The Hyderabad-based Aurobindo Pharma has acquired TAD Italy, a generic Italian company with 70 ready to market products. The acquisition will help Aurobindo enter into the Italian generic market, in a big way.
The size of the deal was not disclosed.
"This deal will provide us with a ready local platform and will help us is immediately maximising the potential of our vast internal pipeline which is to follow in the next few months. Aurobindo has already flied 22 products for registration in Italy", commented Ashish Menocha, Aurobindo's
Regional VP, Europe.
During the integration process, Aurobindo expect to derive maximum synergies from the acquisition by shifting the manufacturing of TAD's products to its own facilities in Hyderabad, the company said in a press release.
Buy Microsoft Products with us and Save upto 60%
Monday, March 24, 2008
Aurobindo acquires Italian generic company
Tuesday, March 4, 2008
Indian drug firms top filings with USFDA
| Indian pharma companies have filed the maximum number of drug master filings (DMFs) to the US Food and Drug Administration (US FDA) in October-December 2007 quarter. |
| The total number of DMFs filed to the US FDA in the last quarter was 187, Indian companies alone filing for 89 DMFs, according to data gathered from analysts and industry sources. Indian DMFs filing accounting for 47.6 per cent of the total DMFs filed in the last quarter. |
| DMFs are confidential, proprietary assets that present to the US FDA the formulae, processes, test methodology, and other data relevant to the manufacture of products used in the composition, packaging and processing of pharmaceuticals or biologics. DMFs filings from the Chinese pharma players to the US FDA amounted to less than 20. |
| Amongst the Indian pharma players, Ranbaxy has filed 13 DMFs to the US FDA in the last quarter, while both Dr Reddy’s and Aurobindo Pharma filed 10 DMFs, add analysts. |
| Ranbaxy is understood to have filed a DMF for cilastatin to the US FDA in the last quarter. Analysts say Cilastatin is not a drug in itself, it is administered along with the antibiotic imipenem, to prevent the latter from being inactivated by the enzyme dehydropeptidase. |
Friday, February 1, 2008
Aurobindo gets USFDA nod for generic Imitrex
Aurobindo Pharma has received the US Food & Drug Administration (FDA) nod to market sumatriptan succinate in the United States. The acute migraine and headache drug, which will come out in the 25mg, 50mg and 100mg tablet forms, is an identical version of GlaxoSmithKline's (GSK) Imitrex.
According to an IMS Health data, annual sales of the formulation in the US were approximately $950 million in 2007.
This is Aurobindo's 63rd abbreviated new drug application (ANDA) approval from the USFDA.
GSK had settled patent litigations with Ranbaxy Laboratories and Dr Reddy’s Laboratories over manufacturing generic versions of Imitrex. The companies will sell authorised generic versions of Imitrex in late 2008 before GSK's patent on Imitrex expires in February, 2009.
Wednesday, January 30, 2008
Q3 Results Update - Part 1
Bajaj Auto Q3 consolidated net down 17%
Bajaj Auto today reported a 16.60% decline in consolidated net profit at Rs 273.82 crore for the quarter ended December 31, 2007 when compared with Rs 328.35 crore in Q3FY07.
According to a release issued to the Bombay Stock Exchange, net sales and income from operations declined to Rs 2,633.26 crore for the quarter ended December 31, 2007 from Rs 2,696.03 crore for the quarter ended December 31, 2006.
The company, on a standalone basis, reported a 5.32% decline in net profit at Rs 326.81 crore for the quarter ended December 31, 2007 as against Rs 345.19 crore in Q3FY07.
Total income declined from Rs 2,729.18 crore for the quarter ended December 31, 2006 to Rs 2,680.35 crore for the quarter ended December 31, 2007.
Sun Pharma Q3 net up 60%
Sun Pharmaceutical Industries today reported a 60.09% increase in net profit after minority interest at Rs 318.35 crore for the quarter ended December 31, 2007 as compared to Rs 198.85 crore in Q3FY07.
According to a release to the BSE, the company's total income has increased to Rs 821.88 crore for the quarter ended December 31, 2007 from Rs 603.59 crore for the quarter ended December 31, 2006 .
Mahindra & Mahindra PAT up 68%
Mahindra and Mahindra today announced a 67.63% increase in profit after tax (PAT) on a stand-alone basis at Rs 405.15 crore for the quarter ended December 31, 2007 as against Rs 241.68 crore in Q3FY07.
According to a release to the BSE, the company's total income increased to Rs 2,980.25 crore for the quarter ended December 31, 2007 from Rs 2,617.30 crore for the quarter ended December 31, 2006
Aurobindo Pharma net dips 8%
Hyderabad-based generic pharmaceuticals and active pharmaceutical ingredients (APIs) manufacturer, Aurobindo Pharma, witnessed a slight decline of 8% in net profit at Rs 55.25 crore for quarter ended December 31, 2007 when compared with Rs 60.12 crore in Q3FY07.
The company's total income grew 7.35% to Rs 549.52 crore for the quarter ended December 31, 2007 from Rs 511.86 crore for the quarter ended December 31, 2006.
Tata Chemicals Q3 PAT dips 42%
Tata Chemicals today announced a 41.55% dip in net profit after tax (PAT) of Rs 91.09 crore for the quarter ended December 31, 2007 as compared to Rs 155.85 crore in Q3FY07.
According to a release to the Bombay Stock Exchange, the company's total income has decreased to Rs 1712.67 crore for the quarter ended December 31, 2007 from Rs 1,793.70 crore for the quarter ended December 31, 2006 .
The company has, however, on a stand-alone basis, posted a PAT increase of 7.45% at Rs 125.48 crore for the quarter ended December 31, 2007 when compared with Rs 116.77 crore in Q3FY07.
The company's total income has decreased to Rs 1,236.52 crore for the quarter ended December 31, 2007 from Rs 1,318.81 crore for the quarter ended December 31, 2006 .
Monday, December 17, 2007
Aurobindo to invest $1billion to enhance European presence
Hyderabad-based pharma company Aurobindo Pharma, which has plans to emerge as a billion dollar company by 2009-10, is enhancing its presence in Europe by investing $100 million in phases.
The company is likely to buy two pharma companies worth Euro 10 million each, open offices in 10 countries and establish a packaging, warehouse and manufacturing hub in Malta.
Besides Europe, Aurobindo may make strategic investments worth $10 million in the Gulf Cooperation Council (GCC) countries. Its upcoming active pharmaceutical ingredients (API) manufacturing plant at Annapolis in Brazil will cost of $8 million.
“All this will be completed in a year’s time,” Aurobindo chairman, PV Ramprasad Reddy, said, adding that talks to buy two European companies were in advanced stages. Aurobindo is also holding talks with six companies in the GCC countries to finalise partnership deals.
The company may start commercial operations of two anti-diabetics products in the US by the second quarter of the next financial year. It already has a manufacturing unit in New Jersey.
With over 117 filings to its credit, the company has emerged as a leader in filing drug master files (DMF) for APIs in the US. The company has filed over 107 abbreviated new drug applications (ANDAs) in the US.
“Our operations are also picking up in South Africa, where our sales turnover is expected to touch $3 million this year,” Reddy said.
Aurobindo has been focussing on the formulation business for some time. Its Rs 1,000 crore investment in R&D and manufacturing infrastructure in the last four years has started yielding results. The company achieved formulation sales of Rs 697 crore in 2006-07 against Rs 274 crore in 2005-06 on a consolidated basis.
Aurobindo may post a consolidated turnover of Rs 2,500-2,700 crore in the current financial year against Rs 2,250 crore during 2006-07, according to Reddy.
Besides the overseas projects, Aurobindo is setting up a Rs 170 crore formulation unit in two phases in a special economic zone of the Andhra Pradesh Industrial Infrastructure Corporation near Hyderabad.
Aurobindo’s product portfolio is spread across six therapeutic areas.
Reddy said the company’s ARV (anti-retroviral) business was expected to grow 50 per cent, from $10 million to $15 million per month, next year. Being an integrated player, the company does not expect any significant growth in the API business due to captive consumption.
