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Aurobindo Pharma draws around Rs Rs 1,400 cr capex for FY20

Tuesday, 18 Jun 2019
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Aurobindo Pharma, Hyderabad based pharmaceutical manufacturing company, has drawn a capital expenditure (capex) of USD 200 million (nearly Rs 1,400 crore) for FY20.

The investment will be used to create finished dosage and active pharmaceutical ingredients (API) capacities. This includes formulation facility for derma.

The company also plans to expand API capacity with the growing need as well as bringing certain APIs that are needed for the future. The capex of the company for FY19 was USD 225 million.

Aurobindo Pharma will be stepping up R&D spends in FY20 to about 5-6 percent of sales from 4.5 percent in FY19. The company will commence Phase-I for at least two to three biosimilars and one Phase-III in 2020. Ten hormonal and 65 onco products with an addressable market of USD 43 billion are under development while plans are afoot to file around 18-20 ANDAs in FY20.

The acquisition of Sandoz is expected to be completed in the next few weeks as the company is in the last leg of obtaining FTC approval.

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