This weekend was abuzz with the pharma industry bigwigs who had gathered at the 15th edition of the Bio Asia Summit. CNBC-TV18’s Ekta Batra was there as well and she caught up with Satish Reddy, Chairman of Dr Reddy's to talk about the pricing pressure and the way ahead.
In an exclusive conversation with CNBC-TV18's Nitya Balakrishnan, Saumen Chakraborty of DRL adds that the company will maintain its capex target of Rs 1,000 crore for FY19, and it will focus on biological research and development (R&D).
From the pharmaceutical space, Dr Reddys Laboratories (DRL) reported a mixed set of earnings this quarter. In an interview to CNBC-TV18, Saumen Chakraborty, CFO of DRL discussed the company's Q3 performance.
Ajanta Pharma retains the tag of fastest wealth creator for the third time in a row and Asian Paints is the most consistent wealth creator, said the wealth creation study
Natco Pharma said it plans to utilize the cash flows generated by the launch of generic versions of Israel-based Teva’s top selling multiple sclerosis Copaxone 20 mg/ml and 40 mg/ml by its partner Mylan in US towards strengthening balance sheet and investing on business expansion.
In an interview to CNBC-TV18, Anmol Ganjoo, Director of JM Financial Institutional Securities spoke about his latest report on Indian pharmaceutical space. Ganjoo has written on multiple stocks as well as the entire framework of the pharmaceutical space.
In the latest, CNBC-TV18's Ekta Batra and Vikas Dandekar caught up with Saumen Chakraborty, CFO of Dr Reddy's Laboratories (DRL) and asked him amongst other things, if pharmaceutical companies like DRL will feel the jitters once GST is rolled out.
In an interview to CNBC-TV18, Chander Agarwal, MD & CEO, TCI Express spoke about the results and his outlook for the company.
Shereen Bhan speaks with top bosses from the pharma sector along with KT Rama Rao, Minister of IT, Telangana at Bioasia 2017 to discuss way forward for pharma sector in making India healthier.
Saumen Chakraborty, CFO of Dr Reddy's is confident of getting back on to the growth path starting FY18 on the back of more than 15 significant launches and approvals that will help the pharma major make a comeback.
The pharma major reported third quarter earnings on Saturday. While revenues declined, the drop was in-line with expectations and was overall an operationally strong quarter.
Wockhardt chief Habil Khorakiwala says that Indian generic company as a whole is a competitive industry in US and therefore there is no scope for government intervention there. Anmol Ganjoo of JM Financial says if drug prices come down then Indian pharma companies will benefit.
The fall in revenue and profits in the first quarter was due to lack of launches in the US, says Saumen Chakraborty, CFO of Dr Reddy‘s. The company launched its first product in the US in July.
For the first quarter ended June, Dr Reddy‘s Laboratories missed estimates on all counts. Revenue declined 14 percent to Rs 3,222.5 crore in the quarter ended June 2016 from Rs 3,752.2 crore in same period last year.
Of the total 18 observations, 9 from July 2015 and another 9 from March 2016 inspection, the former ones relating to equipment and warehousing have been closed. Nine observations are still outstanding for the company.
Saumen Chakraborty, CFO of the company told CNBC-TV18 that they hope to commercialise four out of the eight products by FY18. He said all the eight products are expected to have limited competition.
Pharma companies are losing market share and such deals help them,says Surajit Pal of Prabhudas Lilladher.
Executives of Dr Reddy's Laboratories and Citi tell CNBC-TV18 that the second half of 2016 should be a good one for pharma industry.
There are approvals pending, but not from its Srikakulam plant. But improving quality checks at pharma's plants would be a high priority, says GV Prasad, CEO, Dr Reddy‘s.
Company will continue with tie-ups for biosimilar products. These will first be launched in India and then in other markets, says Satish Reddy, Chairman of Dr Reddy‘s Lab.
In the last five months, plants of nine Indian pharmaceutical companies - Cipla, Dr Reddy‘s, Sun Pharma, Cadila, Lupin and Natco Pharma.- have come under the US Food and Drug Administration (FDA) scanner.
When asked about the Cipla Indore facility, which has come under the USFDA scanner for manufacturing norms violations, Talati reassures that the facility is not a major contributer to Cipla earnings. Hence this news, he feels should not affect sales.
Saumen Chakraborty, President and CFO, Dr Reddy's Lab said they will be making a proposal to the board for buying back equity shares on February 17.
Saumen Chakraborty, CFO, Dr Reddy's, says the company has been calibrating sales in Venezuala where the market and capacity is huge.
Sharma, however, believes that despite the issues getting compounded by the day, most of the companies have enough capabilities to resolve them within the next 12-15 months.