Regent Drugs targets $60 million revenues

FROM THE PHARMA FRONT: THIS PILL IS NOT BITTER

Regent Drugs Limited, a member of TEVA Group, is eyeing $60 million revenues this year. The company has also ruled out any acquisitions for the next two years.

Israel-based Teva's 2005 revenues totalled $5.3 billion. It started out in India by acquiring the pharmaceuticals business of JK Industries. Regent Drugs is a fully-owned subsidiary of Teva.

"We have grown by 70 per cent and are now $40 million in size. This year we expect to up that number to $55-60 million," VK Batra, managing director of Regent Drugs Limited told reporters on the sidelines of a seminar on 'Environmental Protection - Challenges ahead for process industry' in Hyderabad.

The company has seven manufacturing units in India and plans to focus on organic growth for the next couple of years.

"We don't see any acquisition happening in India in the next two years. The target company needs to match the company's philosophy and though we have kept our options open, an acquisition is not likely to happen in the immediate future," Batra said.

The company has been investing $7-8 million every year on R&D in India. "We have 120 products in our portfolio now and are adding 10 products each year," he added.