Herbal wellness major, Himalaya Drug Company is targeting about 12 per cent growth in revenue to Rs 1,450 crore this fiscal on robust sales in the domestic market, as per a PTI report.
The company that sells medicinal products, including the popular liver protective brand Liv.52, had posted revenues of Rs 1,300 crore in the previous fiscal.
Commenting on the development, Philipe Haydon, CEO of Himalaya Drug Company,said: "We are looking at clocking Rs 1,450 crore in revenues in the current fiscal year. Our revenue growth is primarily driven by growth in the domestic market."
On the road map being planned by the company for future growth, Haydon said: "We are constantly exploring new routes to penetrate our brand across new categories, existing markets, new markets and multiple demographics."
The ayurvedic major is focusing on organic route for expansion and is undertaking research and development activities to develop new drugs.
"Our research pipeline is robust. We are in the advanced stage of drug development for cancer. We are also strengthening our presence in the nutraceutical segment," Haydon said.
When asked about the contribution of various segments for the overall revenues of the firm, Haydon said: "Currently pharmaceuticals and personal care contribute 38 per cent each. The remaining is contributed by baby care and animal health."
Contribution from exports, that is sale of Himalaya products to the companies subsidiaries overseas is at 12 per cent of the total revenue, he added.
The company has challenged the Delhi Medical Council (DMC) notification which says that doctors of modern medicine should not prescribe Ayurveda drugs.
"We have challenged the Delhi Medical Council (DMC) notification...The notification has wrongfully interpreted Section 30 of the Delhi Bhartiya Chikitsa Parishad Act, 1998... The government needs to clearly define the ambit of herbal drugs and non-prescription products used by the general public," Haydon said.