Financial Daily from THE HINDU group of publications
Saturday, Jul 12, 2003
Financial Daily from THE HINDU group of publications Saturday, Jul 12, 2003 |
|
|
|
|
|
Corporate
-
Performance Co-marketing pacts boost Orchid's formulations sales Our Bureau
Chennai, July 11 ORCHID Chemicals & Pharmaceuticals' formulation business (drugs in final form such as tablets) contributed 12 per cent (5 per cent) to Orchid's sales in 2002-03. The company's annual report for 2002-03 identified co-marketing arrangements with other companies as a key reason for the growing importance of formulation business. The report stated that under co-marketing arrangements, Orchid supplies some of its premium formulations to other companies to be marketed under their brand name. Dr. Reddy's, Ranbaxy, Novartis and Cipla were a few companies that joined hands with Orchid in this respect. Orchid Healthcare, the formulations division of the company, registered a turnover of Rs 53 crore in 2002-03, a growth of 141 per cent over the preceding fiscal. It indicated that 18 per cent of the absolute turnover growth could be traced to the co-marketing strategy. The turnover of the entire formulation business, domestic as well as export, was Rs 61 crore in 2002-03, almost a three-fold increase over the same in the preceding fiscal. This year, the company intends to augment its formulation export by increasing the pace of product registrations in other countries. In the preceding fiscal, the company established a physical presence in Brazil and Russia, two key pharmaceutical markets. Another development that is expected to boost the formulations business is the completion of an oral and sterile cephalosporin (anti-infective medicines) plant at Irungattukottai, near Chennai. The Irungattukottai plant would be completed by August 2003, said the report. The plant has been built to meet the US manufacturing specifications, and is expected to serve as the platform to export cephalosporin formulation there. Orchid registered a profit after tax of Rs 19.54 crore on an income of Rs 543 crore in 2002-03.
Article E-Mail :: Comment :: Syndication
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | Business Line | The Sportstar | Frontline | The Hindu eBooks | Home |
Copyright © 2003, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|