Aurobindo Pharma eyes $2 billion revenues in FY15

The drug maker also hopes to seek approvals for nine more injectables from US FDA

Aurobindo Pharma aims to achieve $2 billion turnover during the current financial year.

The city-based drug maker also hopes to seek approvals for nine more injectables from US FDA.

"Leveraging on its large state-of-the-art manufacturing infrastructure for APIs and formulations, wide and diversified basket of products and confidence of its customers, the company aims to achieve $2 billion revenues by 2014-15," Aurobindo Pharma said in its latest annual report.

The consolidated revenue (net) from operations was higher over the previous year by 38.3% at nearly Rs 8,100 crore ($1.4 billon at Rs 58 per dollar) during 2013-14 as against Rs 5,855 crore in the previous year.

"In the injectable business, going forward, we are gearing ourselves for a meaningful growth in the medium term. We have 45 files with FDA under review, and we hope to file 9 more in 2014-15 and another 30 in 2015-16.

"Hence, depending on the timing of the regulatory approvals, we could see significant growth over the next two to three years," it further said.

The company said it has achieved a remarkable milestone of 300 submissions to the US FDA at the end of 2013 and as at end of March 2014 the submissions totaled 336 ANDA filings.

With regard to the long term growth strategy, Aurobindo said it plans to penetrate into the markets, such as Japan, Brazil and other Latin American countries through joint ventures or subsidiaries or organic means.

On the acquisition of certain commercial operations in Western Europe from Actavis plc, Aurobindo said the objective is to expand the front-end operations into five segments (generics, prescription products, over-the-counter products, hospital products and generics tenders) with approximately 1,250 dossiers and an additional pipeline of over 200 products.