Shilpa Medicare Limited has informed the Exchange about Investor Presentation
I Innovating for
affordable healthcare
Shilpa Medicare Limited
Corporate & Admin Office:
"Shilpa House", # 12-6-214/A-1, Hyderabad Road,
Raichur-584 135, Karnataka, India
Tel: +91-8532-238704, Fax: +91-8532-238876
Email: info@vbshilpa.com, Web: www.vbshilpa.com
CIN: L85110KA1987PLC008739
Dated 31.05.2021
To
To
Corporate Relationship Department
National Stock Exchange of India Limited
BSE Limited, 1st Floor, Rotunda Building,
P.J. Towers, Dalal Street, Mumbai - 400 001.
Exchange Plaza, 5th Floor, Plot No.C/l, G Block
Bandra Kurla Complex, Bandra (E)
Mumbai - 400 051.
Dear Sir,
Sub: Presentation made to analysts and investors.
Ref: Regulation 30 of the SEBI
(Listing Obligations & Disclosure Requirements)
Regulations, 2015;
Scrip Code: BSE- 5305491 Stock Symbol: NSE - SHILP AMED
Pursuant to the Securities and Exchange Board of India (Listing Obligations and Disclosure
Requirements) Regulations, 2015 as amended from time to time, please find herewith
enclosed copy of 04
th
analysts and Investors.
Quarter and Financial Year 2020-21 Results presentation made to
This is for your information and Records.
Shilpa Medicare Limited (SML) Q4 & FY21 Results Presentation
1
Disclaimer
Certain statements in this document may be forward-looking statements. Such forward looking statements are subject to certain risks and uncertainties like regulatory changes, local political or economic developments, and many other factors that could cause our actual results to differ materially from forward-looking the those statements. Shilpa Medicare Limited (SML) will not be in any way responsible for any action taken based on such statements and undertakes no obligation to publicly update these forward-looking statements to reflect subsequent events or circumstances.
contemplated
relevant
by
2
Corporate Office - Raichur
Table of Contents
3
Company Overview...........................................04
Financial Performance........................................16
Discussion of Select Business Segments................... 23
Business Update…………………………………...33
Way Forward...................................................38
Company Overview
4
Company Overview
5
Established presence in Active Pharmaceutical Ingredients (APIs) and Formulations for domestic & international markets
Pursuing niche growth businesses like Transdermal, Oral Dissolving Films and Dermatological Formulations
Affordable & Effective Pharmaceutical Solutions
Robust research orientation resulting in innovative products
Very strong R&D background including development, pathway engineering and characterization of biologics
Best in class manufacturing and supply of high-quality affordable drugs
Established Business
6
API
Formulation
Manufacturing API products with high precision Isolator Technology & operated with zero discharge Portfolio contains technically challenging Oncology and non-Oncology products
Portfolio includes liquid and lyophilized injectable, sterile dry powder injections and oral solids
Global reach in the US, EU and the Rest of the World markets
Diversification into Peptide & Polymer products and CDMO
Vertically integrated, with in-house R&D for innovative and cost-effective products
Facility is approved by USFDA, WHO-GMP, EUGMP, TGA, PMDA, KFDA, TPD & Russia
Certification from ISO & OSHAS
Growth Business
7
Biologicals & Biosimilars
Novel Biologic
Company is pursuing a dedicated IP strategy for Biosimilar and NBE assets
Molecule pipeline is patent protected globally
6 of the top 15 Biological products are in the pipeline
Strengths in the development of continuous bioprocessing that could disrupt current market prices
Clinical trials for first 2 Biosimilars should start between June 21 and Sept 21
Clinical trials should start by Jun-Sept 21
Low risk with diverse applications catering to:
- Low regulatory barrier cell therapy media markets, initial customer trials are ongoing
- High regulatory barrier drug market with potential to replace current best-in-class
- Potential to create targeted chemotherapy drugs, with initial customer trials ongoing
Niche Opportunities
8
Dermatological
ODF & Transdermal
1 product is ready to be filed in the US market - Niche Generic
Portfolio includes liquid and lyophilized injectable, sterile dry powder injections and oral solids
Swatchshil launched in domestic market in Mar 21 - Additional batch manufacturing in progress
Global reach in the US, EU and the Rest of the World markets
Two new line extensions identified – one in BOV and other in wound healing
Vertically integrated, with in-house R&D for innovative and cost-effective products
2 new niche products are under development
- One in clinical phase - Other has completed the preclinical phase and requesting for clinical waiver with DCGI by June 21
9
R&D
SML’s Key Strengths
Manufacturing Excellence
Research & Development
10
o Pathway Engineering of cells – Novel cell lines with novel characteristics, high yield
o HT Biologics characterization – Potential to reduce the iterations/cost in the latter stages of development and clinic
o Multi-parallel Bioprocessing platforms with incorporation of continuous bioprocessing – Reduces the cost of
commercial product with high quality
o Novel Delivery technology platform – Marries novel patentable formulations with delivery devices
o Differentiated offering to customers in lifestyle disorders – Leading to better patient compliance and outcomes
o Novel biologics media manufacturing platform – Leads to complete backward integration – Potential to be the lowest
cost player in the biologics market with significant competitive moat
o Adenoviral therapy/vaccine based platforms – potential to reduce cost of therapies over long term
o R&D lab equipped with State-of-the-art machines and instruments required for pre-formulation and formulation
development of Transdermal System (TDS) / Matrix patches and Oral Disintegrating films (ODF) Healthy generic pipeline of projects including Para IV, First to file, 505B2 filing for Global market
Research & Development
11
o Analytical lab equipped with all sophisticated instruments for analytical development of transdermal patches and oral
films as per current US/EU Guidance
o R&D capability to conduct In-Vitro adhesion characterization like Peel, Tack, Shear and Release force; In-Vitro
Permeation Test & In-Vitro Release Test studies using Human Cadaver skins to mimic In-Vivo BE studies for PK and adhesion end points
o R&D competency to conduct In-house Extractable and Leachable studies with cGMP compliance
o R&D competency to characterize Pressure sensitive Polymers; Rheological behaviors of Non-Newtonion fluids,
quantitively Cold Flow etc.
o SML is delivering end to end Pharmacovigilance activities
Manufacturing Excellence
12
Facility Location
Facility Type
Dharwad
Bengaluru
Biologicals Manufacturing plant & R & D Facility
TDS & ODF Manufacturing Facility & R & D (All segments except Biologics)
Raichur Unit I
API (Oncology – Non-Oncology)
Raichur Unit II
API (Oncology – Non-Oncology) and R & D API
Jadcherla Unit
Formulations (Onco & Adjuvant Therapy of Onco – Injectable & Oral)
Hyderabad Unit
Formulations (Oral Dissolving Films)
Hyderabad
Ahmedabad
Bio Analytical & Pharmacovigilance R & D
R&D Formulation
India
i
a d n
I
Company’s Headquarters at Raichur, Karnataka, India
Manufacturing Facilities
2 API plants at Raichur, India
5 R&D units ( Bengaluru, Dharwad, Raichur, Hyderabad and Ahmedabad, India)
1 Manufacturing site for Biologicals at Dharwad, India
3 Formulation plants at Jadcherla, Hyderabad and Bengaluru, India
Established Business - Capacities
13
o 9 dedicated blocks for Oncology & 4 blocks for Non-Oncology
o Multi-product capability for Oncology & Non-Oncology
API
o Expansion of various API capacities
o Peptide and Polymer divisions added which lends further capacity
o CDMO introduced to existing business sector to expand capacities
o 2 self contained Oncology & Adjuvant Therapy Manufacturing
lines for Oral Solids products
Formulation
o 3 self Isolated Oncology & Adjuvant Therapy manufacturing lines
for Injectable products (Liquid & Lyophilized)
o New centralized QC laboratory and Bio-Analytical labs in
Hyderabad
Growth Business - Capacities
14
Biologicals & Biosimilars
o 2 independent lines - single use lines (1,000L Bioreactor each) for production of MABS, vaccines and other recombinant proteins from mammalian cells
o 1 single use line (200L bioreactor) for production of MABS and
other recombinant proteins from mammalian cells
o Robotic filling lines for PFS and Vials
o 3rd high speed European vial line that will be commissioned by
4th quarter of FY 22
o CDMO business to kick start from Sep 21
o 2 lines each of 1,000L fermentation capacity for production of the NBE to cater to clinical trial material and formulation grade material was commissioned in April 21
Novel Biologic
o CDMO opportunities in production of vaccines being pursued
and completed a deal in May 21
o Sputnik Vaccine will be manufacturing in license with Dr.
Reddy’s Laboratories
o 100 Million doses in a year
Niche Opportunities - Capacities
15
Dermatological
o R&D is carried out at Shilpa Medicare’s in-house R&D Facility
o Exhibit batches are taken at a Contract Manufacturing Organization
Oral Dissolving Films & Transdermal
o State-of-art mfg. facility to develop and manufacture novel tech-based
products at Bengaluru facility for global market
o Combo line for ODF/TDS has been commissioned and exhibit batches of ODF Products have been initiated - 4 products execution completed and few more products in pipeline
o Complete in-house characterisation of TDS and ODF formulations using validated methods and high-end analytical instrumentations
o 2 dedicated lines for ODF formulations at Hyderabad facility to cater
Domestic and ROW market
Financial Performance
16
Abridged P&L Statement - Standalone
17
(Rs. In Lakhs)
Particulars
Q4 FY21
Q4 FY20
Change (%)
FY21
FY20
Change (%)
Total Income (I+II) I. Total Revenue from Operations (A+B+C+D)
•API (A) •Formulations (B) •Service Revenue & Product License Fees (C) •Others (D) II. Other income Total Expenditure EBITDA EBITDA margin (%) to Total Income Exceptional ( Income )/Expenses Finance Costs Depreciation and Amortization Tax Expenses Effective Tax Rate (%)(continued operations) PAT Period/year from continuing operations incl. exceptional item (E) PAT Margins (%) Profit (loss ) from discontinued operations (net of tax) (F) PAT (E+F)(Continuing & discontinued operation) PAT Margins (%)
19,485 17,971 12,226 4,856 566 323 1,514 14,236 5,249 27 - 664 1,062 863 25 2,659 14 - 2,659 14
20,090 19,793 13,304 4,812 1,054 624 297 14,866 5,225 26 (454) 129 916 1,189 32 2,536 13 3,254 5,790 29
(3) (9) (8) 1 (46) (48) 410 (4) 0 4 - 415 16 (27) (23) 5 8 - (54) (53)
86,422 83,032 56,319 22,776 2,619 1,318 3,390 60,331 26,091 30 5,295 1,747 4,085 7,115 28 18,439 21 - 18,439 21
81,724 80,598 50,181 19,115 8,968 2,334 1,126 56,107 25,618 31 (454) 433 3,496 4,415 20 16,820 21 2,552 19,373 24
6 3 12 19 (71) (44) 201 8 2 (4) (1,266) 304 17 61 36 10 4 - (5) (10)
In relation to the import alert issued by the USFDA for Jadcherla Unit, the Company has initiated extensive remedial measures. The cost towards these measures amounted to Rs.529.44 Lakhs in Q4-FY21 and Rs. 862.51 Lakhs for FY21
Abridged P&L Statement - Consolidated
18
(Rs. In Lakhs)
Particulars
Q4 FY21
Q4 FY20
Change (%)
FY21
FY20
Change (%)
Total Income (I+II) I. Total Revenue from Operations (A+B+C+D)
•API (A) •Formulations (B) •Service Revenue & Product License Fees (C) •Others (D) II. Other income Total Expenditure EBITDA EBITDA margin (%) to Total Income Exceptional ( Income )/Expenses Finance Costs Depreciation and Amortization Tax Expenses Effective Tax Rate (%) PAT (incl. exceptional item) PAT Margins (%)
Share of Profit /(Loss) JV/ Associated & Non-Controlling Interest (net)
PAT (after Share of profit/(loss) of JV/Associate & non controlling interest
PAT Margins (%)
21,494 20,803 12,250 7,665 566 323 691 18,182 3,312 15 - 912 1,523 80 9% 797 4
(14)
783
4
22,890 21,999 15,240 5,546 1,054 159 891 17,439 5,450 24 - 101 1,155 755 18% 3,440 15
(6) (5) (20) 38 (46) 103 (22) 4 (39) (35) - 805 32 (89) (48) (77) (75)
93,127 90,113 60,862 25,315 2,619 1,318 3,014 71,948 21,180 23 (6,084) 2,187 5,398 4,885 25 14,794 16
92,485 90,791 55,441 19,429 13,587 2,334 1,694 68,811 23,674 26 - 456 4,378 3,349 18 15,491 17
1 (1) 10 30 (81) (44) 78 5 (11) (11) - 380 23 46 39 (4) (5)
17
(181)
(16)
124
(113)
3,457
15
(77)
(76)
14,778
15,615
16
17
(5)
(6)
Results Snapshot (Standalone)
19
REVENUE BREAKUP (IN LAKHS)
Q4FY21
Q4FY20
13,304
12,226
4,856
4,812
323
624
566
1,054
Key Highlights
• Despite challenging last 2 quarters, both API & Formulation businesses witnessed robust growth during the year
API
Formulation
Others
Service Income & Licence Fees
• Q4 performance across businesses
impacted due to:
12%
56,319
50,181
REVENUE BREAKUP (IN LAKHS)
FY2021
FY2020
19 %
22,776
19,115
1,318
2,334
2,619
8,968
•
API
Formulation
Others
Service Income & Licence Fees
• Formulation
• Capacity enhancement
in API both Oncology & Non-Oncology remediation measures have hampered the USA sales, but SML was able to sell in EU Market License income reduced due to USFDA Import Alert
Capital Investment & Debt Details - Standalone
20
Particulars
Capital Investments
Fixed Asset Gross Block
Tangible Assets (Project Under Progress)
Intangible Assets Under Development
(Rs. In Lakhs)
As on 31.03.2021
As on 31.03.2020
89,699
29,719
18,516
73,392
24,418
12,863
Total Capital Investment
137,934
110,673
Debt
Long term
Short term
Less: Cash & Cash Equivalents
Total Debt
41,152
24,190
(11,501)
53,841
22,385
15,640
(2,794)
35,231
Historical Revenue Statement – Standalone
21
14 % CAGR
45,614
38,821
34,817
TOTAL REVENUE –14% CAGR IN LAST 3 YEARS
2019
2020
2021
(Rs. In Lakhs)
17 % CAGR
22,776
19,115
16,596
-7 % CAGR
8,968
3,027
2,619
2,553
2,334
1,318
1,553
1,126
3,390
API (excluding CRAMS Revenue)
Formulations
Service & License Income
Others
Other Income
Strong trends in underlying performance ex of CRAMS over the past few years
Historical R&D Expenditure Trends
22
(Rs. In Lakhs)
Particulars
FY18
FY19
FY20
FY21
Total R&D Expenditure
7,813
8,751
12,883
13,675
R&D Revenue Expenditure
5,386
4,004
6,948
6,836
R&D Intangible Assets(incl. CWIP)
2,427
4,747
5,935
6,839
R&D as a % of Revenue
10%
13%
16%
16%
Strong orientation on R&D to sustain growth performance
Discussion of Select Business Segments
23
New Launches in India’s Pharmaceutical Market
24
New Launches in India’s Pharmaceutical Market
25
New Launches in India’s Pharmaceutical Market
26
Highlighting the advantages of Shilpa’s Green Tea over traditional green tea through communication
Publishing engaging content on social media
Focusing on creating more brand awareness and reaching out to new consumers
Increasing the follower base on social media platforms
Live sessions with renowned dieticians
New Launches in India’s Pharmaceutical Market
27
Vitamin Supplementations
B12 Film – Methyl Cobalamin 1500 mcg
Cholcal – Vitamin D3 2000 IU
PDE Inhibitor
TFL – Tadalafil 5mg, 10mg, 20mg
New Launches in India’s Pharmaceutical Market
28
Ondansetron
Vomistrip – 2mg, 4mg, 8mg
Simethicone 62.5mg
Gastrip
API Progress in FY 2021
New Products Introduced
29
Business Segment
Name of the Product
Therapeutic Area
Geography
Total Market Size
Nilotinib *
Pazopinib HCL *
Oncology
Oncology
API
Phenylephrine HCL
Non-Oncology
Citicholine Sodium
Non-Oncology
Global
Global
Global
Global
$ 1.64 Billion
$ 568 Million
$ 1.72 Billion (Single and in combination with other Drugs
$ 448 Million (Single and in combination with other Drugs
*Patented Products: Shilpa shall supply APIs for research and/or regulatory submissions as per individual Country Laws during the valid term of Patent in specific Country
o
o
o o
o o
Added two new US based innovators to CDMO-API business for late phase clinical development
Expanded to 1 dedicated blocks for Oncology and 2 blocks for Non-Oncology and created bay within the block to operate multiple products
Expansion of various API capacities
§ § Multi-product capability for Oncology & Non-Oncology
1 product is approved by WHO and another product approval is expected by June 21 Peptide Block commissioned
Tranexamic acid production block capacity expanded from 5.5 MT to 15 MT Dedicated Peptide and Polymer R&D nearing completion
Formulation Progress in FY 2021 Products launched
30
Shilpa’s Brand Name
Therapeutic Area
Geography
Total Market Size
Business Segment
Formulations
Name
Lenvatinib
Dastinib
Sunitinib
Axitinib Dimethyl Fumarate Simethicone
Ondansetron
Tadalafil
Methyl Cobalamin
Cholecalciferol
Lenshil
Dasashil
Sunishil
Axishil Dmfshil Gastrip
Vomistrip
TFL
B 12 Film
Cholcal
Anti Bacterial , Anti fungal Green Tea
SwatchShil Green Tea Film
Note: Total Market Size data is extracted from IQVIA MAT Q4 2020
o
o o o o
Lenvatinib: Lenshil was the first generic brand of Lenvatinib in India
Anti Bacterial , Anti fungal : Swatchshil is first of its kind for intimate cleansing spray for women Green Tea : First of its kind a Green Tea film in a form of Oral disintegrating film Commercial supplies of Azacitidine Inj to 2 customers in Europe Additional variants of Green T Film launched in Indian market
Oncology
Oncology
Oncology
Oncology Oncology Anti-Flatulence
Anti-Emetic
PDE Inhibitor
Vitamin Supplementation
Vitamin Supplementation
Intimate Hygiene for women Antioxidant/wt loss.
India
India
India
India India India
India
India
India
India
India India
$ 777 K
$ 1.8 Million
$ 1.3 Million
- $ 696 K -
$ 41 Million
$ 16 Million
$ 18.2 Million
$ 87.9 Million
- -
Investing in future Growth Businesses
31
Recently tied up with Dr. Reddy's Laboratories for the production of Sputnik V vaccine
o Shilpa Biologicals Pvt Ltd, (SBPL) the wholly owned subsidiary of Shilpa Medicare Ltd. has entered in a 3-year definitive agreement with Dr.
Reddy's Laboratories for the production-supply of Sputnik V vaccine from its integrated Biologics R&D cum manufacturing center at Dharwad,
Karnataka
o As per the terms of the agreement, SBPL will be responsible for the manufacture of the vaccine while DRL will be responsible for its
distribution
o The targeted production of the dual vector Sputnik V for the first 12 months is 50 million doses (50 million of dose 1 and 50 million of dose 2),
from the start date of commercial production
o View Biologics as a strategic growth area and made significant investments in setting up a high end, flexible Biologics facility in Dharwad to
cater to the requirements of the fast-growing biologics field, that include, the Adenoviral, Subunit & DNA vaccines, Monoclonal antibodies &
fusion proteins
Managing Director’s Message
32
Commenting on Q4 & FY’21 performance, Mr. Vishnukant Bhutada, Managing Director Shilpa Medicare Limited said
“I am pleased to share with you that we have been able to maintain our revenues during the year despite facing a volatile
macro environment and other regulatory challenges. We continue to focus on improving the core API and enhance our
Formulations business as we look for newer opportunities in untapped markets. Over the past few years, we have
judiciously invested in top quality human capital. The teams we have deployed in our international markets have helped
us grow our presence and we hope to capitalize there. Furthermore, we are building a strong product pipeline which will
translate to healthy growth in the years ahead.
Our focus on the diversification in newer areas like Biologics, portfolio expansion in Transdermal Dosage Forms and Oral
Thin Films formulations, CDMO business will gain traction in FY22 and we believe that investing in these areas will benefit
the Company in the years to come.
Very recently we tied up for production of Sputnik V, at our Biologics facility, Dharwad, further augmenting the availability
of life-savings vaccines in the country.”
Business Update
33
Current Status on USFDA Warning Letter
34
o SML’s Jadcherla Unit received the Import Alert in Feb 2021
o After the Warning Letter in October 2020, the Company has undertaken a systematic and wholesome remediation
plan with the help of a Third-Party Consultant to address the concerns of the Agency
o The Company remains committed to work towards resolving all the concerns cited by the Agency. Company plans to
seek a meeting with USFDA in the near future
o Continuing to supply 3 products to the US market in accordance with conditions set forth in Import Alert.
Commercial supplies to Europe and other countries are being done regularly
o Company continues to file new ANDA/NDA applications and the review from Agency is ongoing
o Adding 3rd party manufacturing facilities of Oral & Injectable as a risk hedging strategy
Update on European Market:
o The unit has maintained uninterrupted supply of approved products to European markets
USFDA Exempted Formulation Sales - Largest Revenue Source
35
Year
Total Formulation Sales
Exempted Formulation Sales*
% of total Formulation Sales
* Includes all products permitted for sales in the US
FY21
21,308
18,608
87%
FY20
19,436
13,426
69%
(Rs. In Lakhs)
FY19
17,104
14,467
85%
Exempted Formulations Sales – Geographical Breakup
(Rs. in Lakhs)
Geography
US
Europe & Other
TOTAL
FY21
6,294
12,314
%
34
66
FY20
13,280
146
%
99
1
FY19
14,387
80
%
99
1
18,608
100
13,426
100
14,467
100
•
3 products have been exempted from the Import Alert - Azacitidine for Injection, Cyclophosphamide Capsules and Erlotinib Tablets, subject to certain conditions which are 3rd Party Certified
• Actively worked on hedging strategy, resulting in significant growth in other international markets
Patents Status as on March 31, 2021
36
Patents
Filings
Granted
Pending
-
-
-
-
API
Formulation *
Films Topical & Transdermal
Biologicals
-
Others
TOTAL
204
168
57
11
22
462
40
21
5
3
5
74
164
147
52
8
17
388
* Formulation numbers includes the Patents of FTF Pharma Pvt Ltd Ahmedabad, a wholly owned subsidiary of Shilpa Medicare Ltd
Formulation Product Pipeline as on March 31, 2021
37
Regulatory Submissions
Filings
Approved
(Including Tentative)
Pending
- US ANDA: SML
- US NDA: SML
- US ANDA: Customers
TOTAL (In US)
- EU Filing
- Row Filling
TOTAL (In EU & ROW)
GRAND TOTAL
23
2
18
43
21
209
230
273
13
0
12
25
16
52
68
93
10
2
6
18
5
147
152
170
3 7
Way Forward
38
Way Forward
39
o Completed debottlenecking of 1 Oncology block & 1 Non-Oncology started the manufacturing the product
API
o Initiated debottlenecking of all the production blocks
o 2 major Oncology products batch size increased by 5 times and 7 times respectively
o New Tranexamic block commissioned which is an expansion block
o One new Oncology intermediate block commissioned and taken one product validation in the same
o Expanding reach by entering different geographies/markets
Formulations
o Maintain regulatory compliance in Europe and other countries
o Resolve the GMP concerns raised in Warning Letter and Import Alert
o Mitigate risk in US market by alternate ways like site transfer of products, new QC laboratory, etc.
Way Forward
40
o Diversification in other therapeutic areas like Biologics, portfolio expansion to Transdermal Dosage Forms and Oral thin films
formulations. The manufacturing unit at Bengaluru has delivered exhibit batches for additional products
o Launch of Shilpa’s branded products for ODF in the domestic market
Future Growth Businesses
o Markets in addition to US may drive the business going forward. Received approvals for products in ROW markets
o In Formulations, developing other therapeutic areas like Dermatology and Ophthalmology
o To support the above, the marketing team has been strengthened both in India and overseas, particularly South
Africa, Canada, South America and Russia
o Vaccines against viruses/adventitious agents – recombinant, viral vaccines to emerge as significant areas of opportunities for
the company over short to medium term
o The Company has recently tied up with Dr. Reddy's Laboratories for the production of Sputnik V vaccine
o Production platforms and formulation, logistics competencies in the area being built via emerging CDMO opportunities now
o R&D facility at Bengaluru is now complemented with a Pilot Plant and an extractable/leachable lab
About Shilpa Medicare Ltd.
41
Shilpa Medicare Limited (SML) started its operations as API manufacturer way back in 1989 at Raichur, Karnataka- India. Today Shilpa Medicare Limited is a global brand in manufacturing and supplying of affordable API and Formulation globally in different regulated markets.
Shilpa Medicare has been on path of expansion ever since its inception. With a regulatory recognized manufacturing set up and excellent scientific expert team in place, Shilpa Medicare has since been on a steady growth path. Currently they are one of the leaders in the Oncology market and offer a complete range of products in this segment spanning to consolidate in field of across APIs, Oncology, API and formulations, they are striving to put in efforts in field of novel drug delivery systems and biotech products along with widening their focus to other therapy areas. Where Shilpa Medicare Ltd today is the result of their constant endeavors for more than three decades.
formulations both in terms of R&D and manufacturing capabilities. Further
Siddharth Rangnekar Karl H Kolah
CDR India
+91 22 6645 1209 / 1220
siddharth@cdr-india.com karl@cdr-india.com
Biological Facility Temple - Dharwad
42
Thank You