Indoco Remedies Limited
Please contact Sales at: (212) 520-2765 or email PharmaNewsSales@informa.com
Latest From Indoco Remedies Limited
Indoco has seen growth in Q3 FY22 based on the performance of its domestic business. Though the company hasn’t seen growth in its international segment, Indoco management says the firm is on track to perform better in the next quarter.
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.
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.
The generics industry struggled with the prior-year comparison as it saw an expected decline in revenues in the first quarter of 2021, driven by the global impact of the COVID-19 crisis. As a result, the performance of most companies fell short of the numbers reported in Q1 2020. However, a few managed to contradict the trend by reporting growth, either based on the launch of COVID-related drugs or performance in specific geographies.