Largest Ibuprofen API maker eyes double revenue in next four years

As part of de-risking their business, they have started reducing the share of ibuprofen in their overall turnover, and add more popular products to the portfolio

Ludhiana-based bulk drug and chemical manufacturer IOL Chemicals and Pharmaceuticals, which has a one-third market share globally in painkiller drug ibuprofen active pharmaceutical ingredient (API), is looking to diversify its product basket to more than double its revenues in the next four years.

The company, however, does not wish to forward integrate to make formulations from these APIs. Sanjay Chaturvedi, executive director and CEO of IOL Chemicals, said they wanted to focus on the API business where they have a steady clientele and not get into formulation sales.

However, as part of de-risking their business, they have started reducing the