Hyderabad: Aurobindo Pharma Ltd has lined up about 20 product launches in the US market in the current financial year which may improve its margins.
This was disclosed by Robert Cunard, Chief Executive Officer, Aurobindo Pharma, US, in the recent earnings call.
“A big question is what the Food and Drug Administration (FDA) does as far as the review time is concerned. But for FY 14, we expect 16 to 20 oral solid launches in the US market,” he said.
Of these, three products were expected from the Hyderabad-based company’s Aurolife facilities in the controlled substance area and one in the over the counter segment, he added.
“We do expect that some the molecules/key launches will be of little higher margins and continue to drive our growth,” he said.
The revenue to be generated on the new product side should be similar to what was witnessed last year which was about 14 per cent of the company’s total revenue in the US.
LOSSES IN EUROPE
On the improvement in the performance of European subsidiaries which were incurring losses in the last two years, N. Govindarajan, Managing Director, said there could be some improvement.
The subsidiaries in the UK and the Netherlands became profitable last year and Spain and Germany would become positive during the current financial year.
The performance in Italy and Portugal might take some more time.
“Over all, all European subsidiaries put together, we will be making a profit in the next year,” he said.
Aurobindo Pharma posted consolidated net profit of Rs 108.6 crore for the fourth quarter ended March 31, 2013, almost same as in the year-ago period.
Its scrip dropped 0.83 per cent on the BSE on Friday to close at Rs 184.15.
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