Aurobindo Pharma will soon be entering the $8-billion oral contraceptive market. The company would be initially targeting the US which accounts for about 45% of the total oral contraceptive market.
According to Ramprasad Reddy, chairman, the company?s manufacturing plant for oral contraceptives, an USFDA-approved facility, is expected to be ready in the next five to six months. ?We hope to launch the first generic oral contraceptive product during the first quarter of FY12 in the regulated markets,?? he said.
The company has more than $800 million in annual sales and has 15 manufacturing facilities for both API and finished dosage including 10 approved by the US Food & Drug Administration. A recent Datamonitor report says that the global market is worth $8 billion and is growing at a rate of 19%. However, the domestic market is relatively small (about Rs 95 crore), as per ORG-Marg studies. The market for contraceptives in the country is expected to see considerable growth within the next decade as new products are being lined up with the increasing awareness levels.