Recently Strides Arcolab has received WHO prequalification for Artemether+Lumifantrine (AL) and expects for more 2-3 key approvals during second half, 2013.With respect to pharma regulatory updates the company has 46 filings till date with the United States Food and Drug Administration (USFDA) with 18 pending approvals.
"We are pleased with our performance which is in line with our guided EBITDA and Revenues. With recent product approvals, we expect to deliver a strong second half in our pharmaceutical business,"said Arun Kumar, Vice Chairman and Group CEO, Strides Arcolab Limited
The product development progressing will be as per schedule for commercialisation in early 2015.The financial results for the global pharma clearly indicated that consolidated pharma revenues in the first half 2013 at Rs 464 crores with an EBITDA of Rs 101 crores impacted by an exchange loss of Rs 15 crores. According to the financial report Strides Arcolab, it was noticed that revenue guided at Rs 1000 crores with an EBITDA of Rs 200 crores.
Apart from the growth in the consolidated pharma, the designed phase of customised biotech facility at Bio-Xcell ecosystem Malaysia is progressing and ground breaking scheduled for fourth quarter 2013. Strides Arcolab develops and manufactures a wide range of IP-led niche pharmaceutical products with an emphasis on sterile injectibles.