Aurobindo Pharma is expecting the USFDA to inspect its antibiotics production plant in Hyderabad between July and September this year as it seeks lifting a ban imposed by the American health regulator.
The drug firm's exports to the US market have been affected due to the import alert issued by the US Food and Drug Administration (USFDA) for its Unit-VI facility since last year following manufacturing norms violation.
"..As far as Unit-VI is concerned we have already submitted our letter to FDA requesting them to inspect and we expect the inspection to happen anywhere between July to September," Aurobindo Pharma CEO (API & CRAMS) N Govindarajan said in an analyst call.
The USFDA had audited the cephalosporin facility, Unit VI of Aurobindo Pharma located at Chitkul Village, Hyderabad, in December 2010. Since then the facility has been banned from exporting medicines produced there to the US.
Commenting on the growth prospects of the company this fiscal, he said Aurobindo is looking to grow in double digits in the current fiscal.
"...I would say that definitely it would be far better than what we have grown last year...It would be on the higher double digit is what we are looking at in terms of in the range of 15-20%," Govindarajan said.
Last fiscal the company had posted a consolidated net sales of Rs 4,550.56 crore, up 5.09% from the previous financial year.
Shares of Aurobindo Pharma today closed at Rs 110 on the BSE, up 0.82% from its previous close.