Shasun Pharma Targets Rs 2000 Cr Turnover in 3 Yrs
Shasun Pharmaceuticals Ltd has set a target to double its turnover to Rs 2,000 crore by 2015.
The company, which invested Rs 83 crore last fiscal in its operations, is planning to invest around Rs 250 crore for capacity expansion in 2012-13, including setting up of a multiproduct facility in Visakhapatnam, Andhra Pradesh, and upgrading existing facilities.
It expects the contract research and manufacturing services (Crams) along with active pharmaceutical ingredients (API) business to contribute to the Rs 2,000 target. A large number of products going off patent in 2013, including sevelamer hydrate, sevelamer carbonate and colesevelam molecules for which the company has a first to file advantage to manufacture, would bring in considerable revenue, he added.
The formulations business under Crams is expected to grow from the current Rs 80 crore to Rs 400 crore, and its UK subsidiary, Shasun Pharma Solutions Ltd that is exclusively for Crams, is expected to clock in around Rs 500 crore in 2014-15 from Rs 350 crore at present.
The API business is expected to grow from Rs 400 now to Rs 600 crore while the API business for Crams and custom synthesis would go up from Rs 90 crore to Rs 250 crore by the fiscal 2014-15. The upcoming plant at Vizag would generate a business of Rs 300 crore by the time. The biotech business would grow from Rs 3 crore at present to Rs 25 crore. By 2015, around 50 per cent of the target revenue would be from API and the rest from Crams.
The company is also looking at backward integration, including into some of the petroleum products for its products. Its multiproduct manufacturing facility for contract manufacturing services business in the SEZ of Pharma Park in Vizag, with an investment of over Rs 50 crore, is expected to commence commercial production before December, 2012.
Intas Pharma Raises Rs 300 Crore from Chryscapital PE
Private equity major ChrysCapital, is investing Rs 300 crore in Intas Pharma. This follows a delay in the latter's plans to file for an initial public offering (IPO) because of volatile market conditions.
“The funds will help fuel high growth and borrow more. We're also looking at target companies in the international market. We're doing this to become more aggressive and these funds will take care of our requirements for up to one and a half years,” said a senior official.
The Rs 2,700-crore Ahmedabad-based company, for which 40 per cent of sales comes from overseas, expects to grow 25 per cent annually. About 65 per cent of its business comes from chronic therapy for areas such as cardiology and central nervous system. Intas will now look to file a fresh draft red herring prospectus (DRHP) in the next few months, with a target to list by next year. Previously, it had filed a DRHP in July last year, but then conveyed its inability to list to the market regulator.