Ajanta Pharma Looks to Expand Presence in High-growth Asian, African Geographies

Ajanta Pharma is looking to expand its presence in certain geographies with significant development potential in Asia and Africa as part of its growth strategy. The Mumbai-based drugmaker indicated in its Annual Report for 2022-23 that it plans to depend on its strengths to grow quicker in countries where it has a presence with its line of branded generics. "As we achieve formidable positions in many markets, our strategy now entails enhancing focus on select countries from our geographical presence, which promises high growth potential," Ajanta Pharma notified its shareholders.

These territories have a large branded generics pharma market size, but the company's footprint is still limited, according to the company. "We intend to increase our presence in these markets and add value to patients' choices through our differentiated product portfolio," the pharmaceutical company stated. In FY 2023, the company's branded generics division accounted for 73% of total revenues, with India, the rest of Asia, and Africa contributing 31%, 26%, and 15%, respectively. Ajanta Pharma stated that it has increased capital allocation to branded generics companies across India, the rest of Asia, and Africa in order to meet its ambitions.

"Our strategic intent is reflected in our efforts during FY 2023 to triple our product filings and increase team size by 50% in the rest of Asia and Africa markets," the company stated. The firm would continue to work on this strategy in order to grow in the next years, it added. It also plans to enhance the productivity of existing 4,500 plus field teams spread across India and rest of the world markets by enabling them with more digital tools and helping them get the most out of the growing portfolio, the drug maker stated. Ajanta Pharma posted a revenue of Rs 3,743 crore in FY23.