New Delhi: US-based Allergan Inc is eyeing over two-fold jump in its revenues from India at Rs 1,000 crore in the next four years on the back of new product launches and consolidation of the existing business segments. The Nasdaq-listed healthcare firm, which manufactures leading facial aesthetics and anti-ageing drugs Botox and Juvederm, is present in India through a wholly-owned arm.
"Our dream is to touch Rs 1,000 crore revenue figure by 2017-18. We are on track to get it on the back of what we have created here," Allergan India Managing Director Raghu Kumar said. Deep relationship with the stakeholders, new product launches and the team which the company has been able to create in the country would help it achieve the revenue target, Kumar added.
The company, which has presence across three main business verticals in the country -- eyecare, cosmetics and neuro sciences, currently garners around Rs 400 crore in revenues from the country. When asked about the new product launches, Kumar said: "We plan to launch 2-3 eyecare products every year in the country. We are also looking to build the skin care vertical by introducing products from SkinMedica portfolio".
Allergan Inc had completed the acquisition of SkinMedica in 2012. Elaborating further, Kumar said the company is in the process of getting regulatory approvals from regulatory authorities in India to launch some of the SkinMedica products by 2016. On the cosmetics business, the company is focusing on doctors and clinics across the country as the products like botox and Juvederm are only sold to clinics or physicians.
"This vertical is still at a nascent stage. It will take a lot of awareness activities to build it up," Kumar said. The company, which believes in institutional sales as the drugs has to be administered by a professional cosmetologist, has tied up with well-known skin clinics such as Kaya and VLCC among others in the country. Allergan Inc employs more than 9,000 people worldwide, with around 500 people working for the firm in India.
