Emcure Pharma eyes to be among top 5 drug firms: Official
New Delhi: Emcure Pharmaceuticals is aiming to be among the top five drug firms in the country in the next five to seven years as it also eyes acquisitions for growth going forward, a top company official said.
The company is currently developing mRNA vaccine for COVID-19 through its subsidiary, Gennova Biopharmaceuticals.
"We are now currently in the top 10 pharma companies in India and I would like to take the company to the top 5 in the next five to seven years for sure. That is one thing which is the driving force for me...," Emcure Pharmaceuticals Managing Director and CEO Satish Mehta told PTI.
The company will continue to look for acquisitions for growth, another important growth opportunity will be in-licensing, going forward, he added.
The key focus segments where the company has significant presence are gynecology, cardiovascular, HIV, nephrology, oncology, anti-infectives, vitamins, and minerals, Mehta said.
On being asked about the status of the vaccine, company's subsidiary Gennova is developing for COVID-19, Mehta said, "We are developing the vaccine and have completed the phase-1 trials. We are currently in the process of evaluating the results for safety and efficacy, and very shortly we should be submitting the findings to the Central Drugs Standard Control Organisation (CDSCO) and then we will go for phase-2 and phase-3 trials."
The government expects the company to provide 60 million doses by the end of year and "we will put our best foot forward, subject to approvals from the government", he added.
Mehta, however, did not provide any timeline for the launch of the vaccine.
When asked if the company has any plans for ramping up the manufacturing capacity, Mehta said, "In the field of pharma formulations, expanding the manufacturing facility can be done in 2 to 3 years time, what is more required is marketing and demand for your products, once that happens the facilities can always be ramped up capacities".
The company is now in 70 markets globally and the reason for doing well in all these markets is due to focus on research and development. he added.
Emcure Pharma is looking for a Rs 4,000 crore initial public offering and plans to file a draft red herring prospectus (DRHP) for the same, in next 10 days.
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