Alembic is celebrating its centenary year in 2007-08. On the occasion of the centenary celebration, Dr. APJ Abdul Kalam, former President of India was the chief guest and Mr. Narendra Modi, Chief Minister of Gujarat was the guest of Honour.

Speaking on the occasion, Mr. Modi profusely complimented Mr. Chirayu Amin and his family members for 100 successful years of service to humanity by producing and marketing quality drugs at affordable price. He also announced setting up a Bio Technology Park in the city of Vadodara.

In his key note address Dr. Kalam expressed his vision of making India hub for scientific research and pharmaceutical manufacturing. He challenged the pharmaceutical industry to set itself a target of producing 40% of world’s generic medicines. He also touched upon various opportunities to Indian Pharmaceutical Industry in fields of collaborative research with national research laboratories for curing diseases like TB, Typhoid, Malaria, etc.

Dr. Kalam and Mr. Modi released a set of two books on 100 Year Journey of Alembic Ltd.

Earlier Mr. C R Amin, Chairman & Managing Director of Alembic Ltd. in his welcome speech assured the dignitaries that Alembic would continue to be socially responsible, knowledge driven and people centric organization. He also said “After, reaching 100 years, we confidently and proudly enter the next centenary with a rich history, experience and value system. Alembic is looking at the future with confidence and our next target is to touch Rs 2000 crore turnover in the next four years”.

To reach the Rs 2000 crore mark, Alembic is looking at organic and inorganic opportunities to increase its business. International business is expected to contribute 45% to total revenue in the next four years from the current 25%.

The centenary year has been quite eventful for Alembic with the acquisition of Dabur’s non-oncology business and the NDDS deal with UCB Pharma SA. The company is also expected to sign a contract manufacturing agreement with a large pharma multinational. Details of the deal were not disclosed due to confidentiality clauses.

Alembic has an USFDA approved API manufacturing facility at Panelav near Vadodara. The Company recently bought an API manufacturing facility of Nirayu Pvt. Ltd in Gujarat, which will further strengthen its API (bulk drug) portfolio. The company’s formulation facility at Panelav has also been successfully inspected by USFDA and a formal approval is expected shortly.

For the nine months ended December 31, 2007 the company recorded sales of Rs 759 crore, which is more than the annual sales of Rs 721 crore in the previous financial year. In the current year, the company is confident to touch Rs 1000 crore mark.

Sourced From: Adfactors Public Relations Pvt Ltd

Tags: calls, daytrading, free calls, intraday, tips

Similar Posts:

• Alembic Q3FY08 sales at Rs 265cr up 39%
• Alembic’s revenues up 42% at Rs 1027cr
• Sun Pharma unit gets warning from USFDA
• Buy Sun Pharmaceutical, target of Rs 1498: Sharekhan
• Piramal Glass cons revenues grew 21.8% to Rs 2.3bn