Ajanta Pharma

Ajanta Pharma Limited (APL) is a multinational company based in India engaged in development, manufacturing, and marketing of pharmaceutical formulations. It has a presence in India, the United States, and about 30 other countries in Africa, Asia, Middle East, and CIS. It was established in 1973.

Ajanta Pharma Limited
TypePublic Company
IndustryPharmaceuticals, Drugs & Healthcare
Founded1973
Headquarters
Mumbai, Maharashtra[1]
,
India
Key people
Yogesh Agrawal, Managing Director. Rajesh Agrawal, Joint Managing Director
ProductsBranded Generic Formulations / Medicines
Revenue ₹2,155 crore (US$300 million) (2017–2018)
Number of employees
6,500+
Subsidiaries
  • Ajanta Pharma (Mauritius) Ltd
  • Ajanta Pharma Philippines Inc.
  • Ajanta Pharma USA Inc.[2]
  • Ajanta Pharma Nigeria Ltd.[3]
Footnotes / references
;[1][2][3]

Markets and business

Ajanta Pharma has over 1,400 products registered currently in various countries and an equal number of products are under approval. In India, the company is a branded generic company focused on a few high growth specialty therapies in ophthalmology, dermatology, cardiology, and pain management.

Ajanta Pharma exports products to over 30 countries in Asia and Africa. In these markets, the company serves a wide range of therapeutic products in the areas of antimalarial, cardiovascular, gastrointestinal, antibiotic, dermatology, antihistamine, multivitamin, gynecology, and pain management.

Ajanta Pharma has recently stepped up its presence in the United States with a select product portfolio, which includes niche and complex technology products. Currently, the company has 27 products in the US market.[4]

History

In the early 2000s, Ajanta was noted as a major source of foreign currency, alongside Reddy Labs, arising from sales in Southeast Asia.[5] In particular, in 2003, a joint-venture between Ajanta and the Ministry of Health in Turkministan accounted for fully half of the pharmaceutical needs of the country.[5] The company had made several other joint-ventures with regional governments, such as Uzbekistan, Kazakhstan, Kyrygyzstan and Tajikistan, which it severed in the 2010s due to their being unprofitable.[6]

The company experienced an enormous loss in 2005[nt 1] in terms of diminution of the value of investments, amounting to four-times the year's profits.[7] That same year, the company was noted as having the highest sales in India for any Indian pharmaceutical company, with sales of ₹13.56 billion.[8]

In 2015, the company was highlighted as having had exceptional stock appreciation over the preceding four years, and the listing of the stock on the BSE 500 was noted.[9] By 2019, the stock was listed on the S&P BSE 200 index.[10]

Manufacturing facilities

Ajanta Pharma operates seven manufacturing facilities; six within India and one in Mauritius. In India, five facilities manufacture finished formulations, including Dahej and Paithan plants which is approved by the US FDA and Guwahati plant which caters to domestic and emerging markets. Another plant manufactures active pharmaceutical ingredients (APIs) primarily for captive consumption.

Bayer[nt 2] filed suit before the Delhi High Court accusing Ajanta of patent infringement on the erectile dysfunction treatments vardenafil and vardenafil hydrochloride.[11] Ajanta argued that Bayer was not using its patent in India for the benefit of India, which led the court to provide partial relief to an injunction granted to Bayer, allowing Ajanta to manufacture but not sell the product, in January 2017.[11] Bayer and Ajanta reached an unspecified agreement after mediation was ordered by the court in February 2017.[11]

References
  1. "Welcome To Ajanta Pharma". Ajantapharma.com. Retrieved 29 February 2016.
  2. "Stock Snippets". Daily Market Insights. TriFid Research. 15 June 2016. p. 2 – via Internet Archive. Ajanta Pharma announced the launch of anti-dementia Memantine Hydrochloride tablets in the US market through its wholly-owned subsidiary Ajanta Pharma USA Inc.
  3. "Ajanta Pharma Limited - Our Business". Company. Retrieved 29 February 2016.
  4. http://www.ajantapharma.com/AdminData/Results/Q3FY2019PressReleaseandResults.pdf
  5. Lal, Rollie (2006). Central Asia and Its Asian Neighbors: Security and Commerce at the Crossroads. United States: Project Air Force (Rand). pp. 32–3. ISBN 0-8330-3878-8 – via Google Books (Preview).
  6. GOI Considering Russian Thrust in Central Asia (Partial extract from original diplomatic, classified cable). United States Department of State. 26 September 2015. p. 2. Retrieved 8 December 2019 – via Internet Archive.
  7. "Investments". Accounting & Analysis: The Indian Experience (Professional ed.). Global Data Services of India (CRISIL). 2006. p. 153. ISBN 9788190342704 – via Google Books (Preview).
  8. Thukral, R. K., ed. (2016). India Top 10 Year Book 2016. New Delhi, India: Publication Cell (Datanet India). p. 85. ISBN 978-93-80590-60-8 – via Google Books (Preview).
  9. Oberoi, Rahul (April 2015). "Bullish Moves: We discuss three ratios that can help identify good stocks". Money Today. Vol. 10 no. 4. New Delhi, India: India Today Group. p. 49 – via Internet Archive.
  10. "Ajanta Pharma Ltd Live Stock Price , Ajantpharm Live Share Price, 532331". BSE. 8 December 2019. Archived from the original on 9 December 2019. Retrieved 8 December 2019.
  11. Kleyn, Madelein; van Wyk, Louis, eds. (2019). International Pharmaceutical Law and Practice. LexisNexis. pp. §14.09[11]. ISBN 9781579114725 – via Google Books (Preview).

Notes
  1. Year ending 31 March 2005
  2. Specifically Bayer Intellectual Property GMBH

Further reading

Patent applications in India

Products subject to price control in India
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