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Alembic Pharmaceuticals Ltd, a Rs. 3,900 crore plus pharma major, is expecting better growth for pharma industry going ahead as pharma exports are doing good, according to Mitanshu Shah, senior vice president – Finance.
Mitanshu Shah, Sr. Vice President – Finance, Alembic Pharmaceuticals, added, "We are extremely positive for the pharma industry. The third quarter will be better than second quarter. About 14% of the investment goes into Research and Development (R&D). The capital expenditure for the half year was at Rs 330 crore."
The company is also planning to launch 7 to 10 products in the second half of the year
For the second quarter ended September 30, 2019, the company posted 23 per cent rise in net profit to Rs. 246 crore for the second quarter ended September 30, 2019 as against Rs. 200 crore last year. The net sales for the quarter was up by 10 per cent to Rs. 1,241 crore from Rs. 1,127 crore last year.
On Q2, Pranav Amin, managing director, Alembic Pharmaceuticals said, "It was a good quarter for the company led by growth in the US market and the API business. We launched 7 products in the US market in Q2. We continue to invest in R&D to build up a product pipeline."
"Q2 was one where we had that one off valsartan product opportunity. This was driven primarily by sales growth in the US on our base portfolio as well as some new launches. In the last few quarters, we have been having issues with serialization and the vendor, and that's something that we are correcting. We hope to get back online for the third quarter onwards," added Amin in an investor concall.
The company's India formulations business for the quarter was Rs. 391 crore as against Rs. 385 crore for the last year, while the company's international formulations grew 10% to Rs 646 crore for the quarter and 17% to Rs 1,099 crore for half year.
The company's generics business in US grew 25% to Rs. 539 crore for the second quarter, while the company's API business grew 31% to Rs 204 crore as against Rs 155 crore for the last year
The company received 6 ANDAs approval for the quarter and 102 cumulative ANDA approvals.
Alembic Pharmaceuticals Limited is a publicly listed company that manufactures and markets generic pharmaceutical products all over the world. With an emphasis on innovation and technology, the company has established a state-of-the-art research facility – Alembic Research Centre (ARC)-including formulation research, and 150-bed bioequivalence facility at Vadodara, Gujarat. As a growth strategy, the company has aggressively started investing in the international generics market with successful ANDA and DMF filings. APL has also filings across Canada, Europe, Australia, South Africa & Brazil.
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