The Hindu Business Line : Themis Medicare in good health on biotech foray

THE stock of pharmaceutical company Themis Medicare Ltd (TML) gained sharply on Wednesday on expectation of good growth by the company in the current fiscal due to its foray into biotechnology business.

The recent merger of the Artemis Biotech Ltd, a group company of TML, has also brought interest in the company's stock.

TML is involved in the manufacture and marketing of life-saving pharmaceutical bulk drugs and formulations of synthetic and fermentation origin in the domestic and international markets. Artemis Biotech is involved in biotechnology and fermentation activity. Its plant is based in Hyderabad where Lovastatin, Simvastatin and other fermentation-based actives are produced. The facilities available at the plant have attracted foreign multinationals to undertake the manufacturing of their products therein.

In today's trading the TML stock gained 17.2 per cent at Rs 94 on the BSE with volumes of 17,376 shares.

Brokers said the company's entering into the business of manufacturing antibiotics and vitamins through biotechnology is likely to change the outlook of the company. Dr Dinesh Patel, Managing Director & CEO, said: "We are going into the biotechnology based drugs and there is good growth in this area". He said the company is also entering into the new drug delivery system and with this initiatives, the growth of the company is expected to be good in the next few years.

Analysts feel that the next couple of years are likely to be good for the company, whichis likely to grow 100 per cent annually. This growth is due to the various drugs going out of patent from next year.

""From 2005, we expect approvals for various new drug deliveries," said Dr Patel.

For the financial year ended March 2004, the company reported net profit of Rs 2.84 crore on sales of Rs 70.87 crore. For the financial year ended March 2003, its net profit was Rs 1.54 crore on sales of Rs 51.21 crore.

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