Neuland Laboratories is projecting a 40 per cent growth in its turnover in the current financial year, over last year's turnover of Rs.100 crore. Exports contribute up to 60 per cent of the company's sales, and exports to regulated markets are constantly growing. The company exports its products to 75 countries. In the next 3-4 years, several developments will take place and the company currently occupies the third position in the regulated markets, after Dr Reddy's and Ranbaxy, Dr DR Rao, CMD, Neuland told Pharmabiz.com.
Ciprofloxacin is a $one billion product for the company, and anti depressants were key to the company's growth. Anti-psychotic drugs and cardiovascular products are well received in the market. Cardiovascular products are exported to the US and Europe. Patents for Enalapril Maleate, Ramipril and Mirtazapine are expected to expire in the US and Europe soon. It has received CoS for Sotalol Hydrochloride from Council of Europe, and has become the only company to have regulatory approval for the product.
Neuland has been offering contract research services to 3-4 large generic companies in US and Canada. Over 50 per cent of the company's major products are developed through contract research. It has good quality systems, which enables it to produce large number of products. It has filed 16 DMFs to US FDA, 5 CoS to Council of Europe, 50 registrations in Europe.
Dr Rao told that the company wants to have 25-30 products in the next 2-3 years with regulatory approvals. Ciprofloxacin will give good profits in future. Patents have expired in Europe and will expire in the US by June 2004. Generic markets will have good demand in both US and Europe. Neuland will give attention to issues such as developing products of customers with complete confidentiality, offering new drug delivery systems in collaboration with large size companies and MNCs.
Neuland will focus on discovering new products and markets. It will ensure that the company gets well established in API segment and manufacture of bulk pharmaceuticals. It may venture into new product segments. It does not intend to venture into generics business. Neuland does not compromise on standards, and this has been the secret of its growth, Dr Rao said.
Neuland has two manufacturing facilities near Hyderabad. Both facilities comply fully with WHO cGMP standards. It's R&D facility was recognised by the Department of Science & Technology, Government of India, in 1992. The company is recognized by the Govt. of India as an export house. The company has supplied its products to customers around the globe. Prominent markets include USA, Canada, Germany, France, United Kingdom, Italy, Korea, Japan, Taiwan, Australia, South Africa, Turkey, Jordan, Iran, Egypt, Brazil, Argentina, Mexico, and also East European countries. It is the first bulk drug manufacturing facility in Andhra Pradesh to receive ISO 9002 certification. It is the largest manufacturer of Albuterol Sulfate (Salbutamol Sulphate) in the world with US FDA approval and Certificate of Suitability from the European Department for the Quality of Medicines, Council of Europe.