Lincoln Pharma all set to foray into regulated markets
Ahmedabad-based drugmaker Lincoln Pharmaceuticals plans to foray into regulated markets such as Europe, Australia, and Brazil, in line with its plan to grow overseas footprint.
The company has upgraded its manufacturing facility at Khatraj near Ahmedabad with ~30-crore investment to meet regulatory standards of these countries. It is also planning a green field facility, which would be built as per regulated market standards to cater exclusively to these regions.
“Documents and dossiers are ready for products meant for regulated markets. Inspection by regulatory authorities from these markets is also in the process. We should be able to enter the countries with 5-6 products in the next six months,” said Mahendra Patel, managing director, Lincoln Pharmaceuticals.
The company has developed 300-plus formulations in 15 therapeutic areas, with product/brand portfolio in antiinfective, respiratory system, gynaecology, cardio & CNS, anti-bacterial, anti-diabetic, anti-malaria among others. Of the 20 patent applications it has filed, the company has been awarded five patents.
More than 65 per cent of the company’s revenues comes from exports, a share that could go up further post Lincoln Pharma's foray into regulated markets.
With presence in more than 60 countries, the company has reported export sales of ~174.7 crore for the nine months ended December 2019 and expect the same to cross ~225 crore in FY20. However, with the company expanding portfolio in lifestyle and chronic, it is targeting sales of ~500 crore in the next 2-3 years, said Patel.
“Going forward, we are building a strong portfolio in lifestyle and chronic segment, especially in women health care and dermatology, to complement our strong presence in acute segment,” said Patel, adding that the company was also planning to apply for a global patent for this novel solution.
Meanwhile, the company recently approved amalgamation of Lincoln Parenteral (subsidiary) with Lincoln Pharmaceuticals. The restructuring aims to bring synergies for both companies.