Going forward, Jasti says, the company was preparing to fast-track the development of its Alzheimer drug candidate SUVN-502. "We are in the final stages of putting a development team in place," he told CNBC-TV18 in an interview.
Below is the edited transcript of the interview on CNBC-TV18
Q: What is your revenue, EBITDA and profitability this quarter?
A: Our revenue growth was about 25 percent this quarter and the growth in profits-after-tax (PAT) was about 500 percent. Revenue increased from 50 crore to Rs 63 crore and profit was Rs 7.75 crore versus Rs 1.3 crore.
Q: What has led to this strong jump in your profitability this quarter?
A: Our contract research business supplied a value-added compound during this quarter.
Q: Did you receive any milestone payments this quarter?
A: No, the payments were not a milestone category. The payment is according to a supply agreement.
Q: Will you begin to supply any active pharmaceutical ingredients (API) drugs because of this?
A: This is not an API. This is an Advanced Intermediate and it will be certainly long-term because we can supply this when it is marketed hopefully, next year. My customer will be putting a new drug application (NDA) and based on that our volumes will also go up from next year onwards.
Q: What was research and development (R&D) costs this quarter and how much did it comprise of in terms of a percentage of revenues?
A: The percentage of R&D costs to revenue is about 15 percent, about Rs 8 crore this quarter.
Q: What are your operating margins EBITDA?
A: The EBITDA is Rs 13 crore and operating margins are about 24 percent.
Q: You have ten patents from Canada and 12 from Eurasia. What is the development on the new chemical entities (NCEs) at this point in time?
A: We are preparing to put SUVN-502 on a fasttrack mode into phase II-A clinical trials and we have almost finalised a protocol. There are two small-bridge studies to be conducted before we file the investigational new drug (IND) in the USA. We are in the final stages of putting a development team in place within the next two-to-three months.
Q: Any licensing deals we can expect going into 2013?
A: As of now, there are no deals in the pipeline.
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