Alembic Pharma plans to launch approximately 25 products in the coming year in US market

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

Listen to the Article (6 Minutes)

Alembic Pharmaceuticals’ latest earnings report, released on Thursday, highlights an uptick in key financial metrics. The pharma company witnessed an 8% year-on-year increase in net sales, soaring to ₹1,517 crore for the quarter ending March 2024.

The company experienced a 17% surge in net profit, reaching ₹178 crore compared to the same period last year. The earnings before interest, tax, depreciation, and amortisation (EBITDA) increased by 29% year-on-year (YoY) to ₹263 crore.

In an interaction with CNBC-TV18, Pranav Amin, Managing Director of Alembic Pharmaceuticals, sounded optimistic regarding the company’s performance and future prospects. Amin highlighted the strong annual performance, citing growth across various therapies and segments. He emphasised the company’s strategic focus on margin improvement and expansion in the US market, with plans to launch approximately 25 products in the coming year.

Also Read: Interview: SBI has ₹4 lakh crore worth of loan proposals in pipeline, says Chairman Dinesh Khara

“The US, which started a little slow, has been picking up. Last quarter, the US itself grew by about 19%, which is quite heartening, whereas the rest of the world generics grew for the year at about 23%,” Amin highlighted.

Looking ahead, Alembic Pharmaceuticals aims to sustain its growth momentum, with a focus on achieving double-digit growth in the US business. Additionally, the company expects its animal health business to grow by 20–30% in the financial year 2024–25.

“The animal health business that we have… we have got a new product launch; we are focusing on that a lot more. So, it’s a well-run business and expected to grow. It has grown by about 20–30% this year and continue with the same rate moving forward.”

Also Read: Indian Overseas Bank targets 3.25%-3.30% net interest margin in FY25

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow