Matrix Labs has filed 15 DMFs in the US, during 2005-06, taking the total tally to 60. Out of these 60 products, currently, only 10 products have been commercially launched. During the current year (FY 2007), the company proposes to double this number and file 30 DMFs in the US.
During the last fiscal, finished dosage facility in Nasik was upgraded to gear up for US FDA inspection and the facility is likely to have necessary regulatory approvals in the next few months. To augment the Finished Dosage business, an R&D team of approximately 80 in number was established in a short span of time and have been successful in filing the first ANDA with the US FDA. The company expects record filings of approximately 30 ANDAs/Dossiers in US and Europe in FY 2007, according to the official sources.
The company has made substantial investments for enhancement of capacities, up-gradation of facilities, which shall enable the company to meet the market demands in the next few years.
As a strategic initiative, the company has established front-end presence in South European market through Docpharma, Belgium; strengthened supply chain through Mchem, China; consolidated ARV business through alliance with Aspen, South Africa; gained access to Oncology and controlled substances portfolio through Fine Chemicals Corporation, South Africa; and achieved a foot-hold in fermentation capabilities through Concord Biotech, Ahmedabad.
Going forward, these strategic initiatives will create a platform from where the company is positioned to meet the business challenges of future and also diffuse the risk through diversified revenue stream. The company has moved from one growth driver to multiple growth drivers, the sources stated.
Astrix Laboratories Limited, a joint venture with Aspen Pharmacare, South Africa, with primary focus on ARV APIs has commenced its supplies to Aspen apart from other key customers. Acquisition of Mchem has fortified the position of the company in this segment, through backward integration of key intermediates. The company expects significant growth for this portfolio in the current year.
Docpharma, NV, a 100 per cent subsidiary of the company, is now expanding its presence in Italy as further dossier approvals and consequent launches are expected in the current year. It has also initiated the process of divestment of the hospital business division (non-core), which is expected to be completed in the next two months, the company stated.
Wide ARV portfolio and large FDA capacities are also expected to contribute to Matrix's Contract Research and Manufacturing (CRAM) business, substantially in future. The multiple projects with leading pharma companies are expected to translate into revenues in FY-07.