Aurobindo Pharma to expand its US portfolio; eyeing new markets in Europe
The Dollar Business Bureau
A leading Indian pharmaceuticals company Aurobindo Pharma has said that it would widen its product portfolio in the American market while planning to enter new markets in the Europe, a part of the company’s growth strategy in the coming 3-4 years.
In the US market, Aurobindo Pharma plans to widen its portfolio through faster growth in OTC, injectable and higher complexity products, the company said in a presentation to investors.
However, in European market, the company plans to enhance its presence in new geographies like Czech Republic and Poland, in addition to strengthening its position in the existing markets of Germany, France, Spain, Netherlands and the UK.
Aurobindo Pharma is the 6th largest generic company by volume in the US, where it is, looking at "broadening portfolio with more balance through accelerated growth in injectable, OTC, and higher complexity products,” it said.
In addition, it is also planning to enhance collaboration across the world customer base.
“Operational efficiencies and cost leadership in API and formulation manufacturing, supply chain planning and distribution, will be other key drivers for growth in next three to four years,” it added.
The Hyderabad-based company said it has been following an approach of differentiated pipeline with the launch of new products, including ophthalmics, injectables, controlled substances and speciality products in the US.
Besides, the company has enhanced presence in the business of dietary supplement through Natrol brand, acquired in 2014.
On European market, Aurobindo Pharma said that it is seeking to enhance position by launching new products and expanding to some Eastern European market. Going forward, it is planning to increase its presence in new geographies like Czech Republic and Poland, as per the investor presentation.
Aurobindo’s major markets in Europe are Germany, France, Italy, Spain, Netherlands, Portugal and the UK. Lower penetration of generics in the markets of France, Spain, Italy and Portugal provides future growth possibilities in the coming 3-4 years as the share of generics increase, it said.
In its growth markets like Brazil, Colombia, Canada, Ukraine, Mexico, Tanzania, South Africa and GCC countries, Aurobindo Pharma is aiming to establish presence for branded generics in next 3-4 years, the company said.
Aurobindo Pharma had recorded a consolidated net revenue of Rs.3,678.7 crore from operations in the April-June period of the financial year 2017-18. Out of that, the formulation sales in the US market were stood at Rs.1,694 crore and the formulations sales in European market were Rs.917 crore.