Ind-Swift Limited granted two Indian patents
In its preprations for Post-2005 era, when Patents will be applicable, Ind-Swift Limited has got a major success. Ind-Swift has been granted two process patents from Indian Patent Office. One patent is a new salt of the Erythromycin derivatives which is characterized by Advance Solubility and Stability for use in all its Dosage form and other is a process patent for a tasteless , directly compressible complex of Anti-Histamine drug and its use in pharmaceutical formulations .
The estimated Global market for the molecules is US$ 4 billion . The Company had also filed the patent of these molecules in the NDDS form in US . While it has already received the patent for the Macrolide anti-biotic drug in November last and the US patent for the Anti-histamine drug is expected very shortly .
These are the leading molecules with world market of over US$ 4 Billion and US$ 2 Billion respectively and these molecules are growing annually at a rate of over 30% and 10% " Mr. Mehta claimed. " The presence of Ind-Swift Labs, a group Company, dealing in APIs, in the international markets, with an export turnover of over Rs. 600 millions, would facilitate the smooth entry of the ISL in the soft regulated and non-regulated markets " Mr. Mehta added.
The R&D is working to develop 10-12 products based on NDDS in next 3-4 years . Besides Ind-Swift is directing its efforts to introduce molecules for the first time in India in combination therapy which is a global practice now a days. Since most of blockbusters are facing patent expiry. Therefore combination therapy is an advance media to extend patent life.
R&D of the Company is being upgraded at a cost of Rs. 20 crores . Already company has 12 formulations based on NDDS.
Ind-Swift has targetted to file atleast 3-4 patents in 2004-05. The process for regulatory approvals for the group's manufacturing facilities is also at an advanced stage. Ind-Swift is directing its investments towards upgrading the manufacturing standards of the existing three cGMP compliant state-of-the-art manufacturing facilities and getting them approved from regulatory authorities. It is also contemplating a new 100% FDA approved EOU dosage form facility for which it has already started commissioning of project .
Ind Swift is in line to offer a very synergistic opportunity for partnership with MNCs for contract research & manufacturing world class products that involve substantially reduced R&D costs, as compared to their current expenditure.
Ind-Swift has created a healthy brand franchise in the domestic formulations market, having leading brands in the Gynaecology, Anti-infectives, Anti-allergic, Cardiology, Diabetology and CNS segments, covering 45 per cent of therapy segments in the industry.
Ind-Swift's strategy is to have a focussed product portfolio with top 10 brands (which constitute 52 per cent of formulation sales). The continued focus on introduction of new brands, based on NDDS technology, has led to development of strong brands. This is reflected in 32 per cent of formulation sales coming from brands ranked among the top five in their therapeutic segments.
It is also rapidly moving into high growth therapeutic segments like cardiology, anti-diabetes, and anti-histamines . These segments together contribute over 32 per cent of Formulation sales of the company.
Earlier the Company reported 22.94% increase in profit-after-tax to Rs. 37.46 millions from Rs. 30.47 millions for the first quarter of FY 2004-05. The net profit for the FY2003-04 also augmented by 27.22% to Rs. 129.67 millions from Rs.101.92 millions . With net sales for the quarter rising by 18.18%, the turnover for the year registered an increase of 19.61% from 1791.46 million to Rs. 2142.75 million. EPS for the year also rose to Rs. 29.26 compared to Rs. 23.19 last year. The Company has recently declared dividend of 20% for the year 2003-04. |