Ajanta Pharma looks to expand ops in high-growth Asian, African geographies

As part of its growth plans, Ajanta Pharma is looking forward to strengthening its presence across specific geographies with high growth potential in Asia and Africa.

In its annual report for the year 2022-2023, the Mumbai-based pharmaceutical manufacturer stated that it intends to build on its strengths to grow faster in the countries where it is present with its range of branded generic medicines.

Ajanta Pharma informs its shareholders: “As we achieve huge positions in several markets, our strategy now includes strengthening focus on selected countries of our geographical presence, which promise high growth potential.”

These regions provide a significant size of the branded generic drug market, she added, but the company’s presence remains small.

“We plan to intensify our presence in these markets and add value to patients’ choices through our distinctive product range,” the pharmaceutical company said.

The company’s generics business accounted for 73 percent of its revenue in fiscal 2023, with India and Rest of Asia and Africa contributing 31 percent, 26 percent and 15 percent, respectively.

Ajanta Pharma indicated that, in order to achieve its objectives, it has enhanced the allocation of capital to branded generic drug companies across India and the rest of Asia and Africa.

“Our strategic objective is reflected in our efforts during fiscal year 2023 to triple our product deposits and boost team size by 50 percent in the rest of the Asian and African markets,” the statement read.

She added that the company will continue to work on this approach to achieve growth in the coming years.

It also plans to boost the productivity of its 4,500 existing field teams spread across India and the rest of the global markets by enabling them with more digital tools and helping them get the most out of the growing portfolio, the drugmaker said. Ajanta Pharma has recorded revenue of Rs. 3,743 crore in FY23.