Ajanta Pharma looks to expand ops in high-growth Asian, African geographies
Ajanta Pharma is looking to enhance its presence across select geographies with high growth potential in Asia and Africa. In its Annual Report for 2022-23, the Mumbai-based drug maker stated that it intends to rely on its strengths to grow faster in countries where it has a presence with its range 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 informed its shareholders. These territories offer a large branded generics pharma market size, but the company's presence still remains small, it added.
«We plan to ramp up our presence in these markets and add value to the patients' choices through our differentiated product portfolio,» the drug firm said. The company's branded generics business accounted for 73 per cent of its revenues in FY 2023, with Indian, rest of Asia and Africa contributing 31 per cent, 26 per cent and 15 per cent, respectively.
Ajanta Pharma noted that in order to achieve its targets, it has enhanced capital allocation to branded generics businesses across India, the rest of Asia and Africa. «Our strategic intent is reflected in our efforts during FY 2023 to increase our product filings by three times and enhance team size by 50 per cent in the rest of Asia and Africa markets,» it stated.
The company will continue to work on this approach to achieve growth in the coming years, it added. It also plans to enhance the productivity of existing 4,500 plus field teams spread across India and rest of the world markets by enabling them with more digital tools and helping them get the most out of the growing portfolio, the drug maker stated.
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