Natco Pharma mulling acquisition in RoW market to strengthen base business

Natco Pharma is mulling acquisitions in the Rest of the World (RoW) markets to strengthen its base business.

“The acquisition space is to strengthen our base business. We have the money to do it and are looking at Rest of the World business. As of now, we are not able to close anything, but we are hoping in the next couple of years,’‘ Rajeev Nannapaneni, Director and CEO, Natco Pharma said.

On the plans for any buyback plans by the promoters, he said no decision was taken in the regard so far. “We get a large-enough acquisition then I don’t want to do a buyback. But if we are unable to close a large acquisition, then maybe we can consider a buyback. We will decide as the year unfolds.’

Hyderabad-based Natco has been taking steps to expand its reach and recently invested approximately $2 million in Cellogen Therapeutics Private Ltd, a Delhi based biotech start-up.

As the company is strong in oncology, it might augur well for its business going forward. “We feel that a lot of the oncology therapy is going to go to CAR-T. We have the option to invest more, depending on how things go as we had a modest start,’‘ he said.

AGRO Business

On the plans for the agri business he said in FY24, while the company aimed at ₹140 -₹150 crore business, it fell short by about ₹25 crore. “The monsoon was bad last year and we had some returns. Overall, I think it’s a good business. We build a reasonably brand business in a very short duration of time. We can give specific guidance of how the business is going around June quarter,’‘ he added.

Natco is `optimistic’ about a number of first-time generics in agro business going forward.

The company recorded its highest ever consolidated revenue and profits during the last financial year. In FY24, it posted consolidated revenue of ₹4,127 crore as against ₹2,811 crore in the previous year reflecting about 47 per cent growth. The consolidated net profit for the year was ₹1,388 crore as against ₹715 crore FY23 showing a growth of 94 per cent.

Related Posts

  • Pharma
  • July 2, 2024
  • 47 views
Drugmakers’ Appeal To End Zantac Cancer Lawsuits Rebuffed By Judge

London: A Delaware judge rebuffed a request by GSK and other drugmakers to appeal a ruling allowing more than 70,000 lawsuits claiming that the heartburn drug Zantac causes cancer to go…

  • Pharma
  • July 2, 2024
  • 63 views
Govt Launches Portal To Tackle Drug Abuse In Children

New Delhi: In a bid to protect children from drug and substance abuse, a portal has been launched to create a robust monitoring system to prevent the sale of contraband…

Leave a Reply

Your email address will not be published. Required fields are marked *

You Missed

Drugmakers’ Appeal To End Zantac Cancer Lawsuits Rebuffed By Judge

Drugmakers’ Appeal To End Zantac Cancer Lawsuits Rebuffed By Judge

Govt Launches Portal To Tackle Drug Abuse In Children

Govt Launches Portal To Tackle Drug Abuse In Children

Punjab HM Bats For Bringing Parity In Prices Of Same Salt Medicines

Punjab HM Bats For Bringing Parity In Prices Of Same Salt Medicines

Mumbai: Drug Lord Reveals A Web Of Ops

Mumbai: Drug Lord Reveals A Web Of Ops

Pharma Sector Sees Rs. 29,268 Crore Increase Under PLI Scheme By May 2024

Pharma Sector Sees Rs. 29,268 Crore Increase Under PLI Scheme By May 2024

UP Man Arrested In Major Fake Medicine Racket

UP Man Arrested In Major Fake Medicine Racket