Alkem Laboratories Ltd - 539523 - Announcement under Regulation 30 (LODR)-Press Release / Media Release
This is to inform you that US FDA had conducted an inspection at the Company's Bioequivalence Center located at Taloja, Maharashtra from 14th October, 2019 to 18th October, 2019. At the end of the inspection, no Form 483 was issued. Kindly take note of the same. Alkem Laboratories Ltd - 539523 - Board Meeting Intimation for Notice Of Meeting Of Board Of Directors Of Alkem Laboratories Limited.
Alkem Laboratories Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 11/11/2019 ,inter alia, to consider and approve the Standalone and Consolidated Unaudited Financial Results of the Company for the quarter and half year ended 30th September, 2019. Kindly take note of the same. Alkem Laboratories Ltd - 539523 - Shareholding for the Period Ended September 30, 2019
Alkem Laboratories Ltd has submitted to BSE the Shareholding Pattern for the Period Ended September 30, 2019. For more details, kindly Click here Alkem Laboratories Ltd - 539523 - Certificate Under Regulation 40(10) Of SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015 For The Half Year Ended 30Th September, 2019.
In terms of Regulation 40(9) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed herewith Certificate received from Practising Company Secretary for the half year ended 30th September, 2019. Kindly take the same on record. Alkem Laboratories Ltd - 539523 - Statement Of Investor Complaints For The Quarter Ended September 2019
No.of Investor complaints pending at the beginning of the quarter No.of Investor complaints received during the quarter No.of Investor complaints disposed of during the quarter No.of Investor complaints unresolved at the end of the quarter 0000 Name of the Signatory :- Manish NarangDesignation :- Company Secretary and Compliance Officer Alkem Laboratories Ltd - 539523 - Compliances- Compliance Certificate For The Period Ended September 30, 2019.
With reference to the subject matter, please find enclosed herewith the Compliance Certificate under Regulation 7(3) SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, duly signed by the Compliance officer and the authorised representative of Link Intime India Pvt Ltd (RTA) for the half year ended 30th September, 2019. Kindly take the same on your records. Alkem Laboratories Ltd - 539523 - Closure of Trading Window
This is to inform you that in terms of Company's Code of Conduct for Regulating, Monitoring and Reporting of Trading by Insiders, the trading window will remain closed from 28th September, 2019 until the expiry of 48 hours after the date on which the Financial Results of the Company for the quarter and half year ended 30th September, 2019 are communicated to the Stock Exchanges. Alkem Laboratories Ltd - 539523 - Announcement under Regulation 30 (LODR)-Acquisition
This is to intimate you that Alkem Laboratories Limited (the 'Company') has acquired an undertaking ('Undertaking'), as a whole and on a going and running concern basis from Cachet Pharmaceuticals Private Limited, a subsidiary of the Company. A copy of the necessary disclosures/ information required to be submitted pursuant to Regulation 30 of SEBI Listing Regulations is attached herewith. Kindly take note of the same.
Alkem delivered high earnings per share, and management promises outperformance
by Suhani Adilabadkar Mumbai-headquartered Alkem Laboratories manufactures and sells pharmaceutical generics, formulations and nutraceuticals in India. It manufactures a range of well known brands including Taxim, Clavam, Pan D, Onem and A To Z, and is the domestic market leader of anti-infectives. Quick Takes: Alkem Laboratories (which is in 14 stock screeners including high EPS growth) has built a reputation as the best anti-infective company in India over the last 15 years Q2FY20 reported Revenue and PAT growing at 11.5% and 36% YoY respectively Alkem has incurred about 1.9 bn capex over the last three years and is looking forward to a target of planned out Rs.400-450 cr for FY20 Baddi plant in Himachal Pradesh and St. Louis (US) received a clean chit by USFDA during the inspection. All the facilities of Alkem have received a clearance during the inspection except for the Daman facility that received a Form 483 with two observations in August 2019. The management aims to achieve EBDITA margin of 18% by FY21, and commits to industry outperformance of 200 bps. Alkem made its stock market debut in 2015, with its issue getting oversubscribed by 44 times raising Rs.1350 cr. The stock has lost 10% YoY, but is on relatively better footing compared to Pharma biggies like Cipla, Sun Pharma, Lupin, Aurobindo Pharma, and Biocon which have lost share price in the range of 20-60% over the past one year. After a lacklustre performance in FY18, Alkem is back in the good books of analysts and under investor radar as favoured long-term pick. Profile Alkem is the 5th largest company in its space in terms of market share. Alkem boasts a comprehensive portfolio of over 800 brands, 21 manufacturing facilities (six USFDA approved), 5 R&D; centres in India and the US, and a growing presence in more than 50 international markets, including key overseas markets in the US, Australia, Chile, Philippines, Middle East and East Africa. A steady June quarter Alkem Laboratories has been growing steadily in the June quarter of FY20 with Revenue and Profit After Tax (PAT) growing at 11.5% and 36% YoY respectively. Revenue stood at Rs.1850 cr compared to Rs.1659 cr last year. Domestic sales growth was 12% YoY at Rs.1222 cr whereas international business grew 8% YoY reported at Rs.591 cr in June quarter FY20. PAT or Net Profit was reported at Rs.187 cr against Rs.137 cr corresponding to the previous year’s quarter, rising 36% YoY and 10% sequentially supported by strong cost optimization efforts and lower effective tax rate during the quarter. EBDITA witnessed a 30% growth YoY at Rs.265 cr against Rs.204 cr last year with margin of 14.3%, expanding 200 bps YoY. R&D; expenditure was around 5.6% of Revenue while the company filed 2 ANDAs and received 5 ANDA approvals (including 2 tentative) from the USFDA in Q1FY20. Management commits to consistent outperformance After falling to its 52-week low in June 2019, Alkem seems to be gearing up with its stock price gaining 10% since the announcement of its Q2 results. Analysts are bullish about Alkem since it’s also on the buy list of prominent AMCs. Due to the balance maintained in FY19 amidst the FDC ban, weak anti-infective season and increase in the holding of FIIs and DIIS by 200 bps, analysts and mutual fund houses have favoured the stock. The company’s India business has reported a CAGR of 16% over the past four years. It also contributes nearly 67% of total revenues with US sales constituting roughly one-fourth of the entire revenue basket, giving a strong stable revenue mix compared to pharma competitors like Sun Pharma, Lupin, Dr Reddy’s and Auro Pharma. Alkem is significantly ahead of industry growth in well-established therapeutic areas such as Anti-infectives, with a growth of 22% YoY against industry’s 10%; Gastro-intestinal growth at 18% v/s 9% and Vitamins & Minerals category at 24% YoY against 12% for the rest of the industry. Apart from these acute therapies, the company is also gaining a foothold in chronic segments like Anti-diabetic, Cardiac and Nero growing reasonably at 36%, 27% and 14% YoY against pharma industry’s growth of 12%, 11% and 9% respectively in Q2FY20. The Managing Director of Alkem Laboratories, Mr. Sandeep Singh said, “We always maintain that we will outperform the industry by, let us say, 200 basis points. So, I think that will continue, and there is no reason for us to change that guidance”. Talking about specific products, Taxim rules the market with nearly 77% share in Anti Infective (AI) category. Pan and Ondem in Gastrointestinal segment occupies nearly 30% of market share each while Clavam and Pipzo comprise market share of 16% and 18% respectively in FY19 and Tiger Balm with 50% domination in the OTC analgesic market. With a footprint in the domestic market, Alkem is also deepening its position in the US business with a CAGR of 28% since four years. The US market has been on the positive side with a growth of 14% YoY for Q2 ahead of domestic growth. In this respect Mr. Singh added, “The growth in the U.S. business was mainly on the back of new product launches and scale up in the existing products”. Compared to its competition, Alkem entered the US market late in 2010 by acquiring ThePharmanetwork, the holding company of Ascend. It reached its break-even point in FY16 and since then saw success with strong product launches such as Mycophenolate (immunosuppressant drug) which has a 15% market share and g-Suprax (bacterial infections), g-Ampyra (multiple sclerosis) with opportunistic market size of $20 Mn and $40 Mn respectively. Most recently, Valsartan (hypertension) has been launched in March FY19, which started contributing from Q2FY20. Alkem has a strong ANDA pipeline of 127 ANDAs as on 31st March, 2019 already filed with the USFDA, with over half of them yet to be commercialised providing strong impetus for US Business. Mr. Sandeep Singh clarified on Biosimilars, “I think next year, around, Q2, we would be launching one or two products in India. So, first, we want to launch products in India and then take to emerging markets. So, as you know, biotech is a long-term plan”. The management aims to achieve EBDITA margin of 18% by FY21. With all these growth levers in place, Alkem is definitely ready to scale the next frontier of growth. Alkem Laboratories Ltd - 539523 - Announcement under Regulation 30 (LODR)-Press Release / Media Release
In furtherance to the intimation captioned "US FDA Inspection at Alkem's manufacturing facility located at St. Louis, USA" dated 23rd August, 2019, this is to inform you that US FDA has issued an Establishment Inspection Report (EIR) for the Company's manufacturing facility located at St. Louis, Fenton Logistics Park , USA which was inspected from 16th August, 2019 to 22nd August, 2019 and where the Company received a Form 483 issued by the US FDA containing four observations. The inspection has now been closed by the US FDA. Kindly take the same on record.