Anuh Pharma to set up new manufacturing unit; 4 drug launched by FY17

The company plans to launch 4 new products in Cardio Vascular and Anti Convulsant segments by FY17.

Dec 10, 2015 01:12 IST India Infoline News Service

Anuh Pharma, one of the largest manufacturers of Macrolides and Anti-TB products in India, plans to set up a state-of-the-art manufacturing facility targeted at regulated markets is under construction on the newly acquired piece of land and the same is proposed to be commissioned in FY 17.

The company acquired additional 7,800 square meters land at Plot No. E-18 in the Tarapur Industrial Area of MIDC connecting to the existing Factory for expansion purpose.

In addition, the company plans to launch 4 new products in Cardio Vascular and Anti Convulsant segments by FY17.

Continued focus on increasing market share in corticosteroids, for which manufacturing capacity at L&L site is enhanced to 12 MTPA

“Identification of new molecules and therapeutic areas is currently underway and will drive the next leg of growth over the medium to long term, while boosting utilization levels in the short run,” said the company.

Part of the Rs. 8.5 billion SK Group, Anuh Pharma’s immediate focus shall be on exploiting the current product approvals in Europe which offer a US$ 15 million opportunity.

Anuh Pharma Ltd is currently trading at Rs. 319.8, up by Rs. 8.7 or 2.8% from its previous closing of Rs. 311.1 on the BSE.

The scrip opened at Rs. 319.9 and has touched a high and low of Rs. 323.8 and Rs. 311 respectively. So far 11,642 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 779.49 crore.

The BSE group 'B' stock of face value Rs. 5 has touched a 52 week high of Rs. 414.75 on 12-Aug-2015 and a 52 week low of Rs. 103.7 on 22-Dec-2014. Last one week high and low of the scrip stood at Rs. 335 and Rs. 298 respectively.

The promoters holding in the company stood at 70.77 % while Institutions and Non-Institutions held 0.08 % and 29.15 % respectively.

The stock is currently trading above its 50 DMA.

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