The Hindu Business Line : Atlas Lab eyes buyouts in US, UK

New Delhi, May 17 In a bid to expand its footprint into the international market, Atlas Laboratories and Pharmaceuticals Ltd (ALPL) is mulling acquisitions in the US and the UK.

The company, which had started out as a contract manufacturing firm, is now looking to become a full-fledged pharmaceutical firm with presence in generics, lifestyle products and also its own patented products.

“We have spread our plans into three phases. In the first phase, we had planned for an investment of Rs 100 crore of which we have spent around Rs 70 crore.

“We have launched around 20 products and are planning another 20-25 launches this year. We plan an investment of Rs 200 crore to get into research and development activities,” Mr Ashwin Kapur, Executive Director, ALPL, told Business Line.

The company, which started operations in 2006, is expecting revenues to touch Rs 60 crore by the end of the current year.

“We are strengthening our distribution network so that we can make available our products across the country. Right now we have a presence only in North India. Once we have a pan-Indian distribution network in another 10-12 months, we will be set for the second phase of our business plan,” Mr Kapur said.

Export foray

Atlas is also looking to export drugs once it gets the certification from WHO in another five months. The export division will first foray into West Asia, Africa, Russia and CIS countries.

In the second phase it will target the European Union and finally the US. “Our existing manufacturing facility in Haridwar is large and is equipped to meet the demand for all our plans.

However, for the US market we will be setting up a smaller facility,” Mr Kapur said.

He said the company has enough funds to meet the investment needs but will look at the option of an initial public offering or diluting stake to a strategic partner at a later stage.

Atlas is also ramping up its work force from 250 at present to about 1,000 in another 12 months.

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