Natco Pharma is considering an acquisition to spur corporate growth. The company is expanding its subsidiary operations abroad and opening offices in Colombia and Indonesia.
Rajeev Nannapaneni, Natco Pharma’s director and chief executive officer, said the company is considering an acquisition to spur corporate growth.
“We are looking at several strategic options and have cash on hand. We intend to make a modest acquisition. When asked about the company’s growth strategies, the CEO responded, “We are internally aiming for acquisition plus organic growth.
Nannapaneni acknowledged that the local market “is doing well,” but added that the company was also considering an acquisition and launching 10 to 15 new products annually. About 11 medications were introduced by the pharma manufacturer in Hyderabad last year.
Natco Pharma reported consolidated sales of Rs 2,812 crore for the year ended March 31, 2023, up from Rs 2,044 crore the previous year, representing a rise of 37.6%. Additionally, the company reported consolidated net profit of Rs 715 crore, up from Rs 170 crore the previous year. Business expansion in the US market, as well as Canada and Brazil, where it has subsidiaries, was the primary factor in the increase in sales and profits for the year.
Additionally, it is in the midst of expanding its subsidiary operations abroad and opening offices in Colombia and Indonesia, each with a potential investment of up to $100,000.
The CEO added, “The subsidiaries are performing really well. It is looking to purchase an asset in the UK as part of the’multi-pronged’ plan to develop foreign operations. The subscribers are the company’s key to success. They provided roughly Rs. 555 crore in revenue to the FY23 balance sheet.
Additionally, Natco is attempting to go worldwide and leverage its R&D pipeline to expand into several areas. Natco Pharma is considering an acquisition to spur corporate growth. The company reported consolidated sales of Rs 2,812 crore for the year ended March 31, 2023, up 37.6% from the previous year.
It is expanding its subsidiary operations abroad and opening offices in Colombia and Indonesia. It is also looking to purchase an asset in the UK as part of its multi-pronged plan to develop foreign operations. Subscribers are the company’s key to success, providing Rs. 555 crore in revenue.
