The Hyderabad based drug major - NATCO Pharma Limited (NSE : NATCOPHARM, BSE : 524816) - had announced its working results (audited) for the year ended on 31st March, 2008 today.

The consolidated revenues grew to Rs 364 Crores ( 2007 - Rs. 280 Crores) registering an increase of 30% over the last year. The profit after tax, also grew to Rs. 40.58 Crores, ( 2007 - Rs. 30 Crores) registering an increase of 33% over the last year.

Highlights :

The company's growth was spurred mainly from the domestic oncology business, which, in terms of revenues grew by over 41%.

The company's active pharmaceutical ingredients also grew by over 12% compared to last year, in terms of revenues, in spite of the strengthening of the Indian rupee vis-a-vis the US dollar.

The company's US retail business grew in size as well as number. With the acquisition of a third retail pharma store. the company could clock turnovers of the order of Rs 150 Crores during the year ended on 31st March, 2008. In a full year of operation, these revenues are expected to be in the range of around Rs. 150 Crores. The company is eyeing at more acquisitions in the retail pharma space in the US.

During the year, the company successfully completed US FDA inspection of the bulk chemicals unit. The renewal of the FDA approval for the finished dosage pharmaceutical formulations unit is now due.

Outlook:

The Company is planning to file ten Abbreviated New Drug Applications (ANDAs) this financial year.

The Company is enthusiastic about its tie-up with Mylan. Inc for the world-wide supply of the generic version of Copaxone-R (Glatirmer Acetate) and is looking at para IV opportunities available with similar alliances in respect of other products.

The company's lead molecule for Gleevec resistant chronic myeloid leukemia - NRC 19 - is expected to go for Phase I clinical studies very soon. The Company has filed an application for commencing the clinical studies with the Drug Controller General of India. The company has also initiated steps to file an Investigative Drug Application with Canadian health authorities as well. The company opines that a strong indication of the prospects of the compound would be available by the end of the year.

For Natco Pharma Limited
Bhaskara Narayana. P.
Director & Chief Financial Officer