Alkem Laboratories debuts 32% higher on BSE


Alkem Laboratories, a Rs.3,900 crore plus pharma giant with total 16 manufacturing facilities including two in US, has commenced trading on BSE today with 31 per cent higher from its issue price of Rs.1050. The equity shares of Alkem (Scrip Code: 539523) have listed and admitted to dealings on the BSE in the list of ‘B’ group securities. It reached an intra-day high of Rs.1,410 in the afternoonAlkem-Laboratories trading. The company’s IPO opened on December 8 with price band of Rs.1020-1050. The company issued 1.28 crore equity shares and offer constituted 10.75 per cent of post-offer paid-up capital as promoters reduced their stake from 70.87 per cent to 66.23 per cent. The public issue was oversubscribed by over 44 times.

Alkem Labs, established in 1973, has clocked consolidated net sales and operating income of Rs.3,789 crore during the year ended March 2015 as compared to Rs 3,126 crore in the previous year, a growth of 21.2 per cent. Its net profit moved up by 6.3 per cent to Rs.463 crore from Rs.435 crore. As against the equity capital of Rs.23.91 crore, its reserves and surplus amounted to Rs.2,971 crore. For fiscal year 2015, its domestic and international operations accounted for 74.7 per cent and 25.3 per cent respectively. During last five years, Alkem’s net revenues grew at a CAGR of 22.3 per cent.

It has a portfolio of 736 brands in India and it is focusing on therapeutic area like anti-infective, gastro-intestinal, pain and analgesics, and vitamins, minerals and nutrients. Further it also engaged in other areas like neuro-psychiatry, cardiology, dermatology, diabetology and oncology. These therapeutic area accounted for 80.7 per cent of its total sales in the domestic market. The company is spending over 4.5 per cent on R&D with the help of 480 scientists.

It filed 69 ANDAs in US and received final approval for 21 ANDAs upto end of October 2015, of which 30 were Para IV filings including first-to-files and one new drug application. Similarly it filed 14 drug master files in US. It also filed 22 dossiers in Australia, 16 in Europe and 1,166 dossiers in other markets for approval to sell generic drugs in various other countries. Besides, US, it has strong presence in Australia, Europe, South-East Asia, Latin America, Africa and the CIS. The company has set up a 60-bed clinical research organisation facility for conducting bioequivalence and bioavailability studies.

For the first half ended September 2015, Alkem’s consolidated net sales increased by 36 per cent to Rs.2,570 crore from Rs.1,889 crore in the corresponding period of last year. Its net proved jumped by 152 per cent to Rs.431 crore from Rs.171 crore.

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