Pfizer eyes 13-14% revenue growth in FY12

Pfizer, the Indian unit of drug maker Pfizer Inc, is eyeing a 13-14% growth in its revenues in the current fiscal, a senior company official said today.

"The pharma industry is growing at around 14%. We see a similar growth trend in our revenues for the fiscal 2011-12," the company's Chief Financial Officer and Finance Director S Sridhar told PTI after the company's annual general meeting here today.

At present, the Indian pharmaceutical market has achieved 15.3% growth with volumes contributing 7.6%, new products contributing 6.5% and price 1.2%.

"A significant proportion of the growth has come from increased volumes by revitalising growth of core brands. We introduced around 20 new products in the last two years. They have contributed to around 3% of our current revenues. Going forward, we expect the share to increase to 15%," he said.

The company's Managing Director Kewal Handa told the shareholders that the key brands like Becosules and Dolonex had significantly increased market share.

"Brands like Gelusil and Claribid which are key products in their segments have also over-performed their segment growth," Handa said, adding, "Aggressive investment in geographic expansion, increased focus on key prescriber's and emphasis on performance management has resulted in increased market share of these brands".

In addition to new products, the company also entered into chronic segments such as neuroscience which is one of the fastest growing markets in India.

"Given the high prevalence of neuropsychiatric illness and low awareness and diagnosis, this segment can accelerate growth of the company," he said.