|
Aurobindo Pharma reported a total income of
Rs.2872.9 Millions (Rs.3076.1 Millions) for the
first quarter ended 30th June 2004. |
|
The gross profit before interest, depreciation
and exchange fluctuations has grown by 22.3% and
stood at Rs.502.7 Millions (Rs.411.2 Millions). |
|
The profit after interest, depreciation but
before exchange fluctuations has grown by 14%
and stood at Rs.319.3 Millions (Rs.280.5
Millions). |
|
After accounting for exchange fluctuation of
Rs.82.3 Millions, the net profit stood at
Rs.180.2 Millions (Rs.230.5 Millions). |
|
The comparative financial results
are as under: |
| |
(Rs. in Millions) |
| |
Q1 FY 04-05 |
Q1 FY 03-04 |
|
Gross profit before exchange rate
fluctuations |
502.7 |
411.2 |
|
Less: Interest |
73.6 |
60.0 |
|
|
109.8 |
70.7 |
|
Profit before exchange rate fluctuations |
319.3 |
280.5 |
|
Exchange rate fluctuation (loss)/gain |
(82.3) |
39.0 |
|
Provision for taxes |
56.8 |
89.0 |
|
Profit after tax |
180.2 |
230.5 |
|
|
The broad product mix strategy and accruing cost
efficiencies enabled the company to post an
impressive growth of 22% in gross profit before
exchange fluctuations inspite of the price
pressures in Pen G related products which
reduced the total turnover to Rs.2872.9 Millions
(Rs.3076.1 Millions), increased R&D expenditure
of Rs.87.8 Millions (Rs.43.4 Millions), and
increased depreciation of Rs.109.8 Millions
(Rs.70.7 Millions). |
|
Developments in R&D and
regulatory approvals: |
|
Aurobindo has achieved the land mark in its
efforts to enter regulated markets by receiving
the US FDA approvals for Unit 1 (APIs) and Unit
3 (Formulations). |
|
Aurobindo has been working on five major product
platforms (SSPs, Cephalosporins, CVS, CNS,
Antivirals) to develop a robust revenue model in
regulated markets. More than 15 products are
targeted in each product platform. Its
facility/product approvals received in the area
of Cephalosporins, CVS, CNS, Antivirals
platforms are important milestones in its
efforts to penetrate regulated markets. Four API
sites (Unit1, Unit 6, Unit 8 and Unit 11) are
going to be the back bone of API strategy. Five
formulation sites (Unit 3A/ 3B, Unit 6 B, Unit
12, JV at Los Angeles) will drive the
formulation strategy. |
|
The Company has
filed 5 DMFs and 2 ANDAs for the US markets.
Similarly the Company has filed 22 EDMFs/COS for
EU markets. |
|
The R&D strength has increased to 391 to create
the planned product portfolio. Eminent
scientists in the area of IPR, Chemical &
Formulation Research are driving the R&D. Eight
more patents are filed in the Q1 making the
cumulative filings to 77. Ten more DMFs/COS are
filed making the total filings to 41 in
regulated markets. The cumulative ANDAs/Dossiers
filed in US and EU increased to 6 (CNS -3 and
CVS – 3). Aurobindo is developing a broad
portfolio of ANDAs/DMFS in all five product
platforms, both in sterile and non sterile
products, using all the nine units. |
|
Top management professionals with successful
track record have joined Aurobindo operations in
US and EU to accomplish the marketing success. |
|
The growing scientific strength, robust product
mix with five product platforms and one of the
largest manufacturing infrastructure in
APIs/Formulations will position Aurobindo in a
unique position to exploit the potential in
injectable and oral formulations opportunity in
the world. |
PRESS
ROOM 
