Sales growth look a bit higher than they actually are due to one-time opportunities in US. The good news is they have finally started getting approvals for injectables. Concall notes below.
FY23Q2 concall
- US base business is $45-50m, quarterly revenues were higher at $52mn due to certain one time opportunities
- US price erosion was in high teens. In some products, it was as high as 30%
- Normalized API business growth is 10%, it was higher this quarter
- F2 & F3 plants have 50 filings of which 7-8 are oral solids and rest are injectables
- gBrovana: Market share increased to 10% (commercialized through CMO)
- Ex of covid (amphotericin-B) sales, Indian business growth was 11% YOY
- 15% of domestic portfolio is under NLEM
Disclosure: Invested (position size here, no transactions in last-30 days)