Akums Drugs and Pharma expects to touch Rs 10,000 crore turnover in next five years
Besides, the company is looking to cater to more clients in overseas markets, including Europe, over the next few years.;
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New Delhi: Leading contract manufacturing drug firm Akums Drugs & Pharmaceuticals plans to expand its presence globally and enhance product range as it looks to more than double its turnover to Rs 10,000 crore by 2028, as per the company's Joint Managing Director Sandeep Jain. The company, which produces around 12 percent of all the medicines consumed in the country from its 15 manufacturing facilities, has a topline of about Rs 4,000 crore currently.
Jain said the company would be able to achieve its stated financial targets even if it continues to grow at the same pace it has been doing over the last few years. He noted that the demand for pharmaceutical products is going to stay robust in the domestic market, with some estimates pointing towards the market doubling by 2030.
"We expect to touch a turnover of Rs 10,000 crore in the next five years (2028) from the current level of Rs 4,000 crore. Our plan is to keep growing by at least 12-15 (CAGR)," Jain said.
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