Alembic Pharmaceutials, a Vadodara based pharma major with net sales of Rs.3,100 crore plus, has suffered setback during the first quarter ended June 2017 and its net profit declined sharply by 35.7 per cent to Rs.66.67 crore from Rs.103.74 crore in the corresponding period of last year. Its consolidated net sales also declined sharply by 12 per cent to Rs.648 crore from Rs.737 crore. With fall in profits, EPS declined to Rs.3.54 from Rs.5.5 in the last period. Its R&D expenditure increased by 14.2 per cent to Rs.94 crore from Rs.82 crore.
Pranav Amin, managing director, said, “The performance in the quarter was weak primarily due to the transitional provision of GST on the India branded business. Our expansion is progressing well and our oncology facility was recently inaugurated.”
Its international formulation sales declined to Rs.282 from Rs.309 crore in the same quarter of last year. US formulation business was at Rs.211 crore. It received 6 ANDA approvals from US FDA and its cumulative ANDA approvals reached at 58. It filed 6 ANDAs during the quarter and cumulative ANDA filing reached at 101.
Its sales of Indian formulations declined to Rs.236 crore from Rs.299 crore and API sales remained stagnant at Rs.130 crore.
Recently, Alembic received US FDA approval for olmesartan medoxomil and amlodipine tablets. The approved ANDA is therapeutically equivalent to the Azor tablets of Daiichi Sankyo Inc. Olmesartan medoxomil and amlodipine tablets are indicated for the treatment of hypertension, alone or with other antihypertensive agents to lower blood pressure.
Alembic's Rs.300 crore anti-cancer manufacturing facility at Panelav, Halol was inaugurated. The plant has an initial manufacturing capacity of 60 million tablets/capsules and approximate 20 million vials of liquid injetable and lyophilized concentrates. This facility is designed with containment control automated standards & major equipment were imported like BOSCH from Germany, GEA from Belgium, Alexanderwerk from UK, ICOS from Italy, Tofflon from China.