Hetero Drugs Bags $10 Million Order From Brazil Govt

Hetero Drugs Ltd, part of Rs 500 crore Hetero group that focusses on anti-AIDS drugs, has received a $10 million order from the government of Brazil for supply of two latest anti-AIDS drugs -- Lopinavir and Ritonavir. The order will be executed over the next one year.

With the supply of these two drugs, which are patented by Abbott Laboratories, the company hopes to increase its exports to Latin American countries.

Hetero is one of the major suppliers of anti-AIDS drugs for Latin American markets. "Of the Rs 189 crore of our exports to Latin America during the current year, the share of anti-AIDS drugs was Rs 120 crore," M Srinivas Reddy, director of Hetero, said.

"We were the first company from India to enter the anti-AIDS drugs export market. Before our entry in 1997, Brazil had an annual budget of $600 million to offer treatment to 1 lakh patients. Now, the Brazilian government is able to offer treatment for 7 lakh patients with a budget of $300 million," Reddy added.

A closely-held company, Hetero was promoted by B Pardha Saradhi Reddy in 1993. The company produces 13 anti-AIDS drugs out of the 14 drugs available worldwide. The company occupies second position, next to Cipla, in the Rs 25 crore Indian anti-AIDS drugs market.

The company also produces bulk drugs over a wide range of therapeutic categories with five products approved by US FDA. It has also established a research foundation with an investment of Rs 25 crore for the development of non-infringing, cost-effective processes and custom synthesis contract research.