Indoco Yet To See Predicted Revival In Domestic Business
As Company Reports 18% Revenue Growth Overall In Q3
India’s Indoco has reported double-digit growth despite a slow recovery of its domestic business during its financial third quarter ended 31 December 2020. The Indian company reported 18% sales growth overall, lifted by 73% growth in its International business in Q3.
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India’s Indoco saw its international business grow after Teva launched the Indoco-manufactured and developed first US generic version of Novartis’ Azopt (brinzolamide) 1% solution. Though the company saw muted domestic growth, it aims to bolster its overall performance by launching 20 products a year by 2023.
Failing to see the predicted recovery in the Indian pharma market, Indoco has re-evaluated its expectations, acknowledging that it may have to wait longer to see a return to pre-COVID domestic sales figures. The Indian company’s managing director, Aditi Panandikar, talks to Generics Bulletin about Indoco’s plans amidst inconsistent market trends.
Indoco’s domestic performance picks up pace as the Indian pharma market sees a “bounce back” after a long COVID-induced slump. The Indian company continues to perform well internationally and grow overall.