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Aurobindo Pharma to focus on growth trajectory, R&D investment and capacity expansion

Aurobindo Pharma, a key player in the pharmaceutical industry, is focused on improving self-reliance, and growth trajectory and continues to invest in Research & Development (R&D). The Hyderabad-based pharmaceutical company is known for its extensive range of high-quality, cost-effective generic medicines.

As per IQVIA MAT June 2024 data, Aurobindo Pharma is the largest generics player in the US by prescriptions dispensed. After a humble beginning in 1986, by P. V. Ramprasad Reddy (RPR) and K Nityananda Reddy (KNR), as an API manufacturer, the company, forward integrated into the formulations and went public in 1995.

Through a strategic and focused approach on both value accretive acquisitions and organic greenfield capital expansions, the company grew significantly to achieve a turnover of $3.5 billion in FY24. The company now has a manufacturing capacity of 50 billion+ formulation units and 19,000 MT APIs with 29 manufacturing facilities in operations. Further the company has 6 facilities under construction, which are expected to be operational in a couple of years.

The company is accelerating its growth trajectory to capitalize on the market opportunities through various strategic initiatives including expanding specialty business, accelerating the biosimilar product development, strengthening the supply chain and scaling operations in the growth markets to boost the business. The company’s resolute focus and investments in R&D, capital projects and value accretive acquisitions helped it gain a competitive edge and maintain sustained growth. The company has 14 biosimilar products under different stages of development. Further, it has submitted 14 peptide API DMFs in the US.

It is noteworthy that the company invested about Rs. 2,500 Crore to install a Penicillin-G manufacturing plant under the PLI scheme.

Continuing its track record of successful acquisitions, the company recently forayed into the Indonesian market, the fourth most populous country in the world. Through this acquisition, company acquired 17 brands in the Indonesian market, from Viatris/Pfizer, with a work force of 150+ people.

Recently, through TheraNym Biologics Pvt. Ltd. (TheraNym) a wholly owned subsidiary of the Company, Aurobindo Pharma has ventured into biologics contract manufacturing. It has announced the signing of a master service agreement (MSA) with MSD. It plans to put-up a biologics manufacturing plant with a capacity of 25-30 million vials per annum at an investment of up to Rs. 1,000 Crore. Recently, the company has announced a share buyback scheme of Rs. 750 Crore.

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