"We have started the year with a healthy performance. Enhancing our quality management practices and adhering to the regulatory requirements continue to be our highest priority. During the quarter, we have commissioned Eugia's manufacturing facility and launched 5 Oncology and Hormonal products in the US market. Our differentiated product basket is progressing well and we are in the process of starting clinical trials for our first biosimilar in the second quarter of the current financial year," Aurobindo Pharma's managing director N Govindarajan said.
Total formulations revenues grew 34.6 per cent to Rs 4,712.0 crore in Q1FY20 as compared to Rs 3,500.8 crore in the year ago period. Formulations accounts for 86. 6 per cent of total revenues for the quarter,
Europe, the second largest market for the company, contributed Rs 1,391.6 crore to the formulations revenues in this quarter registering a 16.1 per cent growth. Formulations revenue from the growth markets stood at Rs 318.5 crore, an increase of 22.2 per cent over Rs 256.6 crore in corresponding previous quarter.
The revenue from anti retrovirals (ARVs), in the formulations segment, more than doubled to Rs 318.5 crore in Q1FY20. However, active pharmaceutical ingredients (API) revenues declined 20.1 per cent to Rs 732.2 crore in the same period, according to the company.