Company with 11,000 employees and €448m revenue eyes Irish expansion
Indian specialty pharmaceutical company Ajanta Pharma is reportedly set to establish a manufacturing facility in Ireland, though a company spokesperson declined to comment on the planned Irish operations.
Ajanta is a publicly listed company employing 11,000 people with seven manufacturing facilities in India. Six plants produce finished pharmaceutical formulations while one manufactures active pharmaceutical ingredients. The company also operates a research and development facility in Mumbai employing 1,000 staff.
The company recorded revenue of €448 million in the last financial year, representing a 10 percent increase over the previous period, and generated free cash flow of €67 million. The branded generics segment accounted for 74 percent of company revenue, up from 71 percent in the prior period.
The US generics business accounted for 23 percent of total revenue, growing 9 percent year-on-year. Ajanta said it expects strong growth in the US market this fiscal year. The company sells more than 550 products in over 30 countries, with particular focus on India, other emerging markets and Africa.
Ajanta specializes in therapeutic areas including cardiology, anti-diabetes medications, ophthalmology, dermatology, antibiotics, anti-malarials, pain management, respiratory treatments, gynecology, pediatrics and general health products.
The company released second-quarter results in November last year showing revenue growth of 14 percent and profit after tax growth of 20 percent during the period.
Ireland has become an increasingly attractive location for pharmaceutical manufacturing due to its skilled workforce, favorable business environment, established pharmaceutical cluster and access to European markets. The country hosts manufacturing operations for many of the world’s leading pharmaceutical companies and has developed deep expertise in pharmaceutical production and regulatory compliance.
If confirmed, Ajanta Pharma’s Irish facility would add to the growing presence of Indian pharmaceutical companies in Ireland’s life sciences sector. The investment would also align with Ireland’s strategy to attract high-value manufacturing operations that create skilled employment and contribute to the country’s knowledge economy.
Details regarding the location, scale of investment, employment numbers and timeline for the planned Irish facility have not been disclosed. The company’s decision not to comment suggests negotiations or planning may still be underway.