Indian drug maker Ajanta Pharma is losing its market in Africa and to make good the lost market in the continent, pharma major is focusing on the US and domestic market in India in the branded pharmaceutical segment. Ajanta is a well-known supplier of anti-malarial drugs to Africa. Of late, its business registered a sharp decline in Africa. The exports of anti-malaria drugs took a hair cut of 49% in FY 19 compared to the figures a year ago. Significantly, Africa malaria tender business contributed 18.6 percent to overall revenues of the company in FY18. This got drastically reduced by half to 9.7 percent in FY19. According to the company sources, the future market is also uncertain since the funding bodies which spearhead anti-malarial drive have cut short their assistance. Ajanta Pharma has the distinction of being the first generic company in anti-malaria institutional business for Artimether-Lumefantrine combination in Africa.
Multilateral agencies, which used to fund the curative side of malaria is now focusing or preventive aspects like sponsoring bed nets instead of drugs. Ajanta has supplied malarial drugs to Africa worth Rs 160 crore in the current year. African business contributed 26% of the total turnover of Ajanta’s total revenue of Rs 2055.4 crore in fiscal 19. This is the first annual decline of the revenue of the drug maker in the last 15 years, mainly triggered by the loss of market in Africa.
