2) specialty: Branded differentiated products filed through the 505(b)(2) pathway (Alembics PIVYA) Peptides: Semaglutide filings by Zydus and Lupin as the frontier opportunity 17) Lupin US - $1.3 Billion and Still Accelerating FY26 US : ~$1.3 Bn (+~40% YoY) | Q4 US: 33,987 Mn ($371 Mn, +55% YoY) Lupins US performance is the headline story of Q4 FY26
A 1 nM TGR was used in all cases
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