Cipla eyes formulations exports to attain Rs 17-billion turnover
Pradeep
Rane
15 September 2003
Mumbai:
Cipla, a leading domestic pharma company, is focusing
on its formulations exports to attain a turnover of Rs
17 billion in FY04 from Rs 15.5 billion in FY03, a 14-per
cent growth.
The company will also tie up with several partners for US markets to cover formulation exports. It has inked product alliances with established generic firms like Watson Pharma, IVAX Corp and Eon Labs.
These partners have already done 11 abbreviated new drug application (ANDA) filings in the last two quarters based on Cipla''s products, some of which are believed to have the Para IV status.
There are total 90 projects for which Cipla is currently holding discussions with various partners. It is planning to file further 40 ANDAs in the next 12 months, according a research report issued by Enam Securities, a leading broking firm.
The company is also planning to focus on its own library of drug master files (DMFs) for sourcing bulk actives for the above projects. Momentum on DMF filings will be accelerated with 20 products planned in FY04 besides the current 38 filings done year to date (YTD).
The effort to gain a market share and to expand its product basket for Europe is exhibited by 45 product registrations in FY04 YTD. The company, in its 67th annual general meeting, discussed its future plans. It is planning to increase its contribution from formulation exports to 40 per cent of its overseas revenues in FY04 from 37 per cent.
