NEW DELHI, Feb 16: Aurobindo Pharma plans to begin product shipments to Europe from its facility in China starting in April, as stated by Chief Financial Officer Santhanam Subramanian.
The Hyderabad-based pharmaceutical company initiated operations at this plant in the final week of November 2024 and is currently increasing its production capacity.
“We expect the China plant to start issuing invoices in April, primarily targeting the European markets,” Subramanian mentioned during a call with analysts.
The firm has acquired the necessary European regulatory approvals, allowing it to commence product supply to the region, he noted.
“We are in the process of obtaining approvals for the US market as well, which may include an inspection,” Subramanian added.
The company anticipates strong growth from the China facility over the next 2-3 years, he indicated.
Addressing questions about the company’s biologics division, Aurobindo Pharma’s Director and CEO for Biologics, Vaccines, and Peptides, Satakarni Makkapati, stated that 2028-2030 will be a pivotal period for this segment.
“We currently have three products approved, two of which received positive opinions in Europe and one in the UK. We expect to launch an additional product this year, with Denosumab and Omalizumab on track, aiming for at least seven products to be fully commercialized by 2027-2028,” he stated.
By 2028-2030, the company anticipates establishing a robust revenue foundation, Makkapati noted. “We are optimistic about the advancements we are making and are confident in our investments and strategic product selections within the biosimilar market,” he added.
Aurobindo Pharma reported a 10% year-on-year decline in consolidated net profit, totaling Rs 846 crore for the third quarter ending December 31, 2024. However, its operational revenue rose to Rs 7,979 crore for the quarter, compared to Rs 7,352 crore during the same period last year. (PTI)
