Financial Daily from THE HINDU group of publications
Thursday, Oct 17, 2002
Financial Daily from THE HINDU group of publications Thursday, Oct 17, 2002 |
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Corporate
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Outlook Alembic sets sights on regulated markets Our Bureau
Mr Atul Barman, Vice-President, Alembic Ltd, at a press conference in Mumbai on Wednesday.
MUMBAI, Oct. 16 ALEMBIC Ltd, the Baroda-based pharma company has set its eyes on the international markets, particularly the regulated ones such as the US Europe. The company currently has a small presence in these lucrative markets. Says Mr Atul Barman, Vice-President, Alembic Ltd, "We are in the preparatory stage as far as the international markets are concerned. The company has identified two plants in Panela, near Baroda primarily for exporting to these markets." The company has started upgradation and expansion process in these two manufacturing facilities. "We are hoping to get a USFDA (United States Food and Drug Administration) approval by the end of this year," Mr Barman said. Alembic is also scouting for potential partners in the US and Europe for marketing and distribution of its products. "We are looking at tying up with other companies for marketing and distribution in the generic category," he said. The company had late last year announced a restructuring exercise in line with recommendations by global consultants, Accenture, to increase operational efficiency, productivity, cost rationalisation and supply-chain management. Subsequently, Alembic formed five business units, the latest one being SynX. SynX (or Syndrome X) unit will cater to metabolic disorders comprising central obesity, glucose intolerance, hyperlipidemia and high blood pressure. According to Mr Barman, the target for the first 18 months would be around Rs 25 crore. "Initially we will be having about nine products in this segment with a team of about 150 people. We will also be setting up a call centre for doctors in case they need any samples of the products," he said. The company also plans to achieve a turnover of Rs 1,800 crore in the next five years and expects to reach a turnover figure of Rs 1,000 crore in two years. For the year ended March 2002, the company registered net sales of Rs 560 crore and a net profit of Rs 23.5 crore.
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