Ajanta Pharma Limited is a multinational company based in India engaged in development, manufacturing, and marketing of pharmaceutical formulations. It has a presence in India, the United States, and about 30 other countries in Africa, Asia, Middle East, and CIS. It was established in 1973.
Markets and business
Ajanta Pharma has over 1,400 products registered currently in various countries and an equal number of products are under approval. In India, the company is a branded generic company focused on a few high growth specialty therapies in ophthalmology, dermatology, cardiology, and pain management. Ajanta Pharma exports products to over 30 countries in Asia and Africa. In these markets, the company serves a wide range of therapeutic products in the areas of antimalarial, cardiovascular, gastrointestinal, antibiotic, dermatology, antihistamine, multivitamin, gynecology, and pain management. Ajanta Pharma has recently stepped up its presence in the United States with a select product portfolio, which includes niche and complex technology products. Currently, the company has 27 products in the US market.
History
In the early 2000s, Ajanta was noted as a major source of foreign currency, alongside Reddy Labs, arising from sales in Southeast Asia. In particular, in 2003, a joint-venture between Ajanta and the Ministry of Health in Turkministan accounted for fully half of the pharmaceutical needs of the country. The company had made several other joint-ventures with regional governments, such as Uzbekistan, Kazakhstan, Kyrygyzstan and Tajikistan, which it severed in the 2010s due to their being unprofitable. The company experienced an enormous loss in 2005 in terms of diminution of the value of investments, amounting to four-times the year's profits. That same year, the company was noted as having the highest sales in India for any Indian pharmaceutical company, with sales of ₹13.56 billion. In 2015, the company was highlighted as having had exceptional stock appreciation over the preceding four years, and the listing of the stock on the BSE 500 was noted. By 2019, the stock was listed on the S&P BSE 200 index.
Manufacturing facilities
Ajanta Pharma operates seven manufacturing facilities; six within India and one in Mauritius. In India, five facilities manufacture finished formulations, including Dahej and Paithan plants which is approved by the US FDA and Guwahati plant which caters to domestic and emerging markets. Another plant manufactures active pharmaceutical ingredients primarily for captive consumption.
