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Medicines/Products by Categories
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Ind-Swift Limited’s net up 23% in Q1
A new marketing division to launch 12 products in Oncology
The pharma major Ind-Swift limited has registered 23% growth in net profits for the first quarter of the FY 2004-05. The Company registered a net profit of Rs 374.66 lacs for the first quarter against Rs 304.76 lacs registered last year in the same period, while sales grew by 18 per cent to Rs 5806.11 lacs compared to Rs 4912.59 lacs registered the previous year. The Company is able to post higher results despite substantial expenses on Regulatory and R&D costs .
For the quarter under review, the company incurred a total expenditure of Rs 5399.95 Lacs (Rs 4568.68 lacs). The R&D costs alone have increased by 38% from Rs.51.22 lacs to Rs 70.73 lacs in the previous quarter.
Interest cost during the quarter is Rs 149.35 lacs (Rs 164.24 lacs),Rs 30.36 lacs has been provided towards depreciation (Rs 22.47 lacs),Rs 30.46 lacs towards provision for current taxation (Rs 25.79 lacs).
The improvement in profitability of the Company is attributed to the reduction in input costs, driven by focus on strategic products resulting in better product mix, efficiencies in manufacturing and sourcing and control over all expenses across the Company.
Company has built facilities to cater to the CRAMS business . The last quarter saw 31% of the net profit coming from the CRAMS activities . Company is already in talks with leading pharmaceutical Companies for tie-ups for the CRAMS business. In next three to four years Company foresees 30-40% of the bottomline being contributed by the CRAMS business .
Reinforcing its R&D strength, the Company launched Nitazoxanide, an Anti-Diarroheal drug for the first time in India after the successful clinical trials of the drug .
Continuing its focus on the fastest growing, major critical care segments, The Company has launched a new division under the name RESURGENCE, the fifth marketing division of the Company under the name `RESURGENCE ' specifically dedicated to launch product in the Oncology segment .
Ind-Swift plans to focus on the Oncology segment, as 10-12 products are at different stages of development for launching in this segment in 6-12 months . As a backward integration, the molecules for the launch of the products in this segments are assured through the Company's promoted API Company, 'Ind-Swift Laboratories' which specializes in developing non-infringing processes and which has already applied for the patent for the non-infringing process of a molecule in the Oncology segment .
Ind Swift targets a growth in sales of 20% - 25% in next three years . The Company has already inducted 50 new field staff and plans to add 100 new field staff taking the total strength to 900 in near future.
As per IMS/ORG, Oncology is a rapidly growing segment having market of 100 crores with a growth trend of 11%.
Ind-Swift already has 4 marketing divisions, Ethical ( Gynae & Paediatrics ), Super Speciality ( Cardiology & Diabetology ), Healthcare , Biosciences which focuses on the specific therapeutic segments and which are growing at an average growth rate of 40-50%. With the proper marketing and distribution network in place, Ind-Swift foresees to achieve the similar growth targets in the new division also .
Ind Swift's future business model envisage achieving leadership in the high value NDDS drugs and the niche segments in the domestic pharmaceutical market. Ind Swift looks forward to launch new divisions to enter Nephrology and Neuropsychiatry with the specialized and dedicated field force for every segment. Ind Swift's future plan also holds to enter into the medical devices, ortho and dental equipments. Ind-Swift plans to have a nine marketing division with each division focusing on a select therapeutic category . Through introducing innovative products it plans to achieve a sales target of 325 crores with profitability of Rs. 35 crores in next three years. |
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