LAURUS LABS Q2FY24 Earnings Call Highlights
Executed on several important business development transactions last quarter, and further accelerating strategic manufacturing partnerships. Investment into disruptive technology is progressing well.
CDMO business project pipeline have continued to scale up along with the expansion of new partnerships. Cost improvement programs are also progressing as expected.
Following the recovery in Q2, remain optimistic for a better H2, presenting from both healthy order book and strong commercial execution capabilities.
Remain fully committed to stabilize ARV franchise business throughout FY '24 and beyond while navigating the pricing headwinds.
Awarded with 20% of recent NACO tender for supply of key products, and this is maiden successful bid in the Government of India tender for the supplies of HIV products in India.
Anticipate that the remaining FDF brownfield capacity that was added in the last year should start to get optimally utilized by end of this year.
In the Onco API space, the sales for the quarter rebounded and delivered a strong revenue increase over 100%, year-on-year to INR 217 crores. In H1, the growth is over 50%.
Augmenting new capacity for oncology products to accommodate the increased demand. Aim to strengthen global leadership in some of the existing products by focusing on higher volumes and adding new potent molecules.
Animal health unit initiated commercial validations from this month and should gradually scale up. R&D center is likely to get commissioned by end of FY '24.
Optimizing capacities at Laurus Bio R2 with the large-scale CDMO partners and expect increased downstream capacity to come online by December 23. This unit will achieve its peak revenues during FY '25. Progress on new greenfield site at R3 is on track, and have completed the design phase.
ImmunoACT has partnered with a Mexican Ministry of Health, and trials will be done in Mexico, and in the process of finalizing some licensing deals with an European company. So next year, expect clinical trials will start in Mexico for this product.
In the last 3 years, added 3 million liters capacity and 5 billion tablet capacity. So all those will be utilized in the next financial year onwards.
Not expecting any new commercial sales during the second half. Only anticipating supply our pace to Phase II quantities in the second half.
In Crop Sciences, signed 1 commercial agreement, 1 development agreement, and will also sign a second commercial soon.
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