Aurobindo Pharma has reported a net profit of `635.8 crore in Q1FY20 against `455.7 crore in the corresponding period previous year, witnessing a growth of 39.5% year-on-year, fuelled by a 42.3% increase in the US revenues and ARV formulation business. Revenues stood at `5,444.6 crore against `4,250.3 crore and witnessed a strong growth of 28.1% over the corresponding period last year.

“We have started the year with a healthy performance. Enhancing our quality management practices and adhering to the regulatory requirements continue to be our highest priority. During the quarter, we have commissioned Eugia’s manufacturing facility and launched five oncology and hormonal products in the US market. Our differentiated product basket is progressing well and we are in the process of starting clinical trials for our first biosimilar in Q2FY20,” said N Govindarajan, MD.

The formulation revenues for the quarter recorded a growth of 34.6% y-o-y to `4,712.0 crore and accounted for 86.6% of total revenues. The US revenue for Q1FY20 witnessed a growth of 42.3% y-o-y to `2,688.4 crore, accounting 49.4% of consolidated revenue. On constant currency basis, revenue grew by 36.9% y-o-y. The company has filed 12 Abbreviated New Drug Application (ANDA) with USFDA including three injectables in Q1FY20 and received final approval for nine ANDAs, including six injectables in Q1FY20.

The company has launched 15 products including four injectables during the quarter. As on June 30, 2019, on a cumulative basis, the company filed 551 ANDAs with USFDA and received approval for 412 ANDAs including 26 tentative approvals.

The anti-retro viral (ARV) formulation business revenue for Q1FY20 was at `318.5 crore against `155.6 crore in Q1FY19, witnessing a robust growth of 104.7%, and accounted for 5.9% of revenue. The growth markets posted a strong growth of 22.2% y-o-y to `313.4 crore. Meanwhile, the active pharmaceutical ingredient (API) business clocked a sales of `732.2 crore against `748 crore in the corresponding period of previous year. The company filed eight Drug MasterFiles (DMFs) with USFDA during the quarter.