Aurobindo Pharma plans to launch 200 products in Europe

The Dollar Business Bureau

Drug manufacturing company Aurobindo Pharma Ltd is planning to launch around 200 products in the European market in the coming four years in order to enhance the product portfolio of the company. 

“The next lever of growth will come from new products which are being developed. Currently, we have almost 200 products under development for Europe alone and that will be launched over next three to four years,” Sanjeev Dani, COO & Head Formulations, Aurobindo Pharma told analysts.

That will be the growth driver in the Europe, he added. 

In the first quarter of the fiscal 2016-17, the formulations sales of the company in Europe stood at Rs.831.2 crore witnessing a growth of 12.1 percent year-on-year. In the segment of formulations, the EU market makes up for 22 percent of overall sales in the category in the given quarter. 

During the Q1 of 2016-17, the company had shifted the manufacturing of its four products to India from Europe.

In the last quarter, Aurobindo also got the European GMP approval for its Vizag unit and started getting approvals product-by-product. The company expects to ship out regularly from January next year. 

The Hyderabad-based firm also expects to introduce 19 approved products, which have a total addressable market of around $6.8 billion in the US in the coming three quarters.

Robert Cunard, Aurobindo Pharma’s USA CEO has said that the company has 19 product families which are approved. These will be launched in the coming three quarters of the fiscal 2016-17.