The Hindu Business Line : Aurobindo Pharma bets on low-cost strengths

Aurobindo Pharma Ltd (APL) one of the lowest cost manufacturers of pharma products in the world, plans to use this advantage to consolidate its presence in both the domestic market and regulated markets such as US, Europe and Japan.

According to the APL Chairman, Mr P.V. Ramaprasad Reddy, markets, the world over, were turning sensitive to increasing cost of drugs and Governments, insurance companies and consumers were seeking to reduce their medical bills.

"While high cost research and development continues to be made by all large players, it has become essential to find ways and means to reduce the cost at the point of delivery. A balance needs to be found between innovation and effective cure on the one side, and affordable drug pricing on the other," Mr Reddy said, while addressing the shareholders at the 19th annual general meeting (AGM) here.

The APL Chairman said the need for balancing has provided an encouraging platform for players from countries such as India to offer effective and less expensive cure for ailments. India has the potential to be the largest provider with the talent pool of skills, facilities and sensitivity to find solutions for the industry players as well as consumers, he said.

Stating that India has the largest number of USFDA approved products, next only to the USA, Mr Reddy said, "In its segment of the market, the company has been one of the lowest cost producer in the world of pharmaceutical products, and has consistently taken care to offer what the customers want. We have the know-how, the facility, the ability, and experienced men and women, to be consistent."

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