Solara Active Pharma Sciences Share Price Live

History

Solara Active Pharma Sciences Ltd, established in 2017, specialises in the manufacturing, production, processing, formulation, sale, import, export, merchandising, distribution, and trading of active pharmaceutical ingredients (APIs). 

The company operates six API manufacturing plants in various locations, including Ambernath, Mangalore, Mysore, Puducherry, Vishakhapatnam, and Cuddalore, with a combined capacity exceeding 2000 kilo litres. Additionally, it operates two research and development centres in Chennai and Bangalore. The company was listed on the Bombay Stock Exchange and the National Stock Exchange in June 2018.

Solara Active Pharma Sciences serves a global market spanning 75 countries, with a strong presence in key regions such as North America, Europe, Japan, South Korea, the Middle East, and North Africa. The company’s product portfolio includes over 80 commercial APIs, primarily in segments like anthelmintic, anti-malarial, anti-infective, neuromuscular, insomnia, anti-psychotic, and hyperkalemia. These products cater to niche high-value markets and create entry barriers for competitors.

Solara Active Pharma Sciences maintains two state-of-the-art research and development units in Bengaluru and Chennai, with a pipeline of more than 25 products at various stages of development. These products focus on segments such as anthelmintic, anti-malarial, beta blockers, muscle relaxants, novel oral anticoagulants, anti-infective drugs, and other specialised areas. Solara Active Pharma Sciences also initiated commercial production at its new Greenfield plant located in Visakhapatnam, Andhra Pradesh, in 2021. 

Business Segments

Solara Active Pharma Sciences Limited operates in two primary business segments:

1. Active Pharmaceutical Ingredients: Solara Active Pharma Sciences is a prominent international supplier of Active Pharmaceutical Ingredients (API). The company specialises in the production of commercial APIs spanning various therapeutic categories. It is robustly committed to pioneering product development and technological progress, aiming to consolidate its place in the global marketplace.
2. Contract Research and Manufacturing Services: In addition to API, the company is also engaged in providing Contract Research and Manufacturing Services (CRAMS) to pharmaceutical companies from North America, Europe, and Japan.

Subsidiaries of Solara Active Pharma Sciences Limited 

Solara Active Pharma Sciences Limited has 4 subsidiaries, which include:

1. Chemsynth Laboratories Pvt. Ltd.: This is a wholly-owned subsidiary of Solara Active Pharma Sciences Limited. It manufactures speciality chemicals and intermediates for the pharmaceutical, agrochemical, and electronic industries.
2. Sequent Penems Private Limited: This is a subsidiary of Solara Active Pharma Sciences Limited. It is involved in the manufacturing of penicillin and cephalosporin-based antibiotics.
3. Shasun USA Inc.: This is a Solara Active Pharma Sciences Limited subsidiary manufacturing Active Pharmaceutical Ingredients (APIs) and intermediates.

Key Personnel 

Poorvank Purohit, Managing Director and CEO

Poorvank Purohit holds the position of Managing Director and CEO and brings over nineteen years of substantial experience in B2B sectors, particularly in APIs and Finished Dosage Forms. His leadership has been transformative, evidenced by his recognition as the “2021 Person of the Year” by Inner Review Magazine in its March 2022 publication and his inclusion in the “Top 10 Chief Operating Officers of 2021” by CEO Insights Magazine in their September 2021 issue. 

Poorvank has a rich history of contributing to top pharmaceutical companies, including Hikal, Alembic, Jubilant, and Ranbaxy (now part of Sun Pharma). His tenure at R L Fine Chem, a company concentrating on APIs, is marked by his strategic leadership roles, which were pivotal in devising and implementing effective business enhancement strategies.

Management Outlook

• Solara Active Pharma Sciences is poised to capitalise on the expanding generic drug market with the anticipated genericisation of nearly 950 small molecule drugs between 2024 and 2026, indicating a robust market opportunity.
• The company is expected to gain a competitive advantage as Chinese firms face increased production costs due to stringent environmental regulations and rising labour costs, enhancing Solara Active’s market positioning.
• Solara Active may seek to strategically navigate the highly fragmented API and CDMO sectors, leveraging potential consolidation opportunities to strengthen its market presence among many manufacturers.
• With the surge in private equity interest and foreign investment in healthcare, Solara Active could pursue capital infusion to drive growth and innovation, particularly in high-value pharmaceutical manufacturing incentivised by government schemes like the PLI.