• search
For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

Venus Remedies eyes Rs 1,000 cr revenue by FY'17

By PTI
|

Mumbai, July 21: Drug maker Venus Remedies expects Rs 1,000 crore revenue by FY'17 from the present Rs 460 crore on the back of higher exports.

"We expect 15 per cent organic growth and our topline is expected to grow to Rs 1,000 crore by FY'17 from Rs 460 crore in FY'13, following R&D share of revenue increase from present 33 per cent to 50 per cent," Venus Remedies Chief Financial Officer Dheeraj Aggarwal told PTI here.

The company currently has 25 products under its research and development portfolio, of which 13 are already commercialised, Aggarwal said. The margins for company's R&D products are much higher than generic products.

Venus Remedies eyes Rs 1,000 cr revenue

"We expect around 40-45 per cent margin out of all our R&D products," he said.

The company has obtained patent for its Elores antibiotic against Superbugs from Japanese authorities. The product has so far received 46 patents from the developed world.

The company has already launched this product in India and plans to launch it in Japan by end of 2015. "We expect Elores to generate a revenue of around USD 100 million by 2018," he added.

The company also hopes to increase its overall exports share to 50 per cent from the present 31 per cent in US, Canada, Japan, Europe and South Korean markets.

"We are not exporting to US market since we don't have USFDA approved facility. However, we are looking at alliances with pharma majors to market our R&D products in developed markets including US," Aggarwal said.

Aggarwal said that the company spent 18-20 per cent towards R&D till FY'12 and 15 per cent in FY'13. The company hopes to spend nearly 10 per cent on R&D going forward.

PTI

For Daily Alerts
Get Instant News Updates
Enable
x
Notification Settings X
Time Settings
Done
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Oneindia sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Oneindia website. However, you can change your cookie settings at any time. Learn more