Anuh Pharma, the manufacturers of Macrolides and Anti-TB products in India has recently confirmed that the company has received a pre-qualification for the product Sulfadoxine from WHO. After the news confirmation, the stock price of the company surged at Rs 320 from Rs 311.90 at BSE.
As reported by moneycontrol.com, it already received approval for Sulphadoxine in Europe for veterinary use. “This will open an opportunity of about 150-200 metric tonne per year,” said Anuh MD Bipin Shah, adding that he expects revenues of USD 5 million on an annual basis from the product. The company will be export the product to Europe as well as several other countries around the globe.
Only last week the company has announced its plans to launch a new manufacturing facility in Maharashtra. Complimenting the launch will be launch of 4 new drugs in Cardio Vascular and Anti Convulsant segments by FY17.
Speaking to CNBC-TV18, Bipin Shah, MD , says that launch of six new products will be the key growth driver in FY17. “The existing products are also growing at the rate of about 20 percent on topline and 14 percent on bottomline,” he adds.
Shah says current capacity utilisation is around 70 percent and he expects it to increase by 20 percent annually even after the commissioning of the new plant. Anuh has a market share of 8-9 percent in Indian bulk drug production and it is aiming for a minimum 20 percent market share in five years, he says.