Caplin Point Laboratories received the US Food and Drug Administration.
(USFDA) nod for its generic medicine for blood pressure. The product is of strategic importance to the company because of some of the other drugs that it has in similar therapeutic segments.
“This is a product that we filed for approval last year. We have been expecting approval for the last few months for this product,” Vivek Siddharth, COO of the company, toldCNBC-TV18.
“The market size for this has reduced over the last couple of years. It is of strategic importance to us because of some of the other products that we have in similar therapeutic segments. In terms of commercialisation, we are looking to launch it in the next few weeks,” he added.
Speaking about the pipeline, he said, “We can expect at least 4 more approvals within the next 6 months and a couple of them definitely much larger molecules than the one that we got an approval for.”
“We have also tried to work on a bit of complex pipeline as it stands and the other big push that we are getting into right now is backward integration into our own API for captive consumption,” Siddharth added.
Talking about geographical growth, the COO said, “Today close to 85 percent of our revenues comes from Latin America, so there is growth in Latin America for us. The US has been good so far. We were looking at 2-2.5 percent last year and now we are likely to end this year with about 10 percent of our revenues from the US. Next year’s pipeline is definitely looking solid.”
About fund-raising, Siddharth said, “We are pretty much self-sufficient right now. We are sitting on a decent amount of surplus. So we are not looking at any sort of fund-raising and also we do not have any debt on our books and it will continue to remain that way.”