Drug firm Aurobindo Pharma is looking to launch around 200 products in Europe in next four years to add to the company’s product portfolio going forward.
“The next lever of growth will come from the new products which are being developed. Currently, we have almost 200 products under development for Europe alone and that will be launched over next three to four years,” Aurobindo Pharma COO & Head Formulations Sanjeev Dani told analysts.
That will be the driver of growth in Europe, he added.
For the first quarter of FY16-17, the company’s Europe formulations sales were at Rs 831.2 crore registering 12.1 per cent growth year-on-year. In the formulations segment, EU market accounted for 22 per cent of total sales in the category in the Q1 FY16-17.
During the first quarter, Aurobindo had transferred manufacturing of four products from Europe to India.
The company has also received the European GMP approval last quarter for its Vizag facility and started receiving product by product approvals. It expects to ship out on a regular basis from January next year.
The homegrown major also expects to launch 19 approved products that have an addressable market of USD 6.8 billion in the US in the next three quarters.
“We have 19 product families that are approved, that will be launched over the next three quarters and that is for approvals that we have on hand today,” Aurobindo Pharma USA CEO Robert Cunard has said.