• R&D projects increase to 260 (vs 240)
    • Set up 2 new GLP-compliant labs equipped with the best-in-class automation (pilot batch-making facilities) that ensure complete data integrity.
  • Promoted a 60:40 JV (Aleor Dermaceuticals Limited) with Orbicular Pharmaceutical Technologies. 
    • This alliance increased the dermatology pipeline to 45 molecules, 4 of which they hope to file during FY18.
    • For Alero, they are setting up a greenfield manufacturing facility for dermatology products in Karakhadi which should go on stream by the H2FY18: US$ 4.7 billion market.
  • Commissioned a new API block to double the capacity.
  • US front end: Crossed US$50 million in revenues in only the first full year of operations in the US.
    • Transferred 18 products from their partners to their front-end and added two new products. In 2017- 18, they hope to transfer two products from their partners to their own label and add about 10 new products.
  • The difference between niche and commodity is declining faster than ever, leading to profit margins for conventional products getting squeezed. Two, each player is increasing the complexity play – increasing the pipeline of complex products that mandate a firm grasp on multi-step, challenging chemistries. This necessitates large investments by corporates in widening their capabilities and growing their intellectual capital bases.
  • Partnered with leading research outfits to intensify our R&D. The result: ~25% of our research programs are carried out in collaboration with partners.
  • Indian formulations business was impacted again by multiple price cut announcements and the FDC ban by the Indian regulatory authorities.
    • Stagnant performance continues
    • NPPA: The ban on 344 fixed dosage combinations included their 3 large brands (cold and cough). We were among the first few companies to get a stay on this ban. 
  • Other developed markets are merely good for business presentations; no such revenue scaleup.
  •  all of their facilities – API units (at Panelav and Karkhadi) and oral solid dosage (OSD) facility (Panelav) – successfully cleared the USFDA audit
  • Big goals: we hope to file 100 ANDAs in the next three years (starting 2017-18) – a sizeable proportion of which would comprise challenging products (Para IV/FTF opportunities).
    • Is partially able to achieve this with an average run rate of 25+ in the upcoming years.