IND-SWIFT NET CATAPULTS 137% in Q4
(Revenues from CRAMS contributes 32% of the Net Profit)
Pharma Major Ind-Swift Limited has registered 137% increase in profit-after-tax to Rs. 49.93 millions from Rs. 21.09 millions for the final quarter of FY 2003-04. The net profit for the financial year also augmented by 36.62% to Rs. 139.24 millions from Rs. 101.92 millions last year. With net sales for the quarter rising by 35%, the turnover for the year registered an increase of 18.9% from 1782.86 million to Rs. 2118.52 million. The Company also recorded an EPS of Rs. 30.11 for the year as compared to Rs. 23.19 last year.
Commenting on the performance Mr. V.K.Mehta said “ the major feature of this quarter performance has been the generation of the revenues from CRAMS business which contributed to 35% of the bottomline “
The Company earned a sum of Rs. 16 millions from the Contract Research Services from its International and domestic clients, under long term agreements, which has mainly contributed to the spurt in the net profit for the quarter . Company expects to finalise more such contracts in C-R-A-M-S in the near future .
During the quarter Company launched slew of high value products in the fastest growing speciality segments. It also awaits approvals for some new products slated to be launched in the near term .
Ind-Swift Limited has recently received nod for the first US patent for “Controlled Release Macrolide Pharmaceutical Formulations “developed in-house by the Research and Development department of the Company. The patent has been granted by the US patents and trademarks office in November, 2003. The patent is for the controlled release dosage form of macrolide antibiotic drug to be taken once a day against the conventional dosage form, which is required to be taken twice a day.
The Worldwide market of this drug is US$ 1.5 billion and the molecule goes off-patent in 2005 and its expected growth in volume terms would be more than 30% in terms of quantity.
Ind- Swift Ltd (ISL) is a research driven pharmaceutical company having world class expertise in finished dosage form medicines. ISL is one of the fastest growing Pharma company and ranked among the most promising pharmaceutical group in India by both IMS and ORG-Marg. Ind-Swift’s future business model envisages achieving leadership in the niche value-added specialized domestic pharmaceuticals market, and building a strong de-risked international business around its core strengths by Leveraging its IPR capabilities in NDDS & CRAMS . Post GATT Company is considering alliances for In-licensing and Out-licensing its products
Ind-Swift has demonstrated consistent high growth over the past years and it has invested heavily in research initiatives to ensure that it is on the leading edge of select therapeutic categories like Gynaecology, Cardiology, Diabetology and Paediatrics and thereby move up in the value chain.
To compete internationally, Ind-Swift is focusing on filing patents by developing non infringing process of finished dosage form based on Novel Drug Delivery Systems (NDDS) and developing non-infringing alternate manufacturing processes for active Pharmaceutical Ingredients.
Suprox-SR ( Isoxsuprine sustained release tablet ) Clarie-DT (Dispersible tablet of Clarithromycin) & Fexidine –Kid tab (Dispersible tablet of Fexofendine) are the main products launched by the Company under NDDS all of which were launched for the first time in India by the Company . The earlier products launched by the Company under NDDS are registering a growth of 25-50%.
Various products are planned to be launched in the future which are at different stages of the Research and Development. These new products are from the high growth therapeutic segments of Cardiology, Diabetology & Neurology. Two products each would be launched from these segments in the next financial year. Three products would be launched in the Anti-cancer segment and one each in Anti-Asthmatic, Anti-alcoholic, Anti-Diarroheal segments.
The Company also plans to further strengthen the marketing network which would result in higher growth levels and would substantially improve the bottomline of the Company. |