|Message From the Top Management :
Indoco Remedies has achieved yet another milestone this year, with total revenues crossing 1000 crores.
This leap has been possible due to the untiring spirit of Indocoites and support of our Customers in India
and across the globe.
At the beginning of the year, a major restructuring exercise was initiated in the Domestic formulation business
to ensure market penetration by way of prescription growth from speciality segments on a sustainable basis.
The domestic formulation business introduced twenty new products during the year, a few of which, were first
time introductions in the Indian market.
It gives us great pleasure in informing you that the Company has received the Establishment Inspection Reports (EIRs) from USFDA for its
sterile and solid dosage facilities (Goa Plant I and II). These approvals confirm the closure of inspection conducted by USFDA in
July 2015 and October 2015. With these approvals, all our finished dosage manufacturing facilities in Goa and two of our API
manufacturing facilities in Patalganga and Rabale are USFDA approved.
International business is steadily increasing its contribution to the total revenues of the Company, which has gone up to
43% as compared to 37% last year.
Company's Clinical Research Organisation (CRO, Hyderabad), specialized in conducting bio-equivalence studies
(Acquired from Piramals in April 2015) is now fully integrated. During the year, the CRO conducted 46 studies,
of which, 11 were for sponsors outside India.
To meet the anticipated increase in demand, the Company is investing in building capacities both for APIs as well as Finished Dosages.
The New API facility at Patalganga is in the construction phase and new facilities for sterile and solid dosages are in the planning stage.
We express our gratitude to all our Stakeholders, including, shareholders, customers, bankers and the medical fraternity for their
whole-hearted support. We thank all Indocoites for their contributions, which we value the most.
Thanking you all,
SURESH G. KARE
SUNDEEP V. BAMBOLKAR
Jt. Managing Director