Piramal to expand pharma vertical presence in US, Europe

New Delhi: Piramal Enterprises has said it is looking to expand presence of its pharma vertical in global markets such as the US, Europe and Japan with plans to introduce more products going forward.

North America and Europe account for over 70 per cent of the company's revenue from pharmaceuticals business.

"Piramal will continue to add more generic hospital products both organically and inorganically to leverage its strong sales and distribution network, integrating acquired products and generating synergies," Piramal Enterprises said in its annual report for 2016-17.

On geographical expansion, the reports said the company would "further expand presence in strong markets, including the US, Europe and Japan."

Piramal's pharma vertical is divided into two --- the global pharma business that sells pharma products and services globally and the India consumer products business that sells OTC products in India.

The company operates through its own field force in the US, the UK, Italy, and Germany and through more than 80 business partners in other countries. It has distribution presence in over 110 countries across the world.

It has four plants in North America and two plants in the UK and has dedicated sales force in North America and Europe. In the US it has 30 per cent market share in inhalation anaesthesia.

"Piramal continues to strengthen its distribution presence in key European countries like the UK, Italy, Germany, and others," the report added.

Over the past six years, the company has cleared 28 USFDA audits, 78 other regulatory inspections and 568 customer inspections, the report said.

In the current fiscal, the company plans to launch Desflurane, the latest generation of inhalation anaesthesia.