Page 151 - CW E-Magazine (16-1-2024)

Pharmaceuticals

declined to 35% in FY22 compared to duct launches for some companies, injectables) and incremental revenues
40% in FY20 owing to consistent pricing translating into failure to supply penal- from new tender wins in countries such
pressure, lack of major blockbuster ties and entailing signifi cant cost bur- as Germany in addition to 8.8% depre-
products going off-patent and increased den towards remedial measures includ- ciation of the Indian Rupee against the
regulatory scrutiny in the recent years. ing hiring consultants and consuming Euro in nine months ending December
additional management bandwidth, in 31, 2023.
With easing of pricing pressure, turn impacting the profi t margins,” he
signifi cant new launches and shortages added. ICRA foresees the research and
of some products, the same increased development expenses for its sample
to 37% in FY2023 and 38% in the fi rst ICRA expects the revenue growth set of companies to stabilise at 6.5-7%
half of FY24, the ICRA report said. of its sample set of companies in the of their revenues as the companies
domestic market to be 7-9% in FY24, will optimise their spending, focusing
Mr. Deepak Jotwani, Assistant supported by price increases and new more on complex molecules and
Vice President & Sector Head, ICRA, product launches. specialty products against plain vanilla
noted that the incidences of warning generics.
letters and import alerts issued by US The revenue growth of the sample
regulators to manufacturing facilities set of companies in the European mar- The report said leading Indian
of Indian pharmaceutical companies ket has picked up considerably in the pharmaceutical companies have made
have increased over the past year and current fi scal, largely on the back of a sizable strategic acquisitions in the
remain a key credit risk. low base, uptick in the base business recent past to enhance market share
(both branded and generics segment), in select geographies and therapeutic
“These have led to delays in pro- new product launches (especially segments.

WOMEN’S WELLNESS
Dr. Reddy’s acquires MenoLabs from Amyris

Dr. Reddy’s Laboratories Ltd. has ing community, education, and infor- addresses unmet needs of consumers
acquired MenoLabs, a women’s health mation about menopause. MenoLabs’ for science-based, research-driven pro-
and dietary supplements portfolio, from products are primarily marketed in the ducts that provide relief from the
Amyris Inc. The acquisition includes US through the brand’s website as well symptoms of menopause.
seven branded products tailored for as e-commerce platforms like Amazon
perimenopause and menopause symp- and Walmart. For these and many other reasons,
toms. I believe we are well-positioned to
“The acquisition complements successfully integrate and grow the
Additionally, the deal encompasses Dr. Reddy’s US self-care and well- business,” said Mr. Marc Kikuchi,
the MenoLife health tracker app, offer- ness business portfolio of brands and CEO, Dr. Reddy’s in North America.

Caplin Point Laboratories commits Rs. 700-crore

investment in Tamil Nadu

Caplin Point Laboratories Ltd. Laboratories along with its subsidiaries In return for this substantial invest-
said it has signed a Memorandum of Caplin Steriles Ltd. and Caplin One ment, the Tamil Nadu Government
Understanding (MoU) with the State Labs Ltd., has pledged an investment of has committed to providing necessary
Government during the Tamil Nadu Rs. 700-crore over the next fi ve years. infrastructure support and regulatory
Global Investors Meet, 2024. Thes investment is earmarked for assistance, adhering to applicable laws.
diverse projects spanning oncology, Caplin Group’s projects are expected to
Under the MoU, the Caplin group of active pharmaceutical ingredients, and generate a total of 1,500 employment
companies, which includes Caplin Point R&D facilities, the company said. opportunities.

Chemical Weekly January 16, 2024 151

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