Aurobindo targets $1B income in next 3 years

Leading Indian drugmaker Aurobindo Pharma is targeting a turnover of $1.0 billion in the next three years, after reporting sales of just over $500.0 million, according to chairman PV Ramprasad Reddy, who added at a press conference that he wanted the company to be the leading provider of generic pharmaceuticals in Asia and one of the top 15 companies in the world by 2015.

Mr Reddy added that "the company had no intention of selling a stake to anybody, in fact, we propose to acquire smaller companies of less than $100.0 million in the European market to use them as the launch pad for our new products and formulations. While 62% of the company's revenues came from active pharmaceutical ingredients, we expect the share of formulations to reach 50% when sales reached the billion-dollar mark."

Aurobindo is now exporting its products to over 100 countries. The company has built a robust product portfolio through rapid filing of process patents, drug master files and abbreviated new drug applications. Six therapeutic areas and seven formulation technology platforms are helping to drive the firm's growth.