Indoco Grows By Almost A Sixth In Q2
As Company’s First-Half Operating Profit Sees 89.2% Jump
India’s Indoco has reported double-digit sales growth, as well as a jump in operating profit and EBITDA for its financial second quarter ended 30 September 2021. The company has seen consistent growth on the back on domestic and international launches.
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Indoco has seen double-digit growth in domestic and international markets in the first quarter of financial year 2022. Headquartered in Mumbai, Indoco has reported overall growth of almost 43% and an increase of 124.6% in its operating profit in Q1 FY22.
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.
Kelix bio has announced two deals to expand its presence in Africa. The company is set to acquire 14 oncology injectable products from Germany-based Vitane. Furthermore, Kelix has acquired Pharmaceutical Institute, a pharmaceutical company established in Rabat, to enter Morocco. The pan-African company has also invested in Malta.