PLI scheme. Aurobindo Pharma to make pilot batches in Pen G project by November
The PLI scheme in pharma is likely to translate into production this year as Aurobindo Pharma is expecting to commence manufacturing of pilot batches in its Pen G project by November-December this year.
“The size of the Pen G project we are working on is around $250 million plus or minus 5 per cent contingency. So far, we have spent around $89 million,” Santhanam Subramanian, Chief Financial Officer, Aurobindo Pharma said.
The Hyderabad-based company has set the D-date for the Pen G project as April 2024. “While the D-date is 1st April 2024, it is always our endeavour to advance it, that’s what we are working on,” he said.
As of date, the installation is expected to be over by September-October of this year, and the drug-makers will be doing the pilot batches between November-December.
“The government being the major sponsor for the project by way of the PLI Incentive Scheme, they are also looking at it,” Subramanian added.
The company is expecting to commercialise over 50 ANDAs for which it already received approvals from the US Food and Drug Regulator (USFDA), according to Swami Iyer, CEO, Aurobindo Pharma, USA.
“In terms of topline, I would say conservatively we would expect about $50 million, on an annual basis maybe little higher, but that’s what we’d expect,” he said.
On the pricing price in the US, Iyer said there was some kind of stability now.
“There’ll always be some price changes, there’ll be some downs and there’ll will be ups. In the past few quarters, it has been mostly down. So, now we see fairly stable prices,” he said in the Q3 earnings call.