Financial Daily from THE HINDU group of publications
Thursday, Aug 08, 2002

News
Features
Stocks
Port Info
Archives

Group Sites

Corporate - Outlook


Alkem Labs looking at Rs 1,000-cr sales by '05

Our Bureau

Alkem Laboratories, primarily into the allopathic drug market, has made a foray into the herbal formulations market with the launch of two herbal products in the lifestyle segment.

MUMBAI, Aug. 7

THE Mumbai-based Alkem Laboratories Ltd is targeting Rs 1,000-crore turnover by 2005. The company aims to garner sales of Rs 600 crore by the end of this financial year, March 2003.

Mr B.N. Singh, Managing Director, Alkem Laboratories Ltd, told presspersons here that the company was expected to improve sales by entering newer segments.

Alkem Laboratories, primarily into the allopathic drug market, has made a foray into the herbal formulations market with the launch of two herbal products in the lifestyle segment. It has entered into a five-year strategic alliance with a South Indian firm, Cybele Herbal Laboratories, for the exclusive marketing rights of the latter's products.

Cogent Db+, an anti-diabetic drug and Mobigold, an arthritis remedy would be prescription drugs and priced at Rs 3 per tablet and Rs 6 per tablet respectively, said Mr Maitra, President-Marketing, Alkem Laboratories.

In the first year of launch itself, the company expects to garner sales of Rs 15 crore from both the products. "We are expecting about Rs 10 crore from Cogent Db+ and Rs 5 crore from Mobigold,'' Mr Maitra said.

On the export front, Alkem Laboratories expects the herbal formulations foray to boost its figures considerably. "We will be exporting these two products in countries where Cybele does not have a marketing initiative. We presently export to many countries in Africa, South Asia and parts of Europe,'' Mr Singh said.

The export turnover currently accounts for 10 per cent of Alkem's overall turnover. "Of the Rs 600-crore turnover that we expect to garner by March 2003, about Rs 550 crore will come from the domestic market and the rest from exports,'' said Mr Maitra.

The closely-held company also does not have any plans to go for a public listing soon. Says Mr S Singh, Chairman, Alkem Laboratories, "We did have plans to go in for a public listing sometime back, but with the prevailing depressed mood in the stock markets, I don't think we will be going in for a listing soon.''

Send this article to Friends by E-Mail

Stories in this Section
Maruti to launch Esteem diesel variant this month — May sport a tag of Rs 5.5-6 lakh


Cranes varsity in Hyderabad soon
Bark and bite
Madras High Court clears dissolution of Pond's
Hyatt Regency enters Kolkata
Ford India begins exporting auto parts to plant in China
LifeStyle to enter Delhi, Mumbai soon
Japan co to outsource from Hero Cycles
LML eyes Rs 900-cr turnover this fiscal
Alkem Labs looking at Rs 1,000-cr sales by '05
RSP despatches increase 23 pc
Corporate India still napping on fraud prevention: KPMG study


The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription
Group Sites: The Hindu | Business Line | The Sportstar | Frontline | Home |

Copyright 2002, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line