Natco Pharma aims to diversify product portfolio in domestic market

Natco Pharma plans to diversify its product portfolio within the home market because it goals to make up for a drop in enterprise of a few of its distinguished product classes, in accordance with the drug maker’s Annual Report 2019-20.

Informing shareholders, the drug maker mentioned its oncology phase suffered within the final monetary 12 months resulting from pricing controls from the federal government, and its Hepatitis-C enterprise continued to say no resulting from discount in market dimension.

Also, through the fourth quarter, the Covid-19 pandemic resulted in most cancers sufferers suspending their hospital visits and chemotherapy procedures, the corporate mentioned.

All these elements collectively pushed the enterprise to say no through the 12 months, it added.

“We are planning for new product launches in the non-oncology segment to mitigate the impact of the Hepatitis-C market decline,” Natco Pharma Chairman and Managing Director V C Nannapaneni mentioned.

Oncology continues to be the corporate’s most essential phase within the home market. Currently, it has 33 merchandise within the most cancers therapy drug phase.

In spite of those elements that induced the home enterprise downturn, the drug maker launched eight merchandise over the past monetary 12 months and continued to retain its market place in key segments, Nannapaneni mentioned.

On the home enterprise entrance, the corporate is cautiously optimistic about its industrial foray of the crop well being sciences division within the close to future, he added. The firm’s home formulation gross sales in 2019-20 stood at Rs 540.5 crore and accounted for 27 per cent of the whole revenues.

Commenting on the corporate’s worldwide enterprise, Nannapaneni mentioned it goals to focus extra on markets like Canada and Brazil, which provide sturdy progress alternatives.

“We have also made it a strategic priority to concentrate more of our efforts in the ‘rest of the world’ market to improve our revenues and profitability. We see good growth potential in Canada and Brazil going forward, among other markets,” he famous.

The firm continues to put good basis for enterprise progress within the Asia-Pacific area, Nannapaneni mentioned.

Commenting on the corporate’s US enterprise, he mentioned that in 2019-20, it remained robust regardless of pricing pressures and competitors for its antiviral flu medication Oseltamivir.

“We did not see any compliance issues for our facilities, which cater to international markets.

“The company continued to file abbreviated new drug applications, some of which we believe to be first to file. We also observed a more stabilised pricing scenario in the US market,” Nannapaneni mentioned.

The agency stays bullish on its product pipeline for the following few years, together with its blockbuster product Lenalidomide for the US that will catapult it to the following trajectory of progress, he added. Natco Pharma’s worldwide enterprise within the final monetary 12 months stood at Rs 933.four crore, contributing 46 per cent to its total revenues that stood at Rs 2,022.four crore.