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Apex Laboratories target Rs 750 cr turnover

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Chennai, Feb 7 (IANS) Focusing on chronic ailment segments like diabetes, introduction of line extension for its flagship product Zincovit, getting regulatory approvals for its plants to export to Europe, US and other markets are some of the plans of Apex Laboratories to touch a turnover of Rs 750 crore by March 2021, said a senior company official.

“Zincovit is about a Rs 200 crore revenue product. We will be launching line extensions for geriatric patients and for women. Already sugar free Zincovit and Zincovit – CL – for improvement of Vitamin C and Lysine for growth and improvement of appetite of adolescent children has been launched,” S.V. Vishagan, Executive Director – Business Development told IANS on Wednesday.

He said, the company’s rapid wound healing product now exported to some markets, is being targeted for regulated markets and and necessary steps for that are being taken.

The company is also into dermatology, pain management, anti-infectives, anti-viral, nutraceuticals and herbal products.

Vishagan said the company will launch more herbal based over-the-counter products to be sold in retail outlets including modern retail trade/department store chains.

“We have about 22 IPRs and have patents from several countries. The idea is to house these IPRs in a separate company and go for PE funding. We don’t have plans to take Apex Laboratories public,” Vishagan added.

“We will be closing the current year with a turnover of Rs. 500 crore. Once exports-now at about Rs 60 crore picks up in the regulated markets and new products are launched in the domestic market, the turnover will touch Rs.750 crore by the end of fiscal 2020-21,” Chief Financial Officer V. Viswanathan told IANS.

He said nearly 2 per cent of the turnover is spent on research and development per year.

Meanwhile, Vishagan set to become the son-in-law of actor Rajnikanth soon, laughs when asked on a lighter vein whether the company’s products would have the tagline “oru tablet saapita, 100 tablet saapita madhiri” (taking one tablet is equivalent to taking 100 tablets).

One of the famous one liners of Rajinikanth in the movie “Baadsha” was “naan oru thadava sonna nooru thadava sonna madhri” (If I tell once, it is like telling 100 times).

He will be marrying Rajinikanth’s daughter Soundarya.

Vishagan said Apex Laboratories would be an ethical marketing company, that is, majority of its products would be sold on doctor’s prescription.



(This story has not been edited by Newsd staff and is auto-generated from a syndicated feed.)
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