Dear Colleagues,
As we begin our first month in the New Year I am filled with hope of new possibilities, opportunities and continued successes.
Last year, I am proud of our teams in making every effort in ensuring continuity of the businesses while securing stable revenues. Our focus in increased operational efficiencies was foundational for our continued sustainability. As our strategy unfolding, our revenue as well as margins are improving in Radiopharma while Allergy Immunotherapy businesses continues to deliver strong performance. In CDMO Sterile Injectables, we are embarking upon an ambitious growth journey with expansions announced for Spokane site for $ 285Mn in partnership with the US Government and an investment of $76Mn to expand capacity at the Montreal facility with the support of Canadian government.
Moving forward to 2023, Patient safety and Quality will remain our top focus and our compliance program at Jubilant Pharma must be best in class with the expectation that we are inspection ready all the time. This is a very important enabler in continuing to protect our business performance as well as our leadership positions. Additionally, we need to continue to optimize cost efficiencies which will enable us to continue to invest in the businesses and grow further.
In our Allergy business, we look to sustain our momentum by leveraging our sole supplier status of venom Allergy Immunotherapy in US to build volumes in Venoms as well as non-Venom extracts and further expand Venom to large international markets.
In CDMO Sterile Injectables we will sustain momentum with top customers, continue to fill pipe line for upcoming capacity and achieve first mile stone of expansion by doing media fill on line 3 in CY2023 as well as commission a new Ophthalmic line at Montreal.
In Radiopharma, the Ruby Fill growth and the clinical trials of our NDA I131 MIBG are progressing well and will remain under focus while team continues to outline the long term theranostic strategy. Additionally, we will continue to protect leadership in stable and profitable products like MAA, DTPA, while targeting to launch at least 2 more generic cold kits in coming year.
In our Radiopharmacies business, we continue to work on transformation to make business break even in FY24. We’ve already put several foundational capabilities in place e.g., strong leadership, IT infra., quality systems, various operational efficiencies and top line growth projects along with focus on new PET products to move us closer to our aspiration on achieving mid to high single digit EBITDA in coming years.
As a final point, we stay true to the Jubilant core values, of providing excellent quality products and services to our Patients and Customers.
I would personally like to thank each and every member of our Jubilant Family for their continued commitment and hard work. I wish a very joyful and prosperous New Year to you and your loved ones.
Regards
Pramod Yadav
CEO - Speciality and Sterile Injectables, Jubilant Pharma