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Aurobindo Pharma to launch 50 to 60 new products in US in FY20-21
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Our Bureau, Mumbai
June 25 , 2020
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Aurobindo Pharma is planning to launch 50 to 60 new products in US in FY20-21 across biosimilars, inhalers and other segments, N Govindarajan, managing director said during the earning call.
"Out of the 50 to 60 products that we are talking about, 25 products have already been approved," Govindarajan added.
The company is also planning to invest US$ 150 to US$ 200 million on capital expenditure in FY20-21.
The company stated that it has also received approval for 22 ANDAs and launched 34 products across oral, injectable and OTC segments.
Aurobindo Pharma also stated that due to the COVID-19, the company has seen some tepid growth and demand was lower in terms of injectables.
“We have filed 17 ANDAs during the quarter and 55 ANDAs for the year. We have received final approval for six ANDAs and launched four products in the quarter under review. We expect R&D cost to be around 5.5% as clinicals for the biosimilars as well as depots will start, “stated Govindarajan.
The company's formulation business in FY20 witnessed a growth of 24% year-on-year to Rs. 20,012 crore and contributed around 87% to the total revenue, while API business contributed for the remaining balance of 13% and clocked revenue of Rs. 3,083 crore.
Govindarajan added, “The regulation has changed. Preference is there for FDA-approved product and FDA-inspected facility in China. They would get preference in terms of the expedited review. The pricing in the other segments, other than tenders, is also attractive for us to move ahead. But in terms of specifics, we will have more clarity as we get closer to the filing and launch.”
The company also stated that it may see uptick in volume in US especially in oral solids and nutraceuticals.
"The kind of drugs that went up was mostly the antibiotics, antiviral and some of the long treatment routine drugs and primarily we believe that customers are increasing their inventory level in preparation for the disruption and increase in prescription days to 90 was another point, which was responsible probably for the surge," the company added.
The company stated that it may improve EBITDA margin again back to the double digit as a percentage to sales. The company further added that it will be net debt free company by March 31, 2023.
Govindarajan added, “Currently for the Chinese market, we have already started filing products from India and the construction of our own oral formulation manufacturing facility is going on and we expect to take the exhibit batches by the second half of FY2021.”
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