August 4th 2023.
Alembic Pharmaceuticals Limited announced their consolidated financial results for the first quarter ended June 30th, 2023. According to an exchange filing, the company saw a net sales growth of 18% to Rs 1486 crores for the quarter, and a net profit of Rs 121 crores.
Pranav Amin, Managing Director of Alembic Pharmaceuticals Limited, stated “We have grown in all business segments, particularly in India with a 9% growth, Ex US Generics with a 46% growth, API with a 31% growth, and US Generics with a 6% growth. Furthermore, we have started commercializing products from our Oncology and Injectable Facilities.”
The India Branded Business saw a 9% growth to Rs 524 crores for the quarter, and 11% growth compared to the industry's 9%. Specialty therapies saw a 12% growth compared to industry growth of 7%, whilst Acute therapies saw a 16% growth compared to the industry's 10%. The Anti Infective industry has shown 10% growth, where as Alembic recorded 19%. The Animal Health business recorded 11% growth over the previous year's first quarter.
The US Generics saw a 6% growth to Rs 390 crores, and Ex-US International Formulations grew 46% to Rs 266 crores. Alembic Pharma received USFDA approval for a generic ophthalmic solution, as well as five ANDA approvals and five ANDA filings during the quarter, with a total of 184 cumulative ANDA approvals and 250 cumulative ANDA filings.
Finally, the API Business grew 31% at Rs 305 crores in the quarter, and 131 cumulative DMF Filings.
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