Aurobindo Pharma net profit up 45.2% at Rs 849.8 crore in Q4

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Published: June 4, 2020 3:10 AM

The US market revenue witnessed a growth of 20.5% y-o-y to Rs 2,990.3 crore, accounting 48.6% of consolidated revenue.

For the quarter, formulation revenue registered a growth of 23.5% to Rs 5,401.2 crore. (Representative image)For the quarter, formulation revenue registered a growth of 23.5% to Rs 5,401.2 crore. (Representative image)

Aurobindo Pharma has posted a 45.2% increase in its net profit to Rs 849.8 crore for the fourth quarter, against Rs 585.4 crore during the same quarter in FY19, following growth across geographies with diversified product basket. Revenues stood at Rs 6,158.4 crore, a growth of 16.4% over the corresponding previous period.

Revenue from formulations recorded a growth of 23.9% y-o-y to Rs 20,011.9 crore and accounted for 86.6% of total revenues. For the quarter, formulation revenue registered a growth of 23.5% to Rs 5,401.2 crore.

“The new fiscal year has begun with lot of challenges that the globe and industry had never witnessed. We are committed in protecting the health and well-being of our employees, their families and other stakeholders. We are proud of our employees and other stakeholders for their commitment during the crisis for ensuring the business continuity. We have closed FY20 with a healthy performance in Q4. The growth was seen across all our geographies. Diversified product basket has helped us to maintain the growth momentum in our core geographies like US and Europe. We remain focused on strengthening our existing businesses, developing a differentiated and specialty product basket and regulatory compliance,” N Govindarajan, MD, said in a statement.

The US market revenue witnessed a growth of 20.5% y-o-y to Rs 2,990.3 crore, accounting 48.6% of consolidated revenue. The company has filed 17 abbreviated new drug application (ANDAs) with the USFDA, including 10 injectables in Q4FY20 and 55 ANDAs, including 19 injectables in FY20. It has received final approval for six ANDAs in Q4FY20 and 22 ANDAs including eight injectables in FY20. As on March 31, 2020, on a cumulative basis, the company filed 586 ANDAs with USFDA and received approval for 425 ANDAs including 28 tentative approvals. The company has launched four products during the quarter. For the year, the company launched 34 products including seven injectable products

The anti-retro viral (ARV) business revenue was at Rs 1,251.5 crore compared to Rs 972.5 crore, an increase of 28.7% y-o-y and accounted for 5.4% of revenue. Revenue from growth markets formulations in FY20 posted a growth of 13.5% y-o-y to Rs 1,355.1 crore and accounted for 5.9% of revenue. The API business clocked a revenue of Rs 3,083.4 crore and contributed 13.4% to the consolidated revenues. The company filed one drug master file (DMF) with the USFDA during the quarter and 12 DMFs in FY20.

Meanwhile, the company transferred its biosimilar business, its related R&D and manufacturing facilities to its wholly-owned subsidiary, CuraTeQ Biologics. It is engaged in the business of R&D in recombinant biologics product development, especially in areas of biosimilars, drug substance development, proteins formulations, etc and commercialisation of products of its own or third party.

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