LAURUS LABS, once a leading manufacturer of antiretroviral (ARV) drugs, is undergoing yet another transformation under Satyanarayana Chava, its Founder & CEO. Until 2011, ARVS-a group of medication used to manage and treat human immunodeficiency virus (HIV) infection-accounted for a substantial portion of the company's revenue. Then it made a strategic shift towards becoming an active pharmaceutical ingredient (API)-focussed company.
Subsequently, the company forayed into the formulations business in 2014, which helped it become an integrated pharma company by 2020. As a result of that shift, the ARV API contributes only 25% of revenues now, while the contract development and manufacturing organisation (CDMO) segment has seen significant growth.
The success of these shifts is evident in the numbers. Over the past five years, Laurus Labs, which was founded in 2005, has seen a significant growth in revenues, rising from ₹2,292 crore in FY19 to ₹6,041 crore in FY23, an increase of 164% over the period. However, there has been a slight dip in revenues in the first nine months of FY24, settling at ₹3,601 crore.
Further, Laurus Labs's biotechnology business represents a strategic diversification into a high-growth sector with significant potential for development. The biotech business is relatively new, launched in 2021 through the acquisition of Richcore Life Sciences, a pioneer in microbial fermentation technology.
This story is from the March 17, 2024 edition of Business Today India.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the March 17, 2024 edition of Business Today India.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
"Moving to cloud helped us grow❞
What was the problem you were grappling with?
She's Got Time
MORE WOMEN ARE BECOMING WATCH CONNOISSEURS, SEEKING OUT BOTH JEWELLED AND TECHNICAL WATCHES FOR THEIR STYLE AND CRAFTSMANSHIP
RISING STAR
PARUL GULATI IS a name that's been steadily gaining prominence in the Indian entertainment industry after she appeared on season 2 of Shark Tank in 2023. She has become a multifaceted personality who effortlessly transitions between acting and entrepreneurship.
Building on a Legacy
WHEN ZAHABIYA KHORAKIWALA stepped into her role as Managing Director of Wockhardt Hospitals over a decade ago, she confronted formidable challenges that have since turned into achievements.
LEADER IN INNOVATION
AS FEDEX'S PRESIDENT (Middle East, Indian subcontinent and Africa), Kami Viswanathan has a lot on her plate.
WAITING IN THE WINGS
Here are those who missed out as they have not yet completed a year in office; they'll be strong contenders in 2025
A DECENT PROPOSAL
IN TODAY'S WORLD OF TRYING TO CREATE AN EQUITABLE SPACE, BOTH MEN AND WOMEN CONTRIBUTE TO THEIR HOUSEHOLDS. WOMEN ARE ENCOURAGED TO HAVE THEIR OWN SAVINGS POOL AND INVESTMENT ROUTINE. GIVEN THIS, HOW SHOULD FUTURE BRIDES APPROACH FINANCIAL PLANNING?
Women and the STEM Bias
EMPOWERING WOMEN IN STEM WILL NOT ONLY BENEFIT INDIVIDUALS, BUT ALSO STRENGTHEN THE ENTIRE INDUSTRY, DRIVING INNOVATION AND PROGRESS.
ROCKET WOMEN
WOMEN IN INDIA ARE NOT ONLY VENTURING INTO SPACE BUT ARE ALSO STARTING TO SPEARHEAD THE COUNTRY'S EFFORTS IN THE GLOBAL SPACE RACE.
ONE STEP FORWARD
THE NUMBER OF WOMEN INDEPENDENT DIRECTORS IS GROWING STEADILY, BUT IT'S A LONG WAY FROM GENDER PARITY. MUCH MORE NEEDS TO BE DONE TO BREAK THE GLASS CEILING IN BOARDROOMS.
