In Reality, takes a lot longer than expected; still facing huge competition.
  • From oral solids to complex formulations: Research projects at 235+
    • R&D strength increased to 1100+; continues robust ANDAs filings run rate.
    • Aleor, JV for dermatology products, filed eight ANDAs in the fiscal and received two ANDA approvals (Dermatology): expected to launch its first product in the US. 
    • Associate company: Rhizen Pharmaceuticals SA has out-licensed novel molecule (Umbralicib i.e. TGR 1202) to TG Therapeutics, USA and the recent clinical data is very robust. The molecule is for the treatment of rare forms of blood cancer.
  • India: Market share decreased to 1.6% (weak performance)
    • 185 brands: 68% sales are chronic
  • USA: Competition continues to intensify and pose pressure on pricing. Moreover, with the implementation of the Generic Drug User Fee Act (GDUFA), the pace of ANDA approvals by USFDA has improved significantly. 
    • One-off gain: This growth was largely contributed by a short-term supply opportunity that we leveraged in the second quarter of the fiscal.