Drug firm Elder Pharmaceuticals on Tuesday said it is targeting revenues of up to one billion dollars from the lucrative $ 70 billion Japanese pharma market.
“The Japanese pharmaceutical market is actually valued at about $ 70 billion. The opportunity which we are targeting is about $ 1 billion. Our plan is to actually try to get about one to two per cent of the market share,” Elder Pharmaceuticals Director Mr Alok Saxena said.
The company has recently received accreditation from Ministry of Health, Japan for its active pharmaceutical ingredients (API) plant at Patalganga and is planning to be an API and advanced intermediate supplier to the Japanese market.
“This accreditation for the API plant is a step towards strengthening Elder’s position as a supplier of APIs and intermediates in the Japanese market,” he added.
The company further said it has already filed for new patents in these markets and expects the approvals in next six months.
“The company has also developed two products going off patent in the Japanese market in 2014. One of the products is from the CNS category and the second is from the GI segment,” Mr Saxena said.
He added that Japan is increasing the share of its healthcare spend on generics pharma and is targeting this share to go up to 30 per cent of its total market by 2013.
Shares of Elder Pharma today closed at Rs 370 apiece on the Bombay Stock Exchange, down 0.87 per cent from its previous close.