Co making headway in development of anti-cancer drugs and hormonal products, hopes to file nine more applications with the US Food and Drug Administration this fiscal
Hyderabad-based Aurobindo Pharma expects to achieve revenues of $2 billion (about Rs 12,000 crore) in the current fiscal. The company is also spreading its businesses (formulations and active pharmaceutical ingredients, or APIs) into European, Australian and Japanese markets to reduce the concentration of risks in other markets, mainly the US.
The company in its annual report 2013-14 said, "Leveraging on its large state-of-the-art manufacturing infrastructure for APIs and formulations, wide and diversified basket of products and confidence of its customers, the company aims to achieve $ 2 billion revenues by 2014-15." It clocked a revenue of Rs 8,099.79 crore in the last fiscal.
The report said efforts are being made to strengthen business presence in potentially large markets such as Japan, Brazil, South Africa, Canada, Australia, North and West Africa and West Asia. "These initiatives would also help consolidate Aurobindo's volumes and revenues over the long term, thereby spreading the risk portfolio."
One of the long-term strategies the company is focusing is to globalise and further penetrate into the markets such as Japan, Brazil and other Latin American countries through joint ventures or subsidiaries or through organic means, the report said.
Aurobindo is making a headway in development of anti-cancer drugs and hormonal products, both in solid and parenteral dosage forms. "In 2014-15, filings for approvals are being planned for a few products," the company said in the report.
In the injectable space, the company hopes to file nine more applications with the US Food and Drug Administration (FDA) this fiscal and another 30 in the next. "In the injectable business, going forward, we are gearing ourselves for a meaningful growth in the medium term. We have 45 files with FDA under review, and we hope to file nine more in 2014-15 and another 30 in 2015-16," said Arvind Vasudeva, chief executive officer – formulations, Aurobindo Pharma.
He said depending on the timing of the regulatory approvals, a significant growth can be seen over the next two to three years.
Aurobindo has a strong pipeline for the US market.
"There are a significant number of new products to be launched this fiscal while several applications are pending with the regulatory agency. These products are a combination of day-one generic launches as well as products aimed at existing markets. We, therefore, have a good mix of volume drivers for the US markets," Vasudeva said.
The company filed 78 abbreviated new drug applications (ANDAs) with the US FDA in 2013-14. The total ANDA submissions as on March 2014 stood at 336. The company has received 195 such approvals till March last.
Aurobindo is striving to improve its presence through acquisition of certain commercial operations of Actavis Plc in Western Europe. The acquisition will expand Aurobindo's front-end operations into five segments (generics, prescription products, over-the-counter products, hospital products and generics tenders) with approximately 1,250 dossiers and an additional pipeline of over 200 products.
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