Expects export business to cross Rs 225 crore in FY20
Lincoln Pharmaceuticals has reported export sales of Rs 174.7 crore for the nine months ended December 2019 and expect it to cross Rs 225 crore in FY19-20. The company is also expanding its portfolio in lifestyle and chronic segment especially in women healthcare and dermatology to complement its strong presence in the acute segment. In the next two to three years, it is targeting sales of Rs 500 crore.
Mahendra Patel, MD, Lincoln Pharmaceuticals, said, “The export business has increased to 54 per cent of the sales in FY19 from 11 per cent in FY11. During FY2018-19, the company registered exports worth Rs 197.43 crore. Export is the focus area for the company as margins are better and also the fact that off-late a lot of issues like price control, ban on FDC drugs (fixed dosage combination), sale of generic drugs, etc. have cropped up in the domestic market. Company has received many product registrations in countries like East and West Africa, South East Asia and Latin America and will look to expand presence in more countries.”
The company’s growth has been attributed to a strong performance in the domestic and international markets, new product approvals, healthy customer and product base and superior R&D capabilities supported by strong industry experience and improving market dynamics.
“The company has recently secured a patent for its liquid Diclofenac Metered-Dose Rectal Spray (Diclofenac Rectal Spray). It has received necessary approvals from Drug Controller General of India (DCGI) and is set to launch it in the Indian market very soon,” said Patel.
The company has recently approved amalgamation of Lincoln Parenteral Ltd (subsidiary) with Lincoln Pharmaceuticals. The restructuring aims to bring synergies for both companies including competitive strength, operational efficiencies, productivity gains, and logistic advantages, thereby significantly contributing to future growth.
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