Alembic Pharma posts Q4 net of Rs 35 cr as India and US businesses grow

Alembic Pharmaceutical Ltd. (APL) posted a net profit of Rs 35 crore for the quarter ending March 31, 2022 after charging off non-recurring expenses of Rs. 188 crore, gaining from growth in its India and US businesses.

The company's India branded business was up by 25 per cent year-on-year (YoY) in Q4 of FY'22 at Rs 449 crore, up from Rs 358 crore in Q4 of previous fiscal year. APL's US generics business also grew by 17 per cent to Rs 557 crore in Q4 of FY'22 as against Rs 475 crore in Q4 of FY'21.

During the quarter, Alembic Pharma's US portfolio strengthened with the acquisition of the balance 40 per cent stake in Aleor Dermaceuticals, making it a wholly owned subsidiary of the company, managing director Pranav Amin stated.

Shaunak Amin, managing director of Alembic Pharmaceuticals Limited, said the Indian business grew across most of products and therapy areas.

However, APL's overseas formulations business excluding the US fell by 29 per cent to Rs 188 crore in Q4 of FY'22 as against Rs 233 crore in Q4 of FY'21. On the other hand, its active pharmaceutical ingredients (API) grew only marginally by four per cent to stand at Rs 222 crore in the quarter.

In its international generics business, the company filed 23 abbreviated new drug applications (ANDAs) in FY'22 even as 23 ANDA approvals were received, taking cumulative ANDA filings to 230 and approvals to 160, respectively. During the fourth quarter, APL also filed three drug master files (DMFs) in its API business.