Aurobindo Pharma expects 25 products approvals in FY16 for US market

Aurobindo Pharma Limited expects approvals for at least 25 injectable products from the US Food and Drug Administration (USFDA) approvals during the next financial year, thus giving boost to its injectable business. The company has about 45 product filings pending with the USFDA in this segment.
 
New products are expected to help Aurobindo Pharma to grow its injectables business at 50 per cent in the next financial year. Aurobindo’s injectables business - currently comprising antibiotics and some antianxiety drugs - has been growing at a rapid pace and currently stood at $50 million for the nine-month period ending December 2014.
 
Meanwhile, the company also indicated that it would try to get out of the commodity type products across the portfolios, going forward. “In the next three to five years, I think, instead of looking at each business and looking at what is missing, overall we would like to see that the portfolio itself is moving out of commodity and becoming more and more differentiated is what we are focusing across the globe,” said N Govindarajan, Aurobindo Pharma's managing director, during a recent conference call with the analysts.
 
Aurobindo has reported a 48 per cent growth in its operating income to Rs 3,166 crore in the quarter ended December 2014, on the back of a 76 per cent growth in formulations revenues. However, its net profit was down 7.9 per cent to Rs 384.4 crore due to the increased costs.
 
FOR COMPLETE REPORT READ: Aurobindo foresees high growth in injectables biz