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Aurobindo hopes to become $2 billion company in 3 years

Posted on: Wed, 25 Nov 2009 13:44:00 EST

Symbols: AUBPF

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Nov 24, 2009 (The Economic Times - McClatchy-Tribune Information Services via COMTEX) --
AUBPF | Quote | Chart | News | PowerRating -- HYDERABAD, India -- Hyderabad-based pharmaceuticals company Aurobindo Pharma hopes to become a $2-billion company in the next three years, aided by improved sales from its API business and increase in profit margins , according to Ramprasad Reddy, chairman of the company.

The company, which currently has profit margins of around 18 per cent, expects to touch around 23 per cent by the next fiscal, backed by the new formulations manufacturing facility it launched in the city outskirts on Friday.

Aurobindo has invested around Rs 150 crore in setting up this manufacturing plant that will aid the manufacturing of generic pharmaceuticals products and exports globally.

The company recently joined hands with Pfizer to market its products. They are in a licensing pact to sell generic drugs in 70 emerging countries and developed markets like the US and Europe.

The company is currently doing trial batches for 25 products which would be stabilised in around three-six months. It would complete licences for 100 products by 2012. Commercial operations for the products under trial would begin by the first quarter of the next fiscal.

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