Indies Pharma inks distribution deal for USFDA approved drug


Indies Pharma which earlier indicated that it was at an advanced stage of appointing a distributor for its newly approved drug Regadenoson by the USFDA for distribution in the United States expects to see the start of sales in Q2 2025.

The company indicates that deal has been executed. The identity of the distributor was not disclosed, but management outlined, “The agreement was successfully executed with an agreed target launch of the product as 2nd Quarter of the current financial year. This success story is a proud milestone not only for Indies Pharma but also Jamaica as a Nation to celebrate this great achievement as the first pharmaceutical company from the Caribbean to secure USFDA approvals.”

Indies Pharma is a vertically integrated company offering its consulting, regulatory and intellectual property services in addition to its marketing and distribution services to its overseas pharmaceutical manufacturers.

As outlined on its website, initially, it was promoting the third party brand names but strategically and eventually graduated to develop its own brand equity by securing the intellectual property and trademarks.

The company started its operations with six basic prescription drug presentations in 2005. Now, it has approximately more than hundred (100) drug presentations in the market and has filed for over 350 drugs for licensing at the Ministry of Health in Jamaica .

Indies Pharma indicates that, with all the licenses on hand the company intends to secure at least a 10 per cent share of the current Jamaican pharmaceutical market, which is estimated to be between US$100 and US$120 million per annum.

Along with its branded drug development and distribution activities, the company says it has forayed into diversified channels to increase its revenues. Indies Pharma will be the local custodian of BIOPRIST branded drug formulations to be marketed, distributed and sold in Jamaica.



Indies Pharma has also partnered with an independent (un-named) brand owner company for perpetuity to market and sells their beverages brand, dental products and herbal supplements in the island of Jamaica.



For the first quarter, three months ending Jan 31, 2025, Indies Pharma Jamaica Limited earned gross sales of J$ 326 million, versus J$ 269 million in the prior year, a year-on-year increase of 21 per cent

Gross Profit for the period was recorded at J$220 million in comparison to J$189.5 million recorded in the prior year, which represents a 16 per cent increase (J$ 30 million.

Net Profit increased by 19 per cent (J$ 11.6 million) in the current 1st Quarter Period, compared to the prior year 2024.

Earnings per share recorded an increase of 19 per cent in the current 1st Quarter Period $0.056 from $0.047 in comparison to the prior year.

Total assets valued as of 31st January 2025 were J$ 2.398 billion compared to J$ 2.294 billion as of Q1 for the period 2023-24, an increase in value of 4.5 per cent.

Shareholder equity was recorded at a value of J$ 1.367 billion compared to J$1.281 billion as at Q1 2023-24, an increase of 6.7 per cent.

Total liabilities were recorded in the current year Q1 2024-25 with a value of J$ 1.030 billion compared to Q1 2023-24 of J$ 1.012 billion, an increase of 1.8 per cent.



Caribbean Money Daily.

 

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