Aurobindo Pharma, the fourth largest pharma giant with net sales of Rs.13,650 crore, has posted consolidated net profit growth of 23.9 per cent during the first quarter ended June 2016 to Rs.585 crore as against Rs.471 crore in the corresponding period of last year. Its consolidated net sales increased by 13.1 per cent to Rs.3,664 crore from Rs.3,242 crore. EPS, after considering enhance equity capital on account of bonus shares, worked out to Rs.9.99 as against Rs.8.09 in the last period.
Its formulations business registered a growth of 15.9 per cent to Rs.3,032 crore and contributed almost 81 per cent to its gross sales. However, API business clocked growth of only 1.6 per cent to Rs.735 crore and contributed 19 per cent to its gross sales.
Its formulations sales in US improved by 20.5 per cent to Rs.1,704 crore from Rs.1,413 crore in the similar quarter of last year due to the new launches in the oral and injectable segment and that in Europe improved by 12.1 per cent to Rs.831 crore from Rs.742 crore. The growth in emerging markets increased by 17.6 per cent to Rs.194 crore from Rs.165 crore. ARV sales increased by 2.6 per cent to Rs.303 crore. The sales of betalactum API improved by 3.6 per cent to Rs.495 crore from Rs.478 crore and that of non betalactum declined by 2.3 per cent to Rs.240 crore from Rs.245 crore.
N Govindarajan, managing director, said, “The quarter started with a double digit growth on the back of overall business performance. With focus on execution and capability enhancements we continue to progress on specialty generics for a sustained long term growth.”
Aurobindo filed 5 ANDAs with US FDA inncluding 3 in the oral category and 2 in the injectable category. It received approvals for 20 ANDA including 13 final approvals and 7 tentative approvals. On a cumulative basis the company received 269 approvals from US FDA including 41 tentative approvals.
The company has allotted bonus shares in the ratio of 1:1 and its equity capital increased to Rs.58.52 crore from Rs.29.20 crore in the last period. It incorporated Auro AR LLC during May 2016 as a special purpose entity and also established Aurobindo Pharma USA LLC as subsidiary in April 2016.
The company has 23 API and formulation manufacturing facilities with 3 in US and 1 in Brazil. It filed total 403 ANDAs with US FDA and so far received 228 final approvals. Its international sales contributed 90 per cent from more than 150 countries. During 2015-16, US sales were at 43.7 per cent of its total sales and European sales contributed 22.3 per cent. |