• US business performance: Quarterly US revenue exceeded $300 million without any Revlimid contribution, supported by market share gains in established products and plans to scale to more than 40 new launches across multiple dosage formats.
• India market outlook: Domestic formulations are guided to outpace the Indian pharma market by 200 to 400 basis points, driven by chronic therapy expansion and innovative drugs like Saroglitazar, which crossed ₹500 crore and is targeted to reach ₹1,000 crore.
• Buyback and leverage: The company announced an ₹1,100 crore share buyback backed by strong free cash flows, dismissing the need for new fundraising given a comfortable net debt-to-EBITDA ratio of 0.5 times on ₹27,000-plus crore in revenue.
• M&A strategy: Management dismissed rumors of multi-billion-dollar buyouts, emphasizing a disciplined focus on small bolt-on acquisitions—such as Assertio, LiqMeds, and Comfort Click—to expand into specialty, rare disease, and wellness capabilities.