Sir, historically, if we look at our track record before Panacea, we have always had a slightly conservative mindset when it comes to M&A and now we believe that there is no outer limit for any potential acquisition. So it would be helpful if you can elaborate on what has driven this change in approach?
Understood. Sorry, sir, you were saying something, I missed that.
In your discussions with CDMO customers, do you get the impression that big pharma companies are really looking to curb their exposure to China? And there has been a lot of anticipation on this over the last 4 years now since COVID. By when do you think this would start translating into business for Indian CDMO companies like us?
Sir, the second question is, within the peptide segment, you had a lot of prior experience in protecting groups like t-Boc and Fmoc within solid-phase synthesis. I think you have also developed di-boc. For Semaglutide, tirzepatide, as well as the upcoming GLP-1 combinations, can either of these protecting groups be used? Is it that a few of these protecting groups are only one or maybe some protecting group is more appropriate than the other?
Hi, thank you for the opportunity. Sir, first question, how has been the ramp up in utilization of the Limbasi facility?
Thank you, sir. So, then if I look at the 7% year on year growth in the API segment in 9 months, would it be fair that our blended pricing is down in high single digits compared to 9 month FY23?
Sir on that question on ARPOB, we have reported a 15% ARPOB CAGR over the last three years. And you alluded various factors – case mix, international, institutional insurance, et cetera . Now, would it be fair to say that a larger chunk of this improvement can be attributed to an improved case mix?
That's helpful. Maybe a question linked to that is , as we double our bed count over the next four , five years would the case mix for the newer beds be as good as our flagship hospitals right from year one or the ramp up in our case mix would be?
So, you mentioned about expecting to make some announcements on the expansion bed shortly. So, just wanted to check when it comes to different expansion models, like say between partne r, built -to-suit, O& M, and acquisitions, do we have any specific preference?
Understood. Okay. And on that point, on this CARE acquisition, you have been providing regular updates, including one yesterday night. Now, on one hand, the appeal is reserved for orders and on the other hand, Blackstone seems to have announced the acquisition, at least as per media articles. So, not sure what to make out of this. Can you please help elaborate on the current situation?
Hi, good morning. Thank you for the opportunity. Sir, first question. While occupancy has been significantly lower this quarter on a year-on-year basis, our margins have been fairly resilient. One reason can be the strong ARPOB growth and lower ALOS. Are there any other reasons which led to margins remaining relatively steady in this quarter?
Understood, sir. Anything on the cost side which you can highlight or basically it was business as usual in this quarter on the cost side?
Hi, thank you for the opportunity. Sir, my first question is more of a continuation of the previous discussion. If you look at our margin profile between mature and developing, there is a big difference, as you said, almost 10 percentage points. Without giving any numbers, is it possible to broadly rank all the five facilities in the order of their profitability?
Fair enough, Pankaj. That's helpful. The second question is, if you look at, I mean , Patna and compare it to Lucknow, if I exclude the difference, which will potentially come up in the future because of the PPP partnership, is there any other fundamental reason which can lead to our margins in Patna being different than Lucknow?
Good morning everyone. If you look at what we had spoken about when it comes to Bengaluru in the previous call, we had indicated about 750 beds coming up versus the 450 which we have announced now and also in terms of timelines we are now talking about a Q4 FY2025 quarter for operationalization compared to the earlier timeline of Q2 FY2025, so there seems to be a delay of six months plus the number of beds have come down. Maybe we are indicating just one facility out here versus two earlier, so can you please help understand why exactly there has been a delay and also on the bed count please?
Okay, broadly assuming the January and February timeline is met, so the second hospital also should be operationalized around the end of FY2025?
Sir, first question on Leqselvi. Even though the penetration of targeted treatments for alopecia areata is quite low in the U.S., you've seen some stagnation in prescriptions for 1 of the other 2 molecules for this indication in particular. So from a market standpoint, is there any aspect that could hinder growth for targeted treatments like Leqselvi?
And the second one is more of a clarification. I missed your response on the U.S. manufacturing presence. You spoke about already having a presence, but you also spoke about open to considering a further manufacturing presence in the U.S. Did I hear it correctly?