India-based drug manufacturer Aurobindo Pharma plans to focus on increased Abbreviated New Drug Application filings and new differentiated product launches in the United States to maintain its growth.
The company, which holds the highest number of USFDA product approvals at 251 approvals with 36 tentative, posted a growth of 15 percent in sales and 26 percent in profit in the last fiscal year.
The United States and Europe serve as the two key global markets for Aurobindo Pharma, accounting for two-thirds of the company's revenue.
Due to new launches in the oral and injectable segment, along with the acquisition of nutritional supplement maker Natrol, Aurobindo Pharma reported its US formulations business contributing 44 percent to its total revenues.
"We continue our growth journey with higher numbers of ANDA approvals, new launches and better integration of acquired businesses. With growth coming from all business verticals, focus remains on new launches in the US and improved cost efficiencies in the EU," said Aurobindo Pharma's Managing Director N. Govindarajan.
More articles on supply chain:
Dr. Ezekial Emanuel: Affordable antibiotics fuel drug resistance — 4 steps to a solution
Antidote for heroin overdose sees huge price spike
Judge orders Washington Medicaid to cover lifesaving hepatitis C drugs for all