Wanbury, the largest global manufacturer of diabetes management drug metformin, plans to acquire contract research and manufacturing services companies in the US and Europe.
Wanbury, which entered the $20-billion global CRAMS business scene a year ago, is targeting business worth over Rs 100 crore (Rs 1 billion) within the next 18-24 months.
"We are looking at targets with a bottom line of Rs 50-60 crore (Rs 500-600 million) to expand our CRAMS business in various markets," said Ashok Shinkar, director, Wanbury. The company plans to increase its turnover to over Rs 900 crore (Rs 9 billion) within the next three years.
Wanbury, one of the largest global suppliers of active pharmaceutical ingredients such as metformin, tremadol (a pain killer) and salcilate (a major ingredient in aspirin), is already a contract manufacturer for four major multinational pharmaceutical companies in the US and supplies products to over 200 customers.
It manufactures 14 APIs and has filed drug master files for selling another 25 APIs, he said.
The company, which bought a Spanish branded formulations company Cantabria in Spain for about Rs 250 crore (Rs 2.5 billion) last year, is also eyeing brand acquisitions in the domestic market. Its domestic formulation business, now worth Rs 80 crore (Rs 800 million), has four brands with over Rs 10 crore (Rs 100 million)
sales in the domestic market.
Wanbury is the fastest growing domestic pharmaceutical company among the top-150 pharma companies, according to the data of ORG-IMS, which tracks the domestic drug retail sales.
C-Pink, an iron supplement for the treatment of anaemia with sales of Rs 20 crore (Rs 200 million) last year, was also adjudged the Best Launch of the Year by ORG-IMS.
"We target Rs 250 crore (Rs 2.5 billion) from the domestic formulation business within three years with an addition of 18 new products in another 12-18 months. Further, we will in-license drugs from other companies from a targeted basket of about 80 drugs," said Ashok Shinkar.
Orthopaedics and diagnostics are the new areas identified for growth. Plans are to generate a minimum of Rs 400 crore (Rs 4 billion) business annually from APIs, Rs 300 crore (Rs 3 billion) from Cantabria and about Rs 250 crore from the domestic business within three years.
The company is expected to post over Rs 375 crore (Rs 3.75 billion) during the current financial year with a net profit margin of 10-12 per cent, said the executive.