Alembic & Alembic Pharma

I dialled in second half of the call, missed the inital 20-25 mins of the call. here are few points which I noted:

• the management didnt disclose the contribution of Abilify in Q2. They have lost market share in Abilify in last 2-3 months. They reached 10% market share but now its down to 6%. The management said there has been drop in prices of Abilify after the entry of Apcotex and recently after the entry of Aurobindo.

• R&D expense in H1 FY16 is around 158cr (disclosed in the investor presentation). The management is guiding for R&D expense of 250 cr in FY16.

• The company plans to launch 6-8 products every year for next 2-3 years in US.

• Q2 FY 16 doesnt include any contribution from gCelebrex. It is launched through partner in US and its contribution will be reflected in Q3 FY16.
  -Alembic has now its own front end team in US. They are selling gZomig through there own front end team (not sure about this drug name, plz check)
  -There were some one -off expenses in ‘other expenses” (like litigation costs) in Q2 but management didnt quantify the one off exp.