Commenting on the company's performance, Aurobindo managing director N Govindarajan said, "We had another quarter of healthy performance where we continued to grow in US and Europe, which are our focused geographies. Our R&D initiatives have been progressing well across the products basket and we have started clinical trials for our first biosimilar product in Q3FY20. We reiterate that we are committed to quality adherence and are in the process of resolving all pending regulatory issues."
Despite the recent regulatory issues the US formulations revenues of the company witnessed a strong growth of 27.3 per cent at Rs 2,835.5 crore as compared to Rs 2,226.8 crore in the corresponding previous quarter. In fact, the US formulations revenues have accounted for 50.6 per cent of the consolidated revenues during the period. Similarly Europe formulations revenue grew by 21.2 per cent at Rs 1,401.3 crore.
Active pharmaceutical ingredient (API) revenues marginally declined to Rs 805.8 crore as compared to Rs 816.6 crore.