Strides Arcolab, the Bangalore-based manufacturer of IP-led pharma products, especially sterile injectables, has decided to move away from the US market and shift its focus to the European market with plans to file a significant number of products there. The company already has a significant portfolio build-up in the US market.
“Continued momentum on filings will continue. There has been a significant shift from regulated market filings away from the US. Now we are moving to focus on the European market,” said Mr Arun Kumar, Vice-Chairman and Managing Director, Strides Arcolab, while sharing his company's plans with analysts recently.
“Our continued focus on the US will obviously remain, but the large pipeline of drugs build-up is over and we are to focus on niche products for filing there, which is happening rapidly,” he added.
At the end of second quarter (Q2) of calendar year 2011, the company's cumulative filings and approval in key regulated markets include: 157 dossier filed for the US market (of which approval received is 60), 48 for Europe (9) and 40 for Australia/New Zealand (21).
During the calendar year 2010, the company posted Rs 1,765.5 crore in revenues, of which 15 per cent came from North America, 19 per cent from Europe, 33 per cent from Australasia, 6 per cent from Latin America, 14 per cent Africa and 13 per cent from the rest. The company expects its Q3 to be significant, when many new products are to be launched. Early this year , the company launched only 10 products in the US market.