On the back of strong domestic and international business, Lincoln Pharmaceuticals Limited posted a 23.44 per cent rise in its consolidated net profit for the third quarter ended December 31, 2020 at Rs 13.48 crore, from Rs 10.92 crore in the same quarter last year.
The drug maker's consolidated total revenue also grew by 13.70 per cent to Rs 115.47 crore in Q3 of FY 2020-21, from Rs 101.55 crore in Q3 of FY 2019-20.
According to Lincoln Pharma's managing director Mahendra Patel, the growth in revenue and profit came on the back of strong domestic and international business. The company posted a 15.56 per cent growth in sales and a four per cent growth in exports. Moreover, the company's exports grew by 17.56 per cent year-on-year (YoY) basis for the nine months ended December 31, 2020 at Rs 212.47 crore.
"Geographical and product expansion coupled with operational efficiency contributing to the growth," said Patel while adding that Lincoln was in the process of expanding presence in Africa, South East Asian countries and exploring entry in EU.
"Expanding the product basket, company will be introducing 6-7 new products in the domestic markets and expects 20-25 new dossiers approval for the exports market."
To further complement its presence in the acute segment, the company is also building a portfolio in lifestyle and chronic segment especially dermatology, gastro and pain management and plans to introduce them in the EU markets. Currently exporting to over 60 countries, Lincoln Pharma plans to expand its reach to over 90 countries in the next 1-2 years even as it has bagged a EU approval and plans to enter the region soon.
Meanwhile, Lincoln Pharma has developed 600 plus formulations in 15 therapeutic areas and has a strong product/brand portfolio in anti-infective, respiratory system, gynaecology, cardio & CNS, anti-bacterial, ant-diabetic and anti-malaria, among others. The company has also filed more than 25 patent applications and has been awarded with seven patents.