Aurobindo eyes $3-bn revenues by FY-18
Aurobindo eyes $3-bn revenues by FY-18. City-based Aurobindo Pharma Limited is targeting $3 billion (about Rs 19,000 crore) in total revenues by the end of financial year 2017-18. This represents nearly 58 per cent jump from Rs 12,120 crore (nearly $2 billion) revenues it had reported for the last fiscal (2014-15).
It expects the existing product lineup and new offerings in the pipeline to drive the growth
Hyderabad: City-based Aurobindo Pharma Limited is targeting $3 billion (about Rs 19,000 crore) in total revenues by the end of financial year 2017-18. This represents nearly 58 per cent jump from Rs 12,120 crore (nearly $2 billion) revenues it had reported for the last fiscal (2014-15).
Aurobindo witnessed a whopping 49.6 per cent upswing in total revenues and 34.4 per cent rise in net profit at Rs 1,575.7 crore last fiscal as compared with the company’s financial performance in the preceding fiscal.
“Team Aurobindo is working day in and day out to make the company even more efficient, even more profitable and has set ambitious target for coming months and years, including crossing revenues of $3 billion in 2017-18,” K Nityananda Reddy, Vice-Chairman, Aurobindo Pharma, said in the company’s annual report for 2014-15.
Reddy further said the company had several levers and robust business model to gain traction in the market. Major factors that are expected to drive the company’s growth trajectory include differentiated product portfolio that addresses six key therapeutic areas, growing presence in over 150 countries and a sizeable pipeline of filings for niche products that await regulatory approvals and vertically integrated manufacturing infrastructure.
To meet the increasing demand for its projects globally, Aurobindo Pharma is ramping up production capacity for active pharmaceutical ingredients (APIs) and formulations at it the existing facilities. Besides, the pharma major is also setting up three Greenfield projects to add to its formulations capacity at Jedcherla in Mahabubnagar district, Visakhapatnam and Nayudupeta in Nellore district.
“All the expansions and new projects will go live in 2015-16 and the balance in 2016-17. The capacity building efforts are to provide further opportunities for the existing products, cater to a growing product portfolio, as well as to service the Western European markets,” said N Govindarajan, the company’s Managing Director.
According to him, the company has an attractive product portfolio which includes 193 approvals (including 27 tentative approvals). In addition, another 183 products which have been submitted for approval in 2015 and 2015 are awaiting review.
By P Madhusudhan Reddy
