Aurobindo Pharma is looking at the export of oral antiviral drug for Covid treatment, molnupiravir, and is also bullish on its potential in the domestic market.
The Hyderabad-based pharma company is one of the eight Indian drug makers with which Merck had inked a bilateral licensing deal facilitating the generic production of molnupiravir. “We have already made certain quantities of the product ready,” N Govindarajan, Managing Director, Aurobindo Pharma, told BusinessLine during an earnings call on Tuesday.
The company can export the drug as demand could pick up following Emergency Use Authorisation (EUA) given to molnupiravir in the UK recently, he said. Its also bullish on the domestic market potential for the drug once the approval of the Drug Controller General of India (DCGI) is in place.
Covid vaccine
The company’s plans for producing a Covid vaccine, however, have to be kept on the back burner.
“The Vaxxinity product did not go as per the plan” said Govindarajan.
The vaccine programme could not be taken forward as Aurobindo’s partner Vaxxinity could not get Emergency Use Authorisation (EUA) in Taiwan, he said, adding: “This is where we stand on the vaccine front, but we are open to contract manufacturing opportunities.”
The company had set up a new facility to manufacture viral vector vaccines at an investment of about ₹275 crore.
After rising steeply by about 7 per cent after the opening of trade on Tuesday, Aurobindo’s scrip ended with a gain of 0.68 per cent at ₹676.95 on the Bombay Stock Exchange.
Net profit declines
Aurobindo’s consolidated profit declined 2.1 per cent at ₹697 crore in the second quarter ended September 30, 2021, against ₹711 crore in the corresponding quarter of the previous financial year, according to the numbers released on Monday.
The total revenue of the company, too, decreased 2.1 per cent at ₹5,942 crore, compared to ₹6,069 crore in the year-ago period.