Laurus Labs eyes bigger play in generic formulations segment
City-based pharma player Laurus Labs is shifting gears. From being a predominantly active pharmaceutical ingredients (API) maker for anti-retroviral (ARVs) and Hepatitis C drugs, it is now eyeing a bigger play in the generic formulations space and expects to garner nearly 50% of its revenues from sales of finished dosage formulations (FDFs) in the next fiscal from just 1% last fiscal.
“Last fiscal (2018-19) formulations accounted for just 1% of our revenues and this year (current fiscal) we are targeting 22-23% revenues from FDFs. Next year (financial year 2020-21) we expect our revenues to be equally split between APIs and formulations,” Laurus Labs founder & CEO Satyanarayana Chava told TOI here.
He said the company is now focusing on formulations not only in the ARV segment but also diabetes, cardiovascular, gastroenterology (proton pump inhibitors) and neurology segments as well with markets like US, Canada, Europe and Africa on the radar. “We have already launched eight products commercially so far in these segments in these international markets,” he said, adding that the company has filed ANDAs for 21 generics with USFDA, of which it has received five final approvals and three tentative approvals.
Here he pointed out that eight years ago, nearly 80% of the company’s revenues used to come from only ARV API production and today the contribution of ARV APIs has come down to around 40% of revenues. “In the current fiscal, we expect the revenue split to be about 40% from non-APIs, including formulations and custom synthesis, and 60% from APIs,” he explained.