Strides Arcolab Ltd, a specialty pharmaceuticals company with presence in generics, OTC and nutraceuticals, has notched up impressive performance during the third quarter ended June 2004 mainly on account of focus on regulated markets, change in product mix to include high value added products and an aggressive formulation development initiative.
The company earned a net profit of Rs 10.25 crore as against a net loss of Rs 1.36 crore in the corresponding period of last year. Its net sales moved up by 29 per cent to Rs 58.71 crore from Rs 45.53 crore. The earning per share for the quarter under review worked out to Rs 3.04 as against negative Rs 0.44.
For the nine months ended June 2004, the company's sales touched to Rs 173.78 crore as against Rs 136.08 crore in the corresponding period of last year. It earned a net profit of Rs 18.23 crore as against a loss of Rs 5.77 crore during first nine months ended June 2004.
The company's business thrust in the regulated markets is paying rich dividends through higher contribution to sales and new customers. For the nine months period on a consolidated basis, regulated markets have contributed 23 per cent of total income. During the quarter under review, the Company has added new customers and signed new development contracts in the regulated markets.
The new R&D centre at Bangalore, STAR (Strides Technology & Research) is likely to be commissioned shortly. The R&D centre will focus on developing proprietary technologies in product formulations (NDDS & non infringing process management), Matrix technology in softgels (US patent received, validated and licenced).
Recently, World Health Organisation (WHO) had approved Lamivudine 150 mg tablets of the company.
Strides Arcolab has a global presence in more than 50 countries. The company has manufacturing facilities in India, Brazil, Mexico and USA. It supplies to a number of geographic locations including Latin America, UK, South East Asia, Africa, Australia and Russia. The Indian manufacturing facilities for the regulated markets are approved by all major regulatory bodies like MHRA / EU / TGA and MCC. The US facility is FDA approved.