Looking at the break-up of API revenues for Laurus for the last 3 years, looks something like this
FY22 was not only a bad year for ARV APIs, it was pretty bad even for Onco and Other APIs. While CDMO is taking the bulk of the load in transitioning Laurus towards a less ARV dependent future, its critical to track revenue growth from Onco and Other APIs as well because they are also a key part of the diversification-away-from-ARV thesis.
Q1 FY23 numbers are encouraging for Other APIs (102% YOY growth) and flattish for Onco (7% YOY growth)
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