Indoco Profits Triple In First Quarter
As FDA Approves Indian Firm’s Rival To Eli Lilly’s Zyprexa
Indoco has tripled its operating profit in its financial first quarter ended 30 June 2020. The company has also received FDA approval for its generic version of Eli Lilly’s Zyprexa.
You may also be interested in...
After reporting a loss after tax last year, India’s Indoco has recovered and reported a substantial post-tax profit, as well as operating profit that doubled in its latest financial year, despite battling supply chain issues caused by the coronavirus crisis.
Biocon Pharma’s solid-dosage plant has received FDA inspection approval but its parent company was not so lucky, with one of its sites getting hit with five observations. Indoco, Strides, and Lupin were also in the regulatory spotlight while MedPharm has moved into a new, expanded facility and Coripharma has signed a packaging deal with Stada.
India’s Indoco Remedies is looking for healthy revenue growth in the coming fiscal year after beating market estimates with a 70.4% year-on-year jump in after-tax profit in its financial third quarter, propelled by strong revenues from domestic and international markets.