We are grateful for the roots our founder, Desh Bandhu Gupta (DBG) gave us, while ensuring that we grew the wings to fly high. DBG’s vision and nurturing built a company that operates at scale and a foundation that serves millions.
As we evolve with the changing business landscape, DBG taught us to challenge the status quo and overcome obstacles with creativity and zest, while holding on to our roots.
It is an honor to take DBG’s great legacy forward.
We relentlessly pursue excellence through innovation and continuous improvement in all our projects, processes and products.
To set our standards, we benchmark with the best in the world.
We conduct ourselves with uncompromising integrity and honesty with the highest standards of ethical behaviour and transparency.
Everything we do must stand public scrutiny.
We empower our employees to generate new ideas, explore avenues and offer solutions that add exceptional value.
We encourage them to build ownership in all endeavours by assuming responsibilty with passion and conviction.
We align our efforts and energies of our people across all levels and geographies to deliver outstanding results to our stakeholders.
We encourage diverse opinions and yet work together in a coordinated and mutually supportive way.
We strive to understand and meet customer needs in a professional and responsive manner.
We focus on building long term partnership for mutual benefit.
We are compassionate and sensitive towards all our stakeholders and treat them the way we would expect to be treated.
We provide equal and fair opportunity for employment, learning and career development.
With continued pricing and competitive pressure on oral solids, we believe that it is critical to expand our basket of firstto- market opportunities and increase our offerings on complex dosage forms like injectables, inhalation and biosimilars. We have products under development targeting USD 70 Bn+ of market with 85% of this coming from such complex categories.
Inhalation: We are one of the few companies in the world to have successfully developed a Dry Powder Inhaler as well as a Metered Dose Inhaler, generic for the U.S. We have to date filed four major inhalation products in the U.S. and have several others under development. Increasingly, we see this as a global opportunity taking these and other inhalation products to meaningful markets like the EU and the U.K.
Injectables: We have seven complex injectables under development of which one has been filed and another one is in late clinical phase. We intend to accelerate our pace of filing, approval and launch of injectable products.
Biosimilars: We see biosimilars having a long runway with new launches and incremental penetration in key geographies like the U.S. and the EU. We have biosimilar Etanercept in Japan and Europe markets and see room for growth. We have filed biosimilar Pegfilgrastim in the U.S. and await approval. This is a key focus area and we have several biosimilar products in development.
We intend to extend our leadership in our key markets, India and the U.S., by expanding our range of product offerings.
In India, we aim to grow substantially ahead of the market via organic and in-organic means, in existing therapeutic areas and select new therapeutic areas. We continue to position ourselves as the partner of choice for innovative pharmaceutical companies. We remain focused on chronic therapies (64.7% of our domestic branded formulation revenues). Our three main chronic therapeutic areas are Cardiovascular, Diabetes and Respiratory, and we see substantial room for growth here. Further, we are expanding our offering in the Gynecology, Dermatology, Urology and Pediatric segments in India. In the U.S., while we continue to be the third largest generic company and a significant supplier of oral solid dosage forms, increasingly our focus is on first-to-market launches and shifting from oral solid dosage forms to complex generics and biosimilars.
For our established and stable businesses in key markets like Australia, Brazil, Canada, Mexico, Philippines and South Africa, our goal is to continue higher than industry growth and enhance profitability through market share gains, new launches and cost optimization.
We aim to improve the efficiency and productivity of our R&D and manufacturing network by focusing on optimizing resources and spend as well as creating more operating leverage. We have been and continue to optimize on capital expenditure and R&D spends whilst at the same time leveraging our portfolio across markets with similar regulatory regimes to gain further efficiencies. In manufacturing, we have invested ahead of the curve in anticipation of increased demand and there is scope to optimize the manufacturing footprint and reduce costs, including idle time costs.
We continue to work on important initiatives to drive procurement efficiencies, develop alternate/new routes of synthesis and other process improvements. Overall, we continue to work on our cost base with emphasis on operating leverage across manpower productivity, sales force excellence, and creation of Centres of Excellence for support services. We have embarked on several digital initiatives across the entire value chain and believe that this approach would yield rich dividends in the years to come.
Our facilities across the globe observe Good Manufacturing Practice standards and have accreditations from leading global regulatory authorities such as US FDA, U.K. MHRA, WHO and Japanese PMDA. We have a stated goal of being world-class in Quality and Compliance. We continue our efforts to further enhance our standards. While over 90% of our revenues come from sites that are in a satisfactory state of compliance, our Goa facility received satisfactory compliance status from the US FDA in FY22. We intend to carry this positive momentum to bring our other impacted sites into compliance.