Hi. Good evening, all. Following up on gRevlimid, Erez, are you seeing any significant price erosion in gRevlimid as of now, compared to 6 months back?
Okay. And just to reconfirm what I heard earlier. I believe, you said that for financial year '26, you can do a double-digit growth and maintain the EBITDA margin at the same level of FY25. Did I hear that correct?
Hi, good evening. C ouple of questions from my side. Would you give some colour on Iron Sucrose filing that you have done? Or do you expect approval anytime soon?
Got it. Second on Abatacept, some of your competitors have tried in the past, but it seems it's a difficult product and some of them seem to have given up. What gives you the confidence that your product can see through the FDA approval process?
Hi, good evening. Just following up on a previous answer - abatacept, you said could be a launch in early '27. Did you mean calendar '27?
Okay. And I was looking at the Russia growth adjusted for the currency fluctuations . It seems the first half growth in Russia and CIS is a bit muted, probably around the mid -single digits. Any particular reason? And what's the outlook for the rest of the year?
Hi, good evening. Just a question on a couple of products in the U.S. One, you had acquired this ANDA to generic Lumify® from Slayback Pharma. What is the status, when do you expect an approval? I believe it was already filed when you acquired it. When do you expect approval and launch?
And, any timelines for the launch?
Hi, good morning, good evening. Just a couple of quick questions. One, you have this product , gLumify, which you have been licensed in the U.S. So, is there any timeline we can get regarding the approval of the same?
Second on biosimilar Rituxan. Could you give some color on what sort of timelines you have in mind for the launch? Also, given the recent inspection of U.S. FDA and the outcome, etc.?
This is Bino from Elara. Yes, a couple of questions from my side. Dr. Raghuvanshi, we are seeing a lot of your competitors being very aggressive in expansion. They are buying a lot of land for new setups, greenfield setups in many of the big cities, plus they are aggressive on the M&A side as well. But we don't hear what is being so aggressive in expansion in the space. Is it that you don't intend to be so aggre ssive? Or are these sort of deals you also look at and you decide not to do it?
Understood. Is that more on the M&A side or you are looking at land acquisition in large cities as well?
I had a doubt on the Agilus EBITDA margin numbers. The reported EBITDA is Rs. 55 crores. And in your footnotes, you have mentioned that you have taken a Rs. 19 crore write -off related to Mohalla Clinic. So, if I add that, it becomes Rs. 74 crores EBITDA, but still you say that excluding one-offs, the EBITDA was only Rs. 64 crores. What am I missing here?
Sorry, sorry. I think you didn't get my question. In the footnotes to your financial statements, it is said that in this quarter, Rs. 19 crores of write -off was taken related to Mohalla Clinic. Am I correct there?
So actually, just a request, we are adding 1,800 beds on a base of about 4,000 or 4,500, which is a large number. It would be great if you give a little more color in your press release and investor presentation about where these beds are coming up and a rough time line in terms of each year, each group of beds come up. That will be great and help us understand it more.
My first question is on the U.S. business. We have seen a Q -o-Q decline in the run rate and Y - o-Y as well. So, you mentioned that there were some volume declines in the quarter. Could you comment on was it a quarterly phenomenon, some stock adjustment, etcetera? And what is that going forward on the quarterly run rate?
So next quarter, we should see a significant Q -o-Q improvement in numbers. Can we assume so?
Hi. Good evening. Starting with Dr. Reddy's contract, is it for the entire API formulation, etc., or will it be just a formulation?
Okay. And would it be for the semi-regulated markets or regulated markets?
Just a question on the U.S. market. In the last couple of quarters, your commentary was very positive in terms of customers coming back and inquiries going up, a lot of demand for products, etc. Is that pretty much as great as it is today? Or have you seen a bit of pulling off that tightened demand over the last couple of months?
Understood. So, last quarter, there was a high element of milestones. So, excluding that, this quarter, can you look at this quarter as a sort of maintainable base on which you will see some improvement as the quarters come by?
I was looking at your business from last 10 years perspective. 10 years back, you used to do consistently 37% to 38% EBITDA margins. Now it has come down to around 31% or so. It has gone down and it has improved to 31%. What has structurally changed in the business from 10 years back and now? Is it only the generic pricing pressure that is leading to this?
Yes. So this is sort of a new normal compared to 10 years back.
Good morning and congratulations for a great set of numbers. Most of my questions are asked. Hence just a couple of bookkeeping questions. In your presentation, the total number of beds for the -- at the end of the quarter is 4,610, but if I add up your four cluster beds, it comes to only 4,275. There is a differenc e of 335 of which I guess Kerala is 200. Could you explain the remaining difference, please?
Okay. That will also get added next quarter. And for Guntur and Kerala which are like O&M, what would be the accounting treatment? Would you be fully consolidating the numbers or would you recognize only the 5% income -- revenue share income as income?
Hi, good evening. Just a follow-up question. You know, I have -- in your financial statements, I see that your revenue across geographies are impacted, not just the US. So when you say there was a shutdown of lines, are the lines very common across the US, other emerging markets, semi-regulated markets, India, etcetera?
Got it. And sir, when you say it is starting in a phased manner from October, is that same for all markets again or is it that our markets can ramp up faster than US supplies?
Most questions answered. Just a couple of clarifications. Umang, in the next few months, we probably will see one or even two more players entering the albuterol inhalation market. What do you -- what are your thoughts around that? Do you think there could be another round of little price erosion market share loss, et cetera?
Understood. Second question on domestic market. You had done a deal with Sanofi for the CMS products. Is the full benefit of that reflected in Q1 revenues?
Umang, just a clarification on Symbicort. Did you say that it is as of now file from Indore?
Okay. So that impairment is gone. So, on this year's base then, as we do more CapEx, we should see this moving up as we go along, right?
So, a couple of clarifications on the number of beds. Just wanted to know if the Rourkela has been added? Is it operational already?
Okay. Because in the Eastern region, I am seeing only about 50 beds added to the operating beds in your presentation.
Clarification on the margin, sir, if I heard right, you have given a more consol EBITDA margin guidance of 18% for FY '25, cor
Okay. And you also told around INR 225 crores of EBITDA in FY '25?
First, R&D plan now for the U.S. market, how many ANDAs do you plan to file a year?
Okay. And then this is sort of a level, which should sustain yearly, like run rate wise?
Hi. Good afternoon and congrats on a good set of numbers. Just one question around ARPOB. We are seeing that most of your peers, competitors are reporting very high ARPOB growth this year, in the range of 15% and above. As I understand, there has been qui te a few revisions in insurance rates, CGHS rates, etc. this year, which is helping people, apart from, of course, maybe some case. I was wondering why your ARPOB growth is much lower at around 4% levels.
Yes, yes.