
It gives me great pleasure to inform you that Emcure has done well across all areas in FY10. As a result, sales have grown by 25% over the previous year. At the same time, we have consciously monitored our spending. Given our track record, I am again very optimistic and bullish about the New Year.
Domestic Market

We continued to improve our MAT ORG IMS ranking and now feature among the top 15 companies. We had several new launches this year that did very well- especially, Infen, Proxym, Explode, Sevcar, Emfolic DHA. Overall, we maintained our leadership in our strong segments such as gynaec, cardio vascular and nephrology and increased our focus on high growth segment such as pain management, wellness, oncology and gastro.
We continue to enjoy tremendous credibility and respect with the physician community due to our focus on technology and quality.
Export Market

In the export markets, we had a great year with exponential growth. The sales were driven by a good mix of own technologically differentiated products as well as CRAMS business. With 95 new registrations, we have expanded our reach to 20 new countries. Our strategy is focus on niche and profitable segments with differentiated products like chiral molecules, biosimilars, oncology and nephrology. We take immense pride in the fact that for CRAMS, we have partnered with the top branded and generic companies.
Our Subsidiaries

Zuventus continues to be a brand builder and maintain its share of the highly competitive cephalosporin market , and will also now focus on the chronic segments.
Emcure USA continues to make breakthroughs with its focus on research and innovation. We got approval for a couple of niche and profitable ANDAs this year.
Gennova has added to our pride significantly by its foray into the malaria vaccine research program in association with Bill and Melinda Gates Foundation. We now have Prof. Ganguly on the Board of Gennova and with his able guidance; we hope to introduce several more innovative products in the coming years. Elaxim continues to do very well
Employee focus and CSR

As a company, employee welfare and growth continues to be a focus area. We want to make sure that all our Emcureans have a challenging work environment as well as pride in being associated with a technology driven company. We continued our CSR programs in HIV, anaemia. In addition, we have participated in several health camps and significantly contributed to national calamities like Bihar floods.
Future Outlook

Emcure is poised to take a big leap. We expect to increase our exports significantly and to continue our profitable growth in domestic markets. We are also excited about our new facilities, Oncology and Jammu, coming into operation this year. We will continue our focus on execution. We want to make sure that everyone associated with Emcure---whether it is our employees, physician community, shareholders and other associates---continue to be passionate and excited about our vision---to be a technologically driven company that provides affordable and quality healthcare.