Page 151 - CW E-Magazine (11-6-2024)

Pharmaceuticals Pharmaceuticals

CONTRACT MANUFACTURING FINANCIAL PERFORMANCE
Enzene launches new discovery services division Glenmark Pharma posts higher Q4 loss

Enzene Biosciences, a Pune-based us much earlier in the discovery phase Glenmark Pharmaceuticals widened Asia, MEA, LATAM and RCIS Region
CDMO (contract development and to expedite their progress to IND and its loss for the fourth quarter ended (RoW) came in at Rs. 752.80-crore as
manufacturing organisation) and a beyond. We anticipate even greater March 31, 2024 to Rs. 1,238.65-crore against Rs. 686.40-crore during the
subsidiary of Alkem Laboratories, has demand for these services in the com- in comparison to a loss of Rs. 549.49- same period last year, posting a growth
launched a new Drug Discovery ing year as the resurgence in biotech crore recorded during the same period of 9.7 percent on-year.
Division. The company said the division funding leads to more targets entering last year. It posted revenue from ope-
will help further expands its breadth discovery – with contract R&D em- rations at Rs. 3,062.95-crore, up 2.1 Glenmark Europe’s operations
of services to the biotech industry and powering them to advance more targets percent as against Rs. 3,000.51-crore revenue for the fourth quarter of FY24
complements its EnzeneX-equipped simultaneously. For our big pharma during the fourth quarter of FY23. The to regain our growth trajectory in the was at Rs 611.80 crore as against
biologics manufacturing site, which partners, in addition to running the company EBITDA stood at Rs 504.2- coming year.” Rs 607.80-crore, recording growth of
will open later this year in the US. integrated programmes, we provide the crore, up 26.7 percent on-year. 0.7 percent YoY. Mr. Saldanha com-
ratories set to be operational by July fl exibility to easily outsource non-core Formulations business mented, “We have made signifi cant
According to the company, its paten- and further expansions planned later in activities. In particular, we have seen Mr. Glenn Saldanha, Chairman and Sales from the formulation busi- progress in advancing our strategy of
ted EnzeneX technology is the fi rst the year. strong demand for high quality reagents Managing Director, Glenmark Pharma- ness in India in Q4FY24 was at building global brands. The success-
fully connected continuous manufac- and assay services that play a crucial ceuticals Ltd., said, “This past year has Rs. 939.10-crore as against Rs. 831.60-crore ful commercialisation of Ryaltris, our
turing (FCCM) platform validated for “By integrating its existing capabi- role across drug discovery and deve- been a period of signifi cant transition in the previous corresponding quarter, novel allergic rhinitis treatment, in
use in commercial biologics supply. lities in bioprocessing, product develop- lopment” commented Mr. Himanshu and transformation for Glenmark. We recording growth of 12.9 percent YoY. 34 markets worldwide is consistently
ment, and commercialisation with the Gadgil, CEO of Enzene Biosciences. successfully divested a majority stake gaining market share in these geo-
The new division’s discovery of- new discovery capabilities, Enzene is in Glenmark Life Sciences, concluding North America registered revenue graphies. Additionally, we have also
ferings will include antibody services poised to emerge as a fully integrated, Enzene will open its new $50-mn the year in a strong net cash positive from the sales of fi nished dosage formu- in-licensed two speciality products –
(target validation, discovery and engi- one-stop solution provider empower- New Jersey site later this year, which position. Our branded markets conti- lations at Rs. 755.70-crore for the quar- Winlevi and Envafolimab. As we
neering), reagent production ranging ing biopharmaceutical innovators to will also be the fi rst site in the USA nued to deliver robust growth, particu- ter ended March 31, 2024 as against continue to move up the value chain
from custom peptides & proteins to expedite their journey from discovery with a fully connected continuous manu- larly in Europe and other key inter- revenue of Rs. 862.80-crore for the pre- and enhance our product mix, we are
advanced modalities like plasmids, RNA to commercialisation,” the company facturing platform and will be staffed national markets. While we encountered vious corresponding quarter, recording confi dent of achieving signifi cant im-
and exosomes, and multi-platforms as- informed in a press note. by over 300 personnel. The CDMO some headwinds in our US business, a decline of 12.4 percent YoY. For the provement in our operating margins
says services. While fi nancial details has immediately available capacity to we remain optimistic about our ability fourth quarter of FY24, revenue from going forward”.
remain undisclosed, the new Discovery “There is a global shortage of produce complex proteins along with
Division will be located at Enzene’s biology services, and our clients are standard modalities via both CHO and
Pune facility, with new discovery labo- increasingly looking to collaborate with mammalian cell lines. Advent International receives 6-7 bids for Bharat

GROWTH EXPECTATIONS Serums
Sun Pharma expects high single-digit top line growth Around seven private equity fi rms, exit and it would be a full sale

in current fi scal including Blackstone and KKR, are process, the report noted.
reported to have submitted non-binding
Sun Pharmaceutical Industries Mr. Shanghvi said in an analyst call. He As per AIOCD AWACS MAT bids to acquire Bharat Serums and Vac- Bharat Serums is a bio-
expects a high single-digit top line growth noted that in the current fi scal, the drug March 2024 report, Sun Pharma is cines (BSV) from Advent International pharmaceutical leader in
in the current fi scal, according to Man- fi rm will be in the investment phase for ranked number one and holds an 8.5 in a deal valued at over $2 billion, a women’s healthcare, assisted
aging Director Mr. Dilip Shanghvi. The its several businesses. “This includes, percent market share in the over report in the Hindu Business Line said reproductive treatment,
Mumbai-based fi rm reported a consoli- but not limited to, product launch costs Rs. 1,970-bn Indian pharmaceutical quoting unnamed sources. critical care, and emergency
dated total revenue from operations at in the US as the ramp-up of our global market. medicine. In FY23 it reported
Rs. 48,497-crore for FY24. The number specialty business is expected to con- Bids were to be submitted by the a net profi t of Rs. 9.4-crore,
stood at Rs. 43,886-crore in FY23. tinue,” he said. For the fi scal ended March 31, end of May. Others who have shown compared to a loss a year ago,
2024, the company reported a consoli- interest include Carlyle, Bain Capital, Private equity fi rm Advent Inter- and revenue of Rs. 1,207-crore, up 13.8
“We expect high single-digit consoli- Mr. Shanghvi noted that R&D in- dated net profi t of Rs. 9,576-crore. It and the UK’s Permira, while pharma national acquired BSV in 2019 in two percent on year. In FY20, it reported a
dated top line growth for FY25. All our vestments will be 8-10 percent of sales stood at Rs. 8,474-crore in the 2022-23 and healthcare products company Man- transactions that valued the company net profi t of Rs. 48.6-crore on revenue
businesses are positioned for growth,” during the year. fi scal. kind Pharma is also reportedly interested. at around $500-mn. It is looking for an of Rs. 822-crore.

150 Chemical Weekly June 11, 2024 Chemical Weekly June 11, 2024 151

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