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Nur noch ca 4 Wochen bis zur Zulassung !! A recent Citigroup report listed omeprazole, a drug used to treat acidity-linked inflammation and ulcers, and fondaparinux, a medicine that prevents blood clots, as two key upcoming generic drug opportunities for Dr. Reddy's.It also said that fondaparinux, a generic version of GlaxoSmithKline's (GSK 38.99, +0.70, +1.83%) Arixtra, could net the Indian company up to $60 million in its first full year of launch. http://www.marketwatch.com/story/dr-reddys-takes-cautious-pa… HYDERABAD, India (MarketWatch) -- Having paid the price for an ambitious expansion strategy, India's Dr. Reddy's Laboratories Ltd. is now in search of growth that is as sustainable as it is profitable, the drug maker's managing director says. One of India's largest pharmaceutical majors, Dr. Reddy's has now put further acquisition plans on hold, exited smaller markets, capped its research spending and is pursuing "differentiated" drugs difficult to make but likely to turn in more profits, said Satish Reddy, who also serves as the company's chief operating officer. "It was all about the growth story in the past. What we're now saying is that we want consistent growth on revenue and profits," Reddy said in an interview. RDY 17.04, +0.29, +1.73% 2015105 09FMAMJJ "Over the next one-and-a-half years, we don't intend to pursue [merger-and-acquisition-led] growth. ... In the markets where we're present, we already have a critical size, so we don't need to invest any further by acquiring. The focus is on deepening the presence," he said. The decision to put M&A plans on the backburner came in the wake of its financial troubles following the pharma giant's 2006 purchase of Germany's Betapharm Arzneimittel GmbH for 480 million euro (about $615 million at the time). Soon after the acquisition, regulatory changes in Germany resulted in a steep decline in prices of generic drugs, dragging on Betapharm's and Dr. Reddy's financial performance. In May, Dr. Reddy's (RDY 17.04, +0.29, +1.73%) (DRRDF 17.05, +0.01, +0.07%) took a one-time write-off of nearly 210 million euros ($296 million) on intangible assets and goodwill related to that acquisition, resulting in a loss of $102 million for the year ended March 31. "Having taken that write-off, [the German business] now reasonably reflects the value of what comparable companies are doing in Germany. I think the base is good to now start growing consistently on profits and revenue," said Reddy, who is also the son of the company's founder and chairman, Anji Reddy. Scale-backs and growth triggers Earlier this year, Dr. Reddy's also announced a realignment of its global operations, deciding to exit from markets contributing less than 1% of its revenue. Instead, it plans to focus on growing its presence in key markets such as the U.S., India, Germany and the Commonwealth of Independent States region, which together bring in 90% of its revenue from sale of generic drugs. Simultaneously, the company, once ranked among the biggest spenders on research and development among global generic drug makers, plans to keep its R&D spending at about 7% of sales. That compares with more than 12% of sales on R&D a few years ago. "It was a conscious decision that we must not spend more than 7%," said Reddy. "We still believe in research, but what we're saying is that we need to cap the research at a certain point and also need more certainty of success as far as generics are concerned." But even as it keeps its research budget under check, Dr. Reddy's has a strong pipeline of 68 generic drugs pending approval from the U.S. Food & Drug Administration, including as many as 18 drug applications falling under a so-called first-to-file status. First-to-file implies Dr. Reddy's could potentially get 180 days of exclusive rights to market a generic version of the branded product and earn higher profits. Those 18 branded drugs currently have an addressable market size of $9 billion, according to Citigroup estimates. "There is also room for developing differentiated products. ... There is a whole host of opportunities available which we still haven't tapped into," said Reddy. "Everybody's talking about [differentiated products] but it's also about capability and demonstrated success. [Success] depends on what the market needs, and having the infrastructure and the scientific expertise" to develop such drugs, he said. "It also needs significant investment and isn't something everybody can do." A recent Citigroup report listed omeprazole, a drug used to treat acidity-linked inflammation and ulcers, and fondaparinux, a medicine that prevents blood clots, as two key upcoming generic drug opportunities for Dr. Reddy's. The brokerage estimates Dr. Reddy's could earn annual sales of around $25 million to $30 million from the former, a generic version of AstraZeneca's (AZN 47.17, +0.73, +1.58%) Prilosec, available over-the-counter. It also said that fondaparinux, a generic version of GlaxoSmithKline's (GSK 38.99, +0.70, +1.83%) Arixtra, could net the Indian company up to $60 million in its first full year of launch. Last month, Dr. Reddy's also announced an agreement with Glaxo to sell 100 drugs in emerging markets outside India, using Glaxo's global distribution reach. The agreement will enable the Indian drug maker to sell its products in several markets, including some of those it recently exited, without itself setting up a sales infrastructure there. In the U.S. -- one of the company's largest markets -- Dr. Reddy's is hopeful that President Barack Obama's healthcare proposals will boost demand for generic drugs, but it is cautious on what it will mean to the bottom-line. Reddy said the proposal may not be "all about cutting healthcare costs" and the "pricing of medicines." Universal healthcare in the U.S. will "improve the usage of generics as more people will be covered," said Reddy. "Then comes the issue of reimbursement and what might happen there. That's something we have to wait and see as to how the proposals go through and what'll be the implications after that." |
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| aus der Diskussion: | Alchemia Limited -- Gelegenheit des Jahres |
| Autor (Datum des Eintrages): | BrauchGeld (04.08.09 22:30:46) |
| Beitrag: | 58 von 83 (ID:37711368) |
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