The fresh investment will support its plans to enter newer areas such as paediatrics and gynaecology
Pune-based generic drug-maker Brinton Pharmaceuticals, which has raised $ 4 million from Tata Capitals healthcare-focussed fund, is now looking at raising the second round of funds to finance its growth plans.
The two-year-old company is already a leading player in the domestic dermatology segment, claimed its management.
“We have raised $ 4 million from Tata Capitals healthcare-focused fund by diluting 16 per cent stake. We are now looking at raising second round of funding as our Australian private equity investor Marigold, which holds 14 per cent stake, has decided to exit,” Rahul Darda, MD, Brinton Pharmaceuticals.
The fresh investment will support its plans to enter newer areas such as paediatrics and gynaecology, Darda said, adding he is also looking at setting up a pharma unit in Pune with an investment of Rs 25 crore by 2021, Darda said.
The dermatology market is estimated at Rs 6,500 crore while paediatrics segment is around Rs 8,000 crore. These two segments are among the fastest growing categories in the domestic pharma market, he said.
The company also has plans to enter other therapeutic areas, including orthopaedics by 2019-20 and expand its international operations.
“We are exporting to 11 countries now, mainly into the Caribbean and African countries. We are looking at adding another 20 countries by 2022. The geographies we are focusing on include the CIS (ex-USSR republics) and more African countries, he added.
Currently, the company earns almost 70 per cent of its revenue from the domestic market, and the rest from exports.
Brinton is targeting revenue of around Rs 68 crore in FY18 and Rs 130 crore in FY19 and Rs 500 crore by FY22.