thanks amit agrawal.
U seem to have covered most of the concall.
Some additions
US base business (ex abilify) remains robust)
Nexium.. After approval co is in final stages of approvals with various players. Target slightly lower market share in the lower single digit.
Shelcal expect to take price rise in Nov. (it is 15% cheaper than competitors in India). grew 45%. Chymoral grew 78%. These brands are showing good traction even more than their glory years earlier when they were flagship brands of elder.
They dont share margins of individual products.
About balance sheet, they said ST loans have been paid. LT debt in immediate future, no plans to retire it. Internal targets set for keeping aside some fund for WC management. Implied that they want to be ready with war chest should an opportunity arise for M&A.
Abilify likely to remain attractive in US for torrent for next atleast 12 months. Since launch is at risk, too many players are unlikely to come up.
Detrol current competition is with mylan and teva. 3 more players may come up. But overall opportunity likely to remain attractive.
Chhatral last inspected in June 2014.
Change in domestic business aimed at improving long term health of co. in domestic biz. Co wants to be the highest margin co in domestic biz. (someone asked about comparision with Sun and they told that they want to reach and better that)
On MAT basis, co is No 1 growth co in domestic market.
In Brazil, every April govt fixes ceiling prices for products. Co is likely to raise prices where possible .
On R&D side, co plans to increase resources and add 1000 people. aim to take r&d expense to high single digit of turnover. (? a la alembic?)
Aim of increased spend is to increase filings in US. In current qtr there were no filings. But aim is to file 15-20 ANDA beginning next year. And increase complexity of products.
In India aim is to build a strong pipeline and copy whatever is possible in Brazil.
Zyg acquisition is meant to get a toe hold in derma segment. Co plans to shift its own derma division and brands to Zyg. Its face wash (I think they were alluding to ahaglow face wash) is no 1 face wash brand in India. derma sales was 70 crores. Zyg is not into big opportunities. But is mainly to open its account in dermatology and not score a straight century.
Outlook for next 2 years. pending filings at 20 and 5-6 products have high chances of providing attractive opportunities.
In abilify co is in market share preservation mode. It is taking care of bigger customers and making them stick. Smaller customers are being addressed by newer players who have entered late. Abilify used to be a 30 dollar tablet for innovator.
Dahej nearing completion. EIR expected anytime soon and shipments to begin soon to USA and other markets before Christmas.
Dahej facility helps co in increasing supply and market share in existing products. Also it helps co to bid for bigger quantities in the German tender business. Its German arm Heumann has strong expertise in the german market. Germany remains an attractive market despite being tender based. Germany growth was 16% in constant currency terms.
UK and Romania have shown some slowdown. But in Romania due to changes in govt policy, generic players are likely to benefit.
Zyg sales 10 crores and profit more than 50 lacs. 2 NDDS preparations in dermatology in foam preparation to be launched soon.
Co is optimistic about Crestor whereas in Viagra they didnt seem confident. But they already have Sildenafil launched in US markets for off label Uses mainly in pulmonary hypertension where it si seeing good traction.
Complex NDDS evaluated for ROW and Brazil. At a later date even launches in US and Europe may be considered.
Overall the management commentary seemed fairly confident and positive.
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