LAURUS LABS, once a leading manufacturer of antiretroviral (ARV) drugs, is undergoing yet another transformation under Satyanarayana Chava, its Founder & CEO. Until 2011, ARVS-a group of medication used to manage and treat human immunodeficiency virus (HIV) infection-accounted for a substantial portion of the company's revenue. Then it made a strategic shift towards becoming an active pharmaceutical ingredient (API)-focussed company.
Subsequently, the company forayed into the formulations business in 2014, which helped it become an integrated pharma company by 2020. As a result of that shift, the ARV API contributes only 25% of revenues now, while the contract development and manufacturing organisation (CDMO) segment has seen significant growth.
The success of these shifts is evident in the numbers. Over the past five years, Laurus Labs, which was founded in 2005, has seen a significant growth in revenues, rising from ₹2,292 crore in FY19 to ₹6,041 crore in FY23, an increase of 164% over the period. However, there has been a slight dip in revenues in the first nine months of FY24, settling at ₹3,601 crore.
Further, Laurus Labs's biotechnology business represents a strategic diversification into a high-growth sector with significant potential for development. The biotech business is relatively new, launched in 2021 through the acquisition of Richcore Life Sciences, a pioneer in microbial fermentation technology.
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
"Do what's best for employees"
BEST ADVICE - PANKAJ JATHAR | CEO | NIIT LTD
Your Palate for 2025
What's in store for you in the New Year when you go out for a meal or a drink? We ask industry experts to predict F&B trends for 2025
"RBI'S STANCE SHOULD BE TO KEEP THE RUPEE MORE VOLATILE"
Axis Bank Chief Economist Neelkanth Mishra talks about the rupee, quantitative easing, the Trump impact, and more
"We should strive towards two non-zero GST rates"
Arvind Panagariya, Chairman of the 16th Finance Commission, on further reforms in the economy, the Nehruvian era and its impact on policymaking, cash transfers, and more
A GENERATION MAROONED
This generation is creating new grammar for social and professional existence. They are reimagining the very concept of work, identity, and social belonging
A TIME OF UNCERTAINTY AND OPPORTUNITY
A look at the key trends that will redefine how content will be created, distributed, and consumed
Consciousness Shaping Consumption
India has a dynamic and discerning consumer base, whose consumption pattern is experiencing a significant transformation
THE NIFTY ELEPHANTS
The composition of the Nifty 50 index has undergone notable changes in the past 30 years, with only 11 companies consistently remaining in the index. It is expected to undergo further changes in 2025 with the entry of new-age companies like Zomato
REDEFINING THE DIGITAL AGE
For Bitcoin, its future lies not as a currency but as a cornerstone of the modern financial ecosystem
THE FUTURE OF HEALTHCARE
As AI advances, so will its role in health insurance. In the future, it shall perform a variety of complex tasks, making it more accessible and aligned with individual needs
