Cadila targets growth in US, Latam formulation markets
Pharma firm Cadila Healthcare sees big growth opportunity in US and Latin American formulation markets and plans to enhance share in the US generics market by launching complex, oral solids and formulations.
“Going forward, the company’s focus will continue to be on launching complex, difficult-to-make oral solids and formulations of other dosage forms like injectables, nasals, creams and ointments in order to enhance share in the US generics market,” Cadila Healthcare Chairman Pankaj Patel said in the company’s annual report.
The US is the world’s largest pharma market, both for branded and generics drugs, accounting for around one third of the global market. The company is present in generics market through its wholly owned unit Zydus Pharmaceuticals (USA) Inc.
During 2015-16, the company’s business in the US remained the largest contributor to the consolidated revenue, which crossed USD 600 million in sales for the first time. In rupee terms, the US business posted sale of Rs 4,021 crore during the year, up 19 per cent. The company is ranked amongst the top 3 players for around three fourth of the products being marketed by it in the US.
Cadila Healthcare launched 3 new products in the US in FY16. In terms of Abbreviated New Drug Application (ANDA) filings, 30 more ANDAs were filed with the USFDA during the year, taking the cumulative number of ANDA filings to 269.