Mumbai based Aanjaneya Lifecare received the Certificate of Suitability from EDQM for two of its bulk drugs quinine sulphate and quinine hydrochloride. As one of the world’s largest producers of quinine salts, this certification opens the gates for a huge market in Europe for Aanjaneya Lifecare.
Aanjaneya has already commenced the supply of product quinine sulphate to pharmaceutical major Teva this year. In other significant development, Aanjaneya has bagged new orders from Wockhardt for their brand Recodex and four other clients. The company has confirmed order book of Rs. 60 crore from new clients such as Wockhardt, Cipla, Remedica, Tanzania Pharmaceutical, Activo SA and Pharmed Europe to be executed within next two months.
The Company has seen impressive growth in its formulations business in pain management, cough cold, herbal and anti-malarial segments. It is estimated by the Company that these new orders from new clients will have a positive impact by over 20 per cent in sales and 5 per cent on EBIDTA margins this financial year.
Commenting on the developments, Dr Kannan Vishwanath, chairman, Aanjaneya Lifecare said, “We are ahead of curve when compared to the assurances that we have given to our stakeholders during our recently concluded IPO. We believe that there is lot of opportunities ahead and Aanjaneya is perfectly poised to exploit them.”