Alkem Laboratories Ltd
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Latest From Alkem Laboratories Ltd
India’s Alkem has delivered a strong quarter with a boost in its domestic business on the back of “strong volume-led growth in the acute therapies and faster than market growth in chronic therapies.” However, the company saw a slight YoY decline in the US.
The generics industry struggled with the prior-year comparison as it saw an expected decline in revenues in the first quarter of 2021, driven by the global impact of the COVID-19 crisis. As a result, the performance of most companies fell short of the numbers reported in Q1 2020. However, a few managed to contradict the trend by reporting growth, either based on the launch of COVID-related drugs or performance in specific geographies.
Women’s health specialist Theramex has struck a deal with Alkem’s Enzene Biosciences biotech subsidiary to gain rights to Enzene’s proposed denosumab biosimilar version of Prolia in Europe and Australia.
India’s Alkem Laboratories has reported double-digit growth in its US business for financial year 2021, after seeing its US business double in four years. The company also saw recovery in its domestic business on the back of robust growth delivered by its generics business.