Ajanta Pharma aims to increase operations in high-growth Asian and African regions

3 Jul 2023 , 11:18 AM

Ajanta Pharma seeks to expand its footprint in a few regions with significant growth potential in Asia and Africa as part of its expansion strategies. The Mumbai-based pharma manufacturer indicated in its Annual Report for 2022–2023 that it plans to depend on its strengths to grow more quickly in the nations where it already has a foothold with its line of branded generics.

‘As we achieve formidable positions in many markets, our strategy now entails enhancing focus on select countries from our geographical presence, which promises high growth potential,’ Ajanta Pharma said in a statement to its shareholders.

Although the branded generics pharma market size in these regions is considerable, the company’s presence there is still rather tiny, it continued.

The drug company stated, ‘We want to increase our presence in these markets and bring value to the patients’ options through our differentiated product portfolio.

In FY 2023, the company’s branded generics division generated 73% of its revenues, with contributions from India, the rest of Asia, and Africa of 31%, 26%, and 15%, respectively.

Ajanta Pharma stated that it has increased capital allocation to branded generics operations throughout India, the rest of Asia, and Africa in order to meet its targets.

According to the statement, our efforts to triple our product submissions and double the size of our team in the remaining markets in Asia and Africa during FY 2023 ‘reflect our strategic intent.’

The business noted that it would keep focusing on this strategy in order to grow in the upcoming years.

The drug producer also stated that it intended to increase the productivity of the 4,500+ field teams already operating in India and other international markets by equipping them with more digital tools and assisting them in making the most of the expanding portfolio. In FY23, Ajanta Pharma reported revenues of Rs 3,743 crore.

For feedback and suggestions, write to us at [e-mail]