Aurobindo Pharma betting big on the US market
Aurobindo Pharma Ltd, the world’s 10th largest generics company, is eyeing rapid expansion in the US market, accounting for nearly half of the firm’s revenue.
Hyderabad-headquartered company is betting big on the US market coupled with significant expansion in its injectables portfolio.
N Govindrajan, MD, Aurobindo Pharma, said, “The US business contributed to 46 per cent of our revenue and registered strong 21 per cent growth during the year at Rs 9,030.7 crore as all-out key business segments including orals, injectables, over-the-counter drugs and dietary supplements performed well. It was a busy year for the US team as we launched 50 new products, including 12 injectables in the market.”
“Also, in 2018-19, we received approvals for 48 abbreviated new drug applications (ANDAs) and filed for a total of 63 ANDAs with the US FDA. While these filings will drive organic growth in the US market, during the year, we also had the opportunity to pursue inorganic growth that will help us enter new therapeutic areas and segments including branded oncology products,” he further added.
The company’s ability to produce affordable drugs and foray into new therapeutic segments and geographies will be key factors in expansion across growth markets.
Govindrajan stated, “We are present in multiple geographies, across products, delivery mechanisms and therapeutic areas and our sustained growth over the years is a result of our actions in all these areas.”