Anuh Pharma, the manufacturers of Macrolides and Anti-TB products in India 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.
The new facility at the Tarapur Industrial Area is reported to be under construction, and is proposed to be commissioned in the FY17. Regarding the new drugs, identification of new molecules and therapeutic areas is under process.
The company acquired additional 7,800 square meters land at Plot No. E-18 in the Tarapur Industrial Area of MIDC connecting to the existing Factory for expansion purpose, as reported by Indiainfoline.
“Identification of new molecules and therapeutic areas is currently underway and will drive the next leg of growth over the medium to long term, while boosting utilization levels in the short run,” said the company.
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.
Part of the Rs. 8.5 billion SK Group, Anuh Pharma’s immediate focus shall be on exploiting the current product approvals in Europe which offer a US$ 15 million opportunity.
Anuh Pharma Ltd is currently trading at Rs. 319.8, up by Rs. 8.7 or 2.8% from its previous closing of Rs. 311.1 on the BSE.