Aanjaneya Lifecare receives Certificate of Suitability for two Bulk Drugs

Bags orders worth Rs. 60 crores from Wockhardt, Cipla, Remedica, Tanzania Pharmaceutical Ltd, Activo SA & Pharmed Europe Ltd.

Highlights:

• Certificate of Suitability (CEP) from EDQM for two of its Bulk drugs Quinine Sulphate & Quinine Hydrochloride
• Certification opens the gates for a huge market in Europe
• New orders to increase sales by 20% and EBIDTA by 5%

Mumbai based Aanjaneya Lifecare Limited received the Certificate of Suitability (CEP) from EDQM for two of its Bulk drugs Quinine Sulphate & Quinine Hydrochloride. As one of world’s largest producers of Quinine Salts, this certification opens the gates for a huge market in Europe for Aanjaneya Lifecare Limited. The anti-Malarial segment is fast growing segment with large generic players from Europe including Teva, Actavis, Sanofi Aventis, Mylan etc being the dominant players. Aanjaneya has commenced supply of product Quinine Sulphate to pharmaceutical major Teva earlier this year.

In a significant other development, Aanjaneya has bagged new orders from Wockhardt for their Brand Recodex and four other clients. The company has confirmed order book of rupees 60 crores from new clients such as Wockhardt, Cipla, Remedica, Tanzania Pharmaceutical Ltd, Activo SA and Pharmed Europe Ltd. to be executed within next two months. The Company has seen impressive growth in its formulations business in pain management, cough cold, herbal and anti-Malarial segments. It is estimated by the Company that these new orders from new clients will have a positive impact by over 20% in sales and 5% on EBIDTA margins this financial year

Commenting on the developments, Dr. Kannan Vishwanath, Chairman, Aanjaneya Lifecare Ltd. mentioned that “we have entered into a fast trajectory of growth envisaged in our long-term blue print of making Aanjaneya as a global leader in certain product categories. We are ahead of curve when compared to the assurances that we have given to our stakeholders during our recently concluded IPO. We believe that are a lot of opportunities ahead and Aanjaneya is perfectly poised to exploit them.” 

About Aanjaneya Lifecare Limited:
Aanjaneya Lifecare Limited is a vertically integrated company having state-of-the-art; WHO GMP approved facilities for manufacturing bulk drugs at Mahad and finished dosage forms at Pirungut near Pune. It is one of the largest contract manufacturers of codeine based cough syrups in India. The company exclusively manufactures the Codorex Brand of Zydus Cadilla and Codilite Brand of Tablets India Ltd. amongst others.

The company recently raised about 117 crores from its IPO and the funds are being used to built new capacities alongwith the refurbishing of Research & Development centre. The new facilities being created as part of CAPEX are using eco friendly, recyclable material and will be rated by LEEDS once completed, company sources informed. The Facilities being established will comply with the latest European & US guidelines. With new capacities to be added in next 6 to 9 months the company will be expanding operations in emerging markets of South East Asia, Africa & South & Central America and its domestic operation in branded generics segment.