Laurus Labs Share Price

Laurus Labs

CMP as on 29-Oct-20 10:24

₹ 327.15
4.60 1.43%

Open

₹ 319.00

Turnover (lac)

₹ 5,540

Prev. Close

₹ 322.55

Day's Vol (shares)

₹ 16,93,341

Day's Range (₹)

₹ 317.00
₹ 331.00

CMP as on29-Oct-20 10:24

₹ 327.30
4.65 1.44%

Open

₹ 316.00

Turnover (lac)

₹ 357

Prev. Close

₹ 322.65

Day's Vol (shares)

₹ 2,01,045

Day's Range

₹ 310.10
₹ 330.80

Laurus Labs is a leading research and development (R&D) driven pharmaceutical company in India, with a leadership position in generic active pharmaceutical ingredients (APIs) for select, high-growth therapeutic areas of anti-retrovirals (ARVs), Hepatitis C and Oncology. The company also manufactures APIs in oncology and other therapeutic areas, such as anti-asthma, ophthalmology, antidiabetics, cardiovascular, proton pump inhibitors (PPIs) amongst others. The company currently operates four manufacturing facilities in Visakhapatnam, Andhra Pradesh. Three of these facilities manufacture APIs and ingredients, while the fourth facility produces Finished Dosage Formulations (FDFs) and one API. The companys strategic and early investments in R&D and manufacturing infrastructure has enabled it to become one of the leading suppliers of APIs in the ARV therapeutic area to multi-national pharmaceutical formulation companies which cater to the large and fast-growing donor-funded access-to-medicines markets of Sub-Saharan Africa, South-East Asia and Latin America. The company also has growing synthesis and nutraceutical/ cosmeceutical ingredients businesses. Further, it is increasingly focused towards growing its integrated generics finished dosage forms (FDFs) business in which it has made significant investments.Laurus Labs operates in four business lines: Generics - APIs, Generics - FDFs, Synthesis and Ingredients. Its Generics - API business comprises the development, manufacture and sale of APIs and advanced intermediates; itsGenerics - FDF business comprises the development and manufacture of oral solid formulations; its Synthesis business includes contract development and manufacturing services for global pharmaceutical companies; and its ingredients business comprises the manufacture and sale of specialty ingredients for use in the nutraceutical and cosmeceutical sectors. The company has launched 59 products since its inception in 2005. Its key customers include Aspen Pharmacare Limited, Aurobindo Pharma Limited, Cipla Limited, Mylan Laboratories Limited, NATCO Pharma Limited (NATCO) and Strides Shasun Limited. As of September 30, 2016, the Company owned 34 patents and had 152 pending patent applications, in several countries.Laurus Labs Limited was originally incorporated as Laurus Labs Private Limited on September 19, 2005 at Hyderabad, Andhra Pradesh, India as a private limited company. The company was subsequently converted into a public limited company and its name was changed to Laurus Labs Limited on February 12, 2007. Subsequently the name of the company was changed to Aptuit Laurus Limited consequent to the strategic partnership entered into by the company with Aptuit Singapore on July 19, 2007. Thereafter the company was converted into a private limited company and its name was changed to Aptuit Laurus Private Limited on July 24, 2007. Subsequently the name of the company was changed to Laurus Labs Private Limited consequent to the proposed dilution of the shareholding of Aptuit Singapore in the Company on February 21, 2012. Further, the company was converted into a public limited company and the name of the company was changed to Laurus Labs Limited on August 16, 2016.The company disinvested its 100% stake in Viziphar Biosciences Private Limited vide Agreement dated April 18, 2016 and the effective date of Agreement was April 1, 2016 and therefore Viziphar Biosciences Private Limited ceased to be the Subsidiary of the Company w.e.f. April 1, 2016. The companys dedicated manufacturing facility for Aspen was inaugurated and became operational from November 2016. The company acquired balance 73% of equity shareholding of its Associate Company, namely Sriam Labs Private Limited with effect from November 1, 2016, thereby Sriam Labs Private Limited became 2nd 100% wholly Owned Subsidiary of the Company. Sriam Labs Private Limited is a private limited company based in India and engaged in design, development and manufacture of Active pharmaceutical intermediates and Intermediates to cater to the needs of pharmaceutical industry, in exchange for cash. The Group acquired Sriam Labs Private Limited because it will help realize the anticipated growth opportunities and synergies from combining these businesses.The company successfully completed its Initial Public Offering (IPO) and Offer for Sale (OFS) and the Equity Shares of the Company were listed on the National Stock Exchange of India Limited (NSE) and BSE Limited (BSE) with effect from December 19, 2016. In the process, the Company had offered 7,009,345 Equity Shares for an aggregate amount of Rs 2,997.10 Million (6,936,775 equity shares of Rs 10/- at a price of Rs 428 per equity share to the Public and 72,570 equity shares of Rs 10/- each at a price of Rs 388 per equity share to the employees under employee reservation category). The Private Equity Investors, namely Aptuit (Asia) Private Limited, FIL Capital Management (Mauritius) Limited, Fidelity India Principals and Bluewater Investment Ltd., have together offered 24,107,440 equity shares in the Offer For Sale (OFS) in the IPO for an aggregate amount of Rs 10,308 Million. Therefore, the total IPO including Offer For Sale was for 31,116,785 equity shares of Rs 10/- each for a total amount of Rs 13,305.10 Million.During the year ended 31 March 2017, the company completed expansion of its R&D Centre at Hyderabad. During the year under review, the company initiated ARV API supply into the European market. During the year under review, USFDA and WHO-Geneva Inspections at the companys Unit-2 was completed successfully. During the year under review, the company entered into a contract with Dr. Reddys Lab for the development and marketing of several anti-retroviral formulations on profit and cost sharing basis. Under Profit sharing arrangement between Laurus Labs and Natco for Hepatitis-C Segment, Natco launched Velpatasvir and Sofosbuvir combination in Nepal and launched in India in May 2017. During the year ended 31 March 2017, Laurus Labs signed manufacturing and supply agreement for Oncology NCE for clinical phase and commercial supplies. During the year under review, the company filed 3 ANDAs with USFDA and one dossier with WHO-Geneva.During the year 2019, the Company commenced commercial operations from Unit 4 and Unit 5.During the year 2019, the company incorporated a step down subsidiary in Germany.During the year 2019, the companys Unit 6 USFDA inspection was completed successfully with one observation. In FY19, the formulation business of the company generated first 500 million revenue and launched Tenofovir, Metformin in US, Tenofovir in Canada, DLT (a three-product combination product) in LMIC countries under partnership with Global Fund for treatment of HIV/AIDS. Also, the company commenced supply to Europe under contract manufacturing to a European partner.During the year 2019, the Company continued the corporate guarantee to Citi Bank, India and, in turn, Standby Letter of Credit issued by Citi Bank, India to Citi Bank Inc. USA on behalf of the Subsidiary Company, namely Laurus Synthesis Inc. USA, for USD 2 million, to meet the objectives of the said subsidiary Company. Further, the Company also issued two corporate guarantees to the bankers of Sriam Labs Private Limited for an amount of Rs 500 million, both of which are well within the limits prescribed under Sec.186 of the Companies Act, 2013.

  • Executive Director & CEO

    CHAVA SATYANARAYANA
  • Executive Director & CFO

    VENKATA RAVI KUMAR VANTARAM
  • Executive Director

    Chandrakanth Chereddi
  • Independent Director

    Aruna Bhinge
  • Independent Director

    Rajesh Koshy Chandy
  • Company Secretary

    G Venkateswar Reddy
  • Chairman & Independent Directo

    M Venu Gopala Rao
  • Independent Director

    Ravindranath Kancherla
  • Executive Director

    Venkata Lakshmana Rao Chunduru

Registered Office

Plot No 21 Jawaharlal Nehru,
Pharma City Parawada,Visakhapatnam,
Andhra Pradesh-531021

REGISTRAR OFFICE

Karvy Selenium Tow-B,
Nanakramguda,Hyderabad-500032
INDIA