Kopran is being mopped up by investors on Wednesday after the company announced that its formulation won the nod from regulators in South Africa.
As a result, the scrip spurted 5.01% to Rs 29.35 by 10:40 IST. Volumes of 58,795 Kopran shares were registered on BSE so far. But the scrip's fortunes have not been impressive over the past one month (between 23 January and 25 February 2003), having lost 36.8% to Rs 27.95 from Rs 44.20.
The company yesterday announced that it has received a regulatory nod for its formulation product Bren-400 (Ibuprofen tablets) in South Africa from the Medicines Control Council. This proves a major landmark for the company. Also, to strengthen its international formulations business operations in South Africa, Kopran has entered into a strategic alliance with Be-Tabs - one of the country's leading generic pharmaceutical companies. Kopran and Be-Tabs have entered into a long-term agreement for both brand distribution and contract manufacturing business in that country.
Late January 2003, the company also reported that it had launched two cardiovascular drugs Caditone and Zeter. Caditone is used to treat hypertension and congestive cardiac failure drug carvedilol, while Zeter treats clotbuster clopidogrel. Both the products have been launched at 25% and 50% discounts respectively to competing products.
Early January 2003, Kopran announced the launch its first lifestyle brand Nyte (Sildenafil Citrate) for erectile dysfunction. The pink color tablet Nyte was developed and formulated at the company's R&D centre and is manufactured at its Khopoli plant.
A 50 mg tablet of Nyte costs Rs 10.28 whereas Sildenafil Citrate tablet of the same strength marketed by other companies costs as much as Rs 18, the company said. Thus, with Nyte, doctors will be able to help their patients with erectile dysfunction reduce treatment costs by 57%.
Last month, Kopran confirmed the receipt of drug marketing authorisation for Roxythromycin, a macrolide antibiotic manufactured at its Mahad bulk drug plant, which will enable it to enter the biggest regulated generic markets of the world.
Along with its German business partner Helm, Kopran has already forayed into long-term agreements with leading generic companies to sell Roxythromycin in Europe and Scandinavia, where the product is already off patent. In France, Roxythromycin will go off patent from August 2003.
Germany and France are the biggest generic markets in the European Union.
The company now plans to launch 12 new brands in the domestic market. These include Losan (losantan), Ventair (montelukast), Ventipra (inhaler) and Piotop (pioglitazone) .
In its latest annual report, the company claims that its research team has patented new processes for several products going off-patent in the future.
For the third quarter ended 31 December 2003, the company reported a net loss of Rs 5.34 crore compared to a net profit of Rs 2.80 crore in the corresponding period of the previous year. Net sales also dropped by 75.5% to Rs 25.31 crore from Rs 103.17 crore in DQ 2001.
As on 31 December 2003, promoters held 37.39% stake in the company, while the public and domestic institutions held 34.53% and 8.75%, respectively.