Natco Pharma plans to launch 8-10 branded formulations this year
New Delhi: Natco Pharma plans to launch around 8-10 new products in domestic branded formulations segment during the current year as it aims to grow over 20 per cent year-on-year during the period.
The Hyderabad-based drug firm also plans to maintain its leadership position in oncology and gastro hepatology segment during the year as part of its short-term growth plan.
Besides, the company is looking at gaining traction in the newly launched cardiology and diabetology (CnD) division, Natco Pharma said in an investor presentation.
Natco has already launched an oral fixed-dose combination of Sofosbuvir and Velapatasvir under its brand Velpanat.
The medicine covers all genotypes ranging from 1 to 6. There is limited competition in the drug segment with only one other competitor in the domestic market, Natco said adding that it plans to launch the product in various international markets.
Besides, it is looking at extension of the Tamiflu franchise via launch of a suspension version.
The company said it is focussing at complex generics in the US market.
It has a rich pipeline of niche and complex generics for the US market. The company has filed for 43 niche abbreviated new drug applications (ANDA) while the USFDA has already approved 22 of its applications.
Beyond 2020, the company is looking at entering into "new attractive segments" in the branded formulations vertical.
The drug firm, however, did not share details.
For the year ended March 31, the company posted consolidated net profit of Rs 486 crore against Rs 157.1 crore last year, showing three-fold growth in profit.
Total revenue for the year rose to Rs 2,078.9 crore from Rs 1,089.7 crore for 2015-16, reflecting an year-on-year growth of 90.8 per cent.
Natco Pharma currently has seven manufacturing facilities spread across the country and employs more than 4,000 people.