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| Pharma cos look at double digit growth in Q2 of current fiscal |
| Vijay C Roy / New Delhi/ Chandigarh Oct 20, 2009, 00:45 IST |
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The region-based pharma companies are upbeat and expect to post a double digit growth rate in the second quarter of the current fiscal year. They further apprehend that they would be able to sustain the same growth by the end of this fiscal year.
Talking to Business Standard, Ind Swift Ltd managing director and CEO G Munjal said, “We would be able to achieve a growth of 14 per cent to 15 per cent over the previous quarter. We are upbeat over the current trend and expect our growth rate by the end of this fiscal year to hover around 15 per cent.”
Ind Swift Ltd is a part of Ind Swift Group, which is one of the leading research driven pharmaceutical groups of India having presence across 45 countries, with two listed entities, Ind-Swift Limited (manufacturer of finished dosages) and Ind-Swift Laboratories Ltd (manufacturer of Active Pharmaceutical Ingredients and Advanced Intermediates). The company has facilities to manufacture various dosage forms including oral solutions and suspensions, dry syrups and hard gelatin capsules (General and Beta-lactam), tablets (general, coated, sustained release and effervescent forms), dermatologicals comprising of creams, ointments and gels, eye and ear drops and injectables (Ampoules and vials).
Echoing similar sentiments, Punjab-based Surya Pharmaceuticals Ltd is upbeat over the quarter two numbers. “ I can’t disclose the numbers, as it is too premature to say. But I can say we are upbeat over quarter two results, “ said Hari Om Bhatia, President, Corporate Finance, Surya Pharmaceutical Ltd.
Surya Pharmaceutical Ltd, a company engaged in manufacture of APIs, intermediates, formulations and mint-based products has achieved gross sales of Rs.752 crore in the financial year 2008-2009 (April-Mar.), a 45 per cent rise compared with the previous fiscal. Further, it has posted a growth of 35 per cent in the first quarter of the current fiscal. The growth in topline is attributed to focused marketing effort in existing business lines and new product category of mint-based products.
The company is setting up a greenfield in Jammu to manufacture API, injectibles etc. The company is also in advanced stage of identifying and concluding negotiations with companies in India and overseas for acquisitions.
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