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Indoco Underperforms Amid Difficulties At Goa Plants

Company Now Facing Losses Following Fire At Waluj Facility

 
• By Chloe Kent

Difficulties at two of its manufacturing facilities in Goa have led to a disappointing Q1 for Indoco, as the firm saw milestone payments delayed after receiving official action indicated status from the FDA.

Visual depiction of declining stocks on fire
Production has resumed at Indoco's Waluj plant following a fire on 29 July • Source: Shutterstock

Despite a revenue rise of 4.5%, Indian pharma firm Indoco Remedies Limited started off the 2023 financial year with a rough Q1 as rising costs, lower income and a higher effective tax rate saw year-on-year profits plunge 37%.

Indoco’s US business revenue slid 28% quarter on quarter, despite launching the first generic to Teva’s Azopt (brinzolamide) in...

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• By Dave Wallace

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Loss Of Exclusivity Product Launches To Fuel Aurobindo’s FY26 Europe Growth

 
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• By Anju Ghangurde

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More from Business

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• By Dave Wallace

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Zydus Strikes Landmark $141m Agreement To Break Into Global CDMO Business

 
• By Dean Rudge

Zydus Lifesciences said it would be able to leverage supply chain dynamics and a “favorable geopolitical environment” to expand its reach in the US and globally as it penned a trio of agreements to plant its flag in the global CDMO space.

Dr Reddy’s And Alvotech Team Up On Keytruda Rival

 
• By Dave Wallace

After previously partnering on denosumab, Alvotech and Dr Reddy’s have announced a further alliance to co-develop a biosimilar version of Keytruda (pembrolizumab).