Aurobindo Pharma net surges 39.5 per cent to Rs 636 crore

Revenues stood at Rs 5,444.6 crore against Rs 4,250.3 crore and witnessed a strong growth of 28.1 per cent

Aurobindo Pharma has reported a net profit of Rs 635.8 crore in Q1FY20 against Rs 455.7 crore in the corresponding period previous year, witnessing a growth of 39.5 per cent year-on-year, fuelled by a 42.3 per cent increase in the US revenues and ARV formulation business. Revenues stood at Rs 5,444.6 crore against Rs 4,250.3 crore and witnessed a strong growth of 28.1 per cent over the corresponding period last year.

"We have started the year with a healthy performance. Enhancing our quality management practices and adhering to the regulatory requirements continue to be our highest priority. During the quarter, we have commissioned Eugia’s manufacturing facility and launched five oncology and hormonal products in the US market. Our differentiated product basket is progressing well and we are in the process of starting clinical trials for our first biosimilar in Q2FY20," said N Govindarajan, MD, Aurobindo Pharma.

The formulation revenues for the quarter recorded a growth of 34.6 per cent y-o-y to Rs 4,712.0 crore and accounted for 86.6 per cent of total revenues. The US revenue for Q1FY20 witnessed a growth of 42.3 per cent y-o-y to Rs 2,688.4 crore, accounting 49.4 per cent of consolidated revenue. On constant currency basis, revenue grew by 36.9 per cent y-o-y. The company has filed 12 Abbreviated New Drug Application (ANDA) with US FDA including three injectables in Q1FY20 and received final approval for nine ANDAs, including six injectables in Q1FY20.
The company has launched 15 products including four injectables during the quarter. As on June 30, 2019, on a cumulative basis, the company filed 551 ANDAs with USFDA and received approval for 412 ANDAs including 26 tentative approvals.

By EP News Bureau

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