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Aurobindo Splits Out Biosimilars Business

Firm Upbeat On Outlook As It Seeks FDA Desk Reviews For Three Units

 
• By Vibha Ravi

After double-digit growth in formulations sales across geographies in the fourth quarter, Aurobindo expects to continue the momentum this fiscal year. Meanwhile, it might look for partners for its biologics business, which it has now transferred to its fully-owned subsidiary for $48m.

Business growth
Aurobindo Looks For Growth As It Carves Out Biologics Business • Source: Shutterstock

Aurobindo Pharma doesn’t see major disruptions to its business on account of COVID-19 and expects its strong showing in the fourth quarter of fiscal 2020 to continue in the current fiscal year as well. A growth in volumes, backed by 50-60 product launches, should see gross margins of 58-59%.

Higher sales of antibiotics, antivirals and protein drugs due to short-term shortages and anticipatory stocking by customers as the pandemic disrupted supply chains aides sales in the final quarter ended 31 March

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