Aurobindo Pharma Ltd aiming at ₹1,000 turnover in the domestic market over three years. “The new business strategy for the domestic market is under evaluation. Our aspiration is to achieve ₹100 crore turnover in three years from the date of the launch of the first product,’‘ PV Ram Prasad Reddy, Non-Executive Director, Aurobindo Pharma said while responding to a question in the analyst call on Thursday. The Hyderabad-based company is keeping options of inorganic and organic modes for the domestic business. The new business strategy will decide key aspects such the portfolio build up and the therapeutic areas to be focussed in India.
US price erosion
On the US price erosion which has been haunting Indian pharma players including Aurobindo for the last four quarters, Reddy said, “The pain is almost gone.’‘ While the company did face the pricing erosion in the third quarter, it was on the lower side compared to the previous quarters.” The piling of inventories has almost been dealt with. “I am not expecting any more pricing pressure or increase in the input costs,’‘ Reddy said. Aurobindo Pharma’s consolidated net profit declined 22.3 per cent at ₹604 crore in the third quarter ended December 31, 2021 as against ₹777 crore in the corresponding quarter of the previous financial year. The total revenue of the company, too, decreased one per cent at ₹6,002 crore compared to ₹6,064 crore in the same period last year. The revenue from US formulations declined 13.4 per cent at ₹2,745 crore while the same from Europe increased 1.4 per cent at ₹1,694 crore.