Page 151 - CW E-Magazine (19-3-2024)

Pharmaceuticals Hydrocarbons

GROWTH TARGET TREND REVERSAL?
Supriya Lifescience expects to double revenue OPEC expects share of Indian oil imports to rise

to Rs. 1,000-crore in three years again

Supriya Lifescience expects to dou- after reaching full operational capa- lated markets, besides seeking con- The Organization of the Petroleum became the biggest buyer of seaborne OPEC supplied 54% of India’s
ble its revenue to Rs. 1,000-crore in city, this can double the top line to tract development and manufacturing Exporting Countries (OPEC) is set Russian crude in the aftermath of imported oil in January, according to
the next three years by venturing into Rs. 1,000-crore by FY27. opportunities. The entry into contract to win a bigger share of India’s oil Moscow’s invasion of Ukraine. industry sources.
higher-margin earning niche segments development and marketing is expec- imports in coming decades due to
next fi scal, a news agency report said Ms. Saloni Wagh, his daughter ted to boost growth to the extent of the proximity of its supplies, the pro- “OPEC Middle East producers “We expect levels to rise further in
quoting the company’s founder-Chairman, and a Whole-Time Director, said the Rs. 100-120-crore over the next two-three ducer group’s head told Reuters, after remain ideal suppliers to the Indian mar- the coming decades as India’s economic
Mr. Satish Wagh. expansion and the entry into newer areas years and the rest of revenue growth its dominance was recently eroded ket, given their close proximity. It is a development continues,” Mr. Al Ghais
can help them get above 28-30% gross will be incremental from the existing by competition from discounted perfect supplier-consumer fi t, and cost said, adding that “many” national oil
The Mumbai-based Active Pharma margins once the new products stabilise products as Dhapoli, which capacity Russian oil. effi cient for all parties,” Mr. Haitham companies from OPEC members plan to
ceutical Ingredient (API) maker is and enter more regulated markets. is getting boosted by almost 80% with Al Ghais, OPEC’s Secretary General, invest in India’s refi ning sector.
expanding its product basket by entering the ongoing expansion. The share of oil from OPEC said in an emailed response to Reuters
the oral solid dosages (OSD), liquid As the company is diversifying out- imported by India declined from about questions, adding he sees a greater role India plans to expand refi ning capa-
inhalers and injectables for which a side China and entering new categories Mr. Wagh said the company is 65% in 2022 to 50% last year, accord- for OPEC members in India’s develop- city to 9-mbpd (million barrels per day)
new facility, with an investment of it expects revenue growth of 21-22% in building two new R&D centres – one ing to industry data, after New Delhi ment beyond oil. by 2030, from 5.02-mbpd currently.
around Rs. 60-crore, is coming up at FY25, she said. in the existing Lote near Dhapoli facility
Ambernath near Mumbai. for product lifecycle management, Share of Russian crude in India’s imports up at 32%
The company achieved a revenue and the other in Ambernath with a pilot
The company is expanding its of Rs. 460-crore in fi scal 2023, with plant for new molecules and con- in February
existing product basket by adding six to 28-30% operating margin. tract development and marketing. The
seven molecules targeting anti-anxiety, company has also leased out an 80,000
anaesthesia and anti-diabetes. It is To achieve its growth target, the square metre land parcel from the Russia expanded its share in Russia has remained India’s top plies on a delivered-at-port basis and,
also diversifying into contract manu- company is investing in R&D to Maharashtra Industrial Development India’s crude oil imports to 32% in supplier for about one-and-a-half years, therefore, shoulder no transit risk. But
facturing services, which could poten- build a pipeline of new molecules at Corporation at Isambe Industrial Park February from 27% in the previous despite Western sanctions and narrow- if ships get sanctioned on their way to
tially boost margins by 4-5 percentage its Dhapoli, Raigad plant, and is also near Pen in the Raigad district, for APIs month, little affected by Red Sea ing discounts on its crude. Indian ports, refi ners refuse to receive
points, Mr. Wagh said. He added that readying to enter new and highly regu- and intermediates. tensions and helped by rising demand supplies as paying for them would
from state-run refiners in India. Indian refi ners take Russian sup- become diffi cult.
EXCLUSIVE DEAL
Saudi Arabia became India’s sec-
Mankind Pharma to distribute AstraZeneca’s anti-asthma ond-largest crude supplier in Febru- MRPL receives fi rst oil cargo from
drug in India ary, with its share rising to 19% from ONGC’s KG 98/2 block
14%. Iraq was a key loser, falling to
18% from 24%. In November, Russia The fi rst cargo of ONGC’s newly storage offloading (FPSO). The oil
AstraZeneca Pharma India, the Symbicort is one of the top-selling Mankind Pharma is the fourth largest had a share of 35%, which fell in explored crude oil from its deep-water is stored on the FPSO, and once it
local unit of British-Swedish drugmaker, products for AstraZeneca globally with company in the domestic branded formu- both December and January before project, KG 98/2, was received at reaches a critical level, it is trans-
AstraZeneca, said it has entered into sales of around $2.4-bn in 2023. lation segment, with an expansive distri- recovering in February. State-run Mangaluru on March 9 in an event ferred to a ship, which carries it to
exclusive pact with Mankind Pharma bution network including close to 16,000 refiners accounted for 61% of total held at Mangalore Refi nery and Petro- a refinery.
to distribute the former’s anti-asthma “The partnership with Mankind fi eld force and more than 13,000 stockists 1.41-million barrels per day (mbpd) chemicals Ltd. (MRPL).
inhaled corticosteroid drug, Symbicort Pharma presents an opportunity to across India. “Symbicort’s dual mecha- of crude India received from Russia “This sweet (low sulphur) indige-
in India. accelerate access and maximise the nism of action and ease of use in a single in February, according to energy cargo In January, ONGC had started nous crude is poised to be trans-
potential of our asthma drug as well inhaler can greatly help patients manage tracker, Vortexa. These companies’ oil production from its Krishna formed into various fuels and petro-
AstraZeneca will retain the intel- as the ‘turbuhaler’ which is a simple these conditions and improve their quality combined share expanded from 52% Godavari basin KG-DWN-98/2 (KG- chemicals at MRPL, Mangalore,
lectual property rights to Symbicort – a device, effi cient in consistently deli- of life. Through our fi eld forces’ extensive in January as their daily import volume D5) block, lying in Andhra offshore. contributing impactfully to the
combination of budesonide and formo- vering a higher proportion of respirable outreach, we hope to strengthen access jumped by a quarter in a month The fi eld is producing some 12,000- Atmanirbhar Bharat mission of the
terol fumarate dihydrate – and will con- particles than the other devices,” said across urban and rural markets,” said while private sector refiners’ intake 12,500 barrels of oil per day currently, Government of India,” MRPL said
tinue to be the marketing authorisation Mr. Sanjeev Panchal, Country President Mr. Atish Majumdar, Senior President – fell by 12%. using a floating production and in a statement.
holder (MAH) and import license. and MD, AstraZeneca India. Sales & Marketing, Mankind Pharma.

150 Chemical Weekly March 19, 2024 Chemical Weekly March 19, 2024 151

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