October 2019 - The PR Wire

Posted on October 24, 2019July 20, 2020 by Team PR Wire — Leave a comment

Alembic Pharmaceuticals achieves 23% growth in net profit of quarter in comparison to last year.

Press Release

Vadodara, 24^th October, 2019

Alembic Pharmaceuticals Limited reported its consolidated financial results for the quarter ending 30^th September 2019.

Financial Highlights

· Net Sales for the quarter up 10% to Rs 1241 crores from Rs. 1127 crores last year.

· Net Profit for the quarter up 23% to Rs 246 crores from Rs 200 crores last year.

· Net sales for H-1 FY20 up 10% to Rs 2190 crores against Rs 1990 crores last year.

· Net profit for H-1 FY20 up 27% to Rs 370 crores from Rs 291 Crores last year.

Mr. Pranav Amin, Managing Director, Alembic Pharmaceuticals Limited said

“It was a good quarter for the company led by growth in the US market and the API business. We launched 7 products in the US market in Q2. We continue to invest in R&D to build up a product pipeline.”

Operational Highlights

International Business

· International formulations grew 10% to Rs 646 crores in the quarter and 17% to Rs 1099 crores for H-1.

· US Generics grew 25% to Rs 539 crores in the quarter and 35% to Rs 884 Crores for H-1.

· 6 ANDA approvals received during the quarter; 102 Cumulative ANDA approvals.

· 5 ANDA filings during the quarter; Cumulative ANDA filings at 170.

· EIR’s for all the plants in place.

India Formulations Business

· India formulations business for the quarter was Rs 391 crores as against Rs 385 crores for the last year.

API Business

· API business grew 31% to Rs 204 crores as against Rs 155 crores for the last year.

· 2 DMF were filed in the quarter and total tally of DMF stand at 102.

Summary of Total Revenue is as under:

(Rs in Crores)

Particulars	Q2 FY20	Q2 FY19	% Change	H1 FY20	H1 FY19	% Change
Formulation
USA	539	431	25%	884	656	35%
Ex-USA	107	156	-31%	215	283	-24%
India	391	385	2%	715	716	0%
API	204	155	31%	376	335	12%
Total	1241	1127	10%	2190	1990	10%

The Profit break-up is as under:

(Rs in Crores)

Particulars	Q2 FY20	Q2 FY19	% Change	H1 FY20	H1 FY19	% Change
EBITDA Pre R&D	505	443	14%	869	710	22%
EBITDA Pre R&D %	41%	39%		40%	36%
EBITDA Post R&D	342	305	12%	575	456	26%
EBITDA Post R&D %	28%	27%		26%	23%
Profit Before Tax before exceptional items	299	270	10%	491	392	25%
Net Profit after Tax	246	200	23%	370	291	27%

Alembic Pharmaceuticals Limited, a vertically integrated research and development pharmaceutical company, has been at the forefront of healthcare since 1907. Headquartered in India, Alembic is a publicly listed company that manufactures and markets generic pharmaceutical products all over the world. Alembic’s state of the art research and manufacturing facilities are approved by regulatory authorities of many developed countries including the US FDA. Alembic is one of the leaders in branded generics in India. Alembic’s brands, marketed through a marketing team of over 5000 are well recognized by doctors and patients.

Information about the company can be found at www.alembicpharmaceuticals.com; (reuters: ALEM.NS) (bloomberg: ALPM) (nse: APLLTD) (bse: 533573)

Posted on October 11, 2019July 20, 2020 by Team PR Wire — Leave a comment

MaxiVision aims to be a 500 crores group company by 2024: Dr.GSK Velu

To launch 15 more hospitals in JV to augment the journey of becoming India’s one of the largest Eye Care Chain

Hyderabad 11^th Oct 2019: MaxiVision has added another feather in its cap as it has acquired Sharat laser Eye hospital of Warangal and carved its way to be the leader in Eye health care in India. This dynamic joint venture will covet leadership in Indian vision care segment with chain of super speciality eye hospitals across the country. MaxiVision group are the pioneers in various cutting edge eye care technologies while Dr.Sharat and his team of doctors under Dr Sharat laser eye hospital is fore runner in eye care services in Telangana.The new Joint venture has been named as “Sharat MaxiVision eye hospital” after it has forged an alliance today with Sharat laser Eye hospital of Warangal.

Speaking on the Occasion Dr.GSK Velu – Chairman, MaxiVision Super Speciality Eye hospitals group & Trivitron Healthcare, said with the new Joint venture MaxiVision has emerged as an undisputed leader in eye care sector in both the telugu states i.e Telangana & Andhra Pradesh and aims high to be the second largest eye care services provider in India in the years to come. We are happy to forge an alliance with Dr.Sarath Babu Chilukuri, a leading eye care practitioner, in district of Warangal and joined hands to this enterprise. Dr.Sharath is one of the largest eye care practice in Warangal, with Super Speciality technology, and specialists. Dr.Sharath Eye hospital is one of the first eye hospitals to have NABH accreditation amongst eye care players in the region. He is also actively involved in various academic and research forums, and conduct advanced surgical training programs for budding ophthalmologists in India and Overseas. With over 400 people walking in to his enterprise for eye care, he need additional strengths to grow his enterprise to other districts of Telangana and AP, which was his vision over past decade.

With this strategic merger, the vision of reaching out quality eye care to every district of Telangana & Andhra will be achieved.Dr.Sharath will forge his strengths, expertise and knowledge to MaxiVision group, to augment the journey of becoming one of India’s Largest Eye Care Chain. Dr.Sharath, will add value to MaxiVision group in its expansion plans in the region, and also initiate training and academic projects for the group. He will be partnering Dr.Kasu Prasad Reddy, in all clinical strategies, and technology induction to the group, to benefit the people of twin states of Telangana and Andhra.

The expansion spree in Joint venture will continue to redefine the competitive landscape. As a successful entrepreneur in joint venture MaxiVision aims to launch 15 more hospitals by 2021 in JV. Warangal, Karimnagar, Khammam, Miryalaguda hospitals will be launched by the end of 2019. We target MaxiVision to be seen as a 500 crores group company in the next 5 years.MaxiVision has forged a vision plan ‘EMERGE’ to grow its network to other parts of Hyderabad City, over 10 districts in Telangana and AP and spread its network to neighbouring states of Tamilnadu, Kerala and Karnataka, from 2020. This will elevate MaxiVision Group of Eye Hospitals, to be 2^nd largest chain of eye care hospital in India, from the current position of 4^th largest eye care chain in the country.

Elaborating more on the acquisition Dr.Kasu Prasad Reddy, Founder Mentor, Co-Chairman, MaxiVision Super Speciality Eye hospitals group said the ” 25 years ago I came back from England to give the best of eye care service to my state which educated me the values and knowledge to what I am today. With a non-compromising ethical practice over the years, my practice grew beyond the capacity of an Individual eye care service provider. Joining hands with Dr.Velu,and my expert team of doctors has helped grow my practice even better, and spread to various locations. The need of the clinical partner arose to the current vision of MaxiVision to be a national player, and timing couldn’t be better than this, for entry of Dr.Sharath, an exemplary young surgeon, with a vision to grow, to this growing group. Together under the guidance and leadership of Dr.GSK Velu, and a team of professionals, this group will grow to the vision in short time”

Speaking on the Occasion, Dr.Sharath babu chilukuri added “ I have been always carrying a vision in my mind to grow my practice to tier 2 and Tier 3 towns of Telangana and Andhra Pradesh. After the bifurcation of the state, and emerging new towns, and population, the need of eye care is growing ominously, in all pockets of these two states. Watching MaxiVision grow its own as an undisputed leader, in Telangana and AP, I decided to partner with them, forge energies and grow together with a network of super specialty eye care provider. I am convinced that Dr.GSK Velu, a dynamic health care entrepreneur, Dr.Kasu Prasad Reddy, who is a guru and example for many Opthalmologists like me, we will be very successful in this journey.

Giving more insights on Maxivision, Mr.Sudheer, COO said, “The success of any health care service provider, is the best combination of clinical and strategic business management expertise. The objective of any ethical health care service provider is to give the best outcome out of surgeries of procedures. This require extensive clinical knowledge and expertise, and a strategic input to invest on right technology, at right time, in right place, on right price, for best results.Today MaxiVision has 11 State of the art eye hospitals across Telangana and AP. Maxivision also hosts all the latest Super Specialty eye care technology, to treat entire gamut of eye diseases. For the last 25 years MaxiVision has treated over 4 million eyes with the best super specialty surgeons in the state. This Joint Venture will carry forward the legacy of maxiVision to other parts of the country and acquire more like minded successful practices to combine positive vision and grow to be a leader in eye care in India.

Dr.Annapoorna, wife of Dr.Sharath Babu, who is also a refractive and cataract surgeon, graced the occasion and lighted the lamp for this great journey

Posted on October 1, 2019July 20, 2020 by Team PR Wire — Leave a comment

Polymaker in partnership with Covestro launches Versatile materials for 3D printing

Mumbai 01 Oct 2019: Polymaker, a market leader in advanced 3D printing products, announced the launch of three new polycarbonate-based 3D printing materials each with unique properties commonly used in various industries. Polymaker has partnered with Covestro to bring these new materials to market, thus enabling the access to materials well known to industry professionals and optimised for 3D printing.

The three new materials consist of:

· Polymaker™ PC-ABS – a blend of already commonly used 3D printing materials, polycarbonate and ABS. The advantages of this blend are high impact and heat resistantancy and easy processing. The polycarbonate boosts the heat resistance and toughness of the material while the ABS contributes to the good processing properties. This PC-ABS is also specialized for surface finishings, i.e. by electroplating and metallization, providing a good approach for post processing.

Polymaker™ PC-ABS uses Covestro’s Bayblendfamily as its base material which is a commonly used plastic in the automotive and information technology industry today. Polymaker™ PC-PBT – this polymer blend combines the good chemical resistance of PBT with the strength and toughness of polycarbonate. Polymaker™ PC-PBT performs very well under extreme circumstances whether in contact with hydrocarbon based chemicals or operating at subzero temperatures. The product maintains good toughness and its natural ductile fracture behavior at low temperatures.

· Polymaker™ PC-PBT is created from Covestro’s Makroblendfamily which is widely used in various industries. Compared to PC resins and PC-ABS compounds, PC-PBT has better resistance to chemicals, which enables printed applications where resistance to intermittent contact with fuels, oils, lubricants, cleaners is necessary.

· PolyMax™ PC-FR, a creation from Covestro’s Makrolon family, where the FR stands for flame retardant – the main feature of this polycarbonate based compound. This base material achieves V0 performance in the UL94 flame retardancy test and benefits applications where respective material approval is required. This allows PolyMax™ PC-FR to be applied for battery housings, motor mounts in aerospace and other industries. Within the automotive and electrical and electronics industry, many professionals are well accustomed with such FR materials.

Polymaker have introduced their nano reinforcement technology that is featured in all PolyMax™ materials. This boosts the fracture toughness of the FR material and produces a flame-retardant filament that can still perform in demanding applications. PolyMax™ PC-FR uses Covestro’s Makrolon showing a good balance between mechanical performance and safety, which has already been applied in electronic motorbikes, aerospace spare parts, and automotive production.