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January 30, 2019 01:43 PM | Business

Strides Pharma targeting $400-500 million US business in next 2-3 years

Drug firm, Strides Pharma Science, on Wednesday said it's targeting $400-500 million US business in the next 2-3 years as in one year, the company is expected to get approvals for 15 products in America.

In an interview to CNBC-TV18, Arun Kumar, group chief executive officer and managing director, said the company in US is already tracking $200 million business and Strides Pharma is developing other markets in Europe, UK and South Africa.

Going forward, Kumar said the primary focus of Strides Pharma is to build businesses that are sustainable and shareholder value creation.

Strides Pharma reported a consolidated net profit of Rs 296.43 crore for the quarter ended on December 31, 2018. The company had posted a net profit of Rs 88.11 crore for the corresponding period of the previous fiscal.

Consolidated revenue from operations of the company stood at Rs 794.50 crore for the quarter under consideration against Rs 748.79 crore for the same period a year ago. While the profit from the continuing operations was Rs 24.61 crore for the third quarter this fiscal, it was Rs 47.34 crore for the same period year ago.
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