Alembic eyeing Rs 2,000cr revenue in 4 years

Vadodara, March 31, 2008: Alembic is celebrating its centenary year in 2007-08. On the occasion of the centenary celebration, Dr. APJ Abdul Kalam, former President of India was the chief guest and Mr. Narendra Modi, Chief Minister of Gujarat was the guest of Honour.

Speaking on the occasion, Mr. Modi profusely complimented Mr. Chirayu Amin and his family members for 100 successful years of service to humanity by producing and marketing quality drugs at affordable price. He also announced setting up a Bio Technology Park in the city of Vadodara.

In his key note address Dr. Kalam expressed his vision of making India hub for scientific research and pharmaceutical manufacturing. He challenged the pharmaceutical industry to set itself a target of producing 40% of world's generic medicines. He also touched upon various opportunities to Indian Pharmaceutical Industry in fields of collaborative research with national research laboratories for curing diseases like TB, Typhoid, Malaria, etc.

Dr. Kalam and Mr. Modi released a set of two books on 100 Year Journey of Alembic Ltd.

Earlier Mr. C R Amin, Chairman & Managing Director of Alembic Ltd. in his welcome speech assured the dignitaries that Alembic would continue to be socially responsible, knowledge driven and people centric organization. He also said "After, reaching 100 years, we confidently and proudly enter the next centenary with a rich history, experience and value system. Alembic is looking at the future with confidence and our next target is to touch Rs 2000 crore turnover in the next four years."

To reach the Rs 2000 crore mark, Alembic is looking at organic and inorganic opportunities to increase its business. International business is expected to contribute 45% to total revenue in the next four years from the current 25%.

The centenary year has been quite eventful for Alembic with the acquisition of Dabur's non-oncology business and the NDDS deal with UCB Pharma SA. The company is also expected to sign a contract manufacturing agreement with a large pharma multinational. Details of the deal were not disclosed due to confidentiality clauses.

Alembic has an USFDA approved API manufacturing facility at Panelav near Vadodara. The Company recently bought an API manufacturing facility of Nirayu Pvt. Ltd in Gujarat, which will further strengthen its API (bulk drug) portfolio. The company's formulation facility at Panelav has also been successfully inspected by USFDA and a formal approval is expected shortly.

For the nine months ended December 31, 2007 the company recorded sales of Rs 759 crore, which is more than the annual sales of Rs 721 crore in the previous financial year. In the current year, the company is confident to touch Rs 1000 crore mark.

Alembic Centenary Celebrations

To commemorate its Centenary, Alembic celebrated the 'Foundation Week' from March 28-31. As part of the celebrations, a blood donation camp, cultural programmes, a 100 year photography exhibition, a musical evening by noted Ghazal singer Jagjit Singh were organized by the Company. Dr. APJ Abdul Kalam, former President of India and Mr. Narendra Modi, Chief Minister of Gujarat released a book on the 100 year journey of Alembic.

A Brief History of Alembic

Raj Mitra, Shri BD Amin was one of the founders of Alembic along with Prof. A.S. Kotibhaskar and Prof. T.K.Gajjar. The chief aim of the company was to provide employment to Indian graduates and direct their energies to scientific research. The company was expected to be a change agent to help the growth of other chemical industries, so that raw materials of the country were utilized and chemical skills and knowledge were given encouragement.

Alembic was one of the first few companies to start manufacturing Penicillin, a life saving antibiotic and an important medicine for Indians. The Company produced Penicillin with total indigenous technology, without any foreign collaboration, which was the norm those days.

About Alembic Limited

Established in 1907, the Rs 1000 crore -Vadodara (Gujarat, India) based Alembic Ltd. is a leading pharmaceutical company in India. The company is vertically integrated with the ability to develop, manufacture and market drug products, drug substances products, substances and Intermediates. Alembic is the market leader in the Macrolides segment of anti-infective drugs in India. 'Zero' (high intensity sweetener), Glycodin (cough syrup) and Althrocin (Erythromycin), Azithral (Azithromycin), Roxid (Roxythromycin), Wikoryl are some of the leading brands for the company. Alembic entered the lifestyle therapeutic segment with the acquisition of Dabur's non-oncology business in April 2007.

Alembic's manufacturing facilities are located in Vadodara and Panelav in Gujarat, and Baddi in Himachal Pradesh. The plant at Vadodara has the largest fermentation capacity in India. The Panelav facility houses both API (USFDA approved) and formulation manufacturing (to undertake US FDA inspection shortly) plants. The plant at Baddi, Himachal Pradesh manufactures formulations for the domestic and export market. The company has a state-of-the-art Alembic Research Centre at Vadodara, to build its strength in chemistry and capitalize for the CRAMS business.