Ipca Labs expects its US generics sales to touch $200 million soon
Ipca Laboratories is gearing up to make a strong return to the US generics business, with regulatory issues over its manufacturing facilities now behind, and integration of Unichem.
The Mumbai-based drug maker is aiming for consolidated US revenue of $200 million (₹1,675 crore) in the next 12-18 months, managing director Ajit Kumar Jain told ET in an interview. The US business of Unichem clocked around $120 million revenue in FY24. While Ipca doesn't give a separate break up of its US revenue, it is quite small.
«The US...we were there, but because of regulatory issues it took us some time to get those (regulatory) clearances; now all our plants have cleared,» Jain said.
«So, we have a large basket of products which are filed in the US...more than 40 products. Now most of those approvals are coming,» Jain added.
Ipca is currently focusing on commercialising already filed formulations and active pharmaceutical ingredients (APIs) in the US market, following the US Food and Drug Administration lifting an import ban on the company's manufacturing facilities at Ratlam (Madhya Pradesh), Piparia (Silvassa) and SEZ Indore, he said.
Prior to the import ban in June 2017, Ipca's US business had been generating revenue of $30-$35 million per annum. Ipca has a busy US launch schedule including 12-13 products in the next two years. Unichem will launch 5-6 formulations in FY25. Jain said Ipca will use Unichem's strength in the US market to distribute products there. Ipca paid around ₹1,600 crore-included for an open offer-to
