AJANTA PHARMA

AJANTA PHARMA

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Till March the % share of Ajanta was around c2-3% and before that (during FY15) - it was even lower. Accordingly Ajanta recorded sales of 4cr for full year from Risperidone. Only in May, June the % share jumped - hence somewhat better numbers can be expected in FY16

The $ amount sales which we can see to be around $5-6m in latest week, this can be bit misleading because this sales is at Retail level (mentioned in the chart itself), this is similar to MRP in India. So this $6m will have retailers margin as well. What sales Ajanta record in its books will be significantly lower. There can be timing issues here as well, when the drug actually got sold in the market (which will be captured in the above graph) and when Ajanta sold drug to the distributors, etc. In short, its safe to assume more than 50% haircut to what approximations we get from this graph.

Given the data, believe sales of 15-20cr can be expected from Risperidone during Q1 for Ajanta.