Wed Sep 11 05:05:49 UTC 2024: ## Indies Pharma Aims for Revenue Doubling with FDA-Approved Generic Drug

**Kingston, Jamaica** – Indies Pharma Jamaica Limited is poised for significant growth after securing FDA approval for its generic version of Regadenoson Injection, a drug used to treat heart disease. The approval, granted three months ahead of schedule, is expected to propel the company’s revenue to double next year and potentially reach $3 billion by 2025.

The generic drug, developed entirely in-house by Indies Pharma, was manufactured under contract by an unnamed company in India. CEO Guna Muppuri highlighted the drug’s uniqueness and the limited competition in the market, stating that it “is a unique and rare drug used specifically with patients suffering from heart diseases and who have to undergo certain tests.”

The company plans to launch the generic Regadenoson in the US market by the end of this year or early 2025, targeting all hospitals that perform cardiovascular procedures. Muppuri emphasized their goal to “cherry-pick the best” drugs with less competition, aligning with their intellectual capabilities and market foresight.

Despite the company’s success in the US, Muppuri expressed disappointment with the sluggish approval process from Jamaica’s Ministry of Health. He noted that since 2018, Indies Pharma has struggled to obtain approvals from the ministry, highlighting the potential for Jamaican patients to miss out on the benefits of their new drug.

The development of the generic Regadenoson was funded by half the proceeds from an $805-million bond issued in 2020. The remaining half funded the acquisition of land in Montego Bay, which has already seen a significant increase in value. With the projected revenue growth, Muppuri anticipates repaying the bond ahead of schedule.

Indies Pharma’s ambitious plans to double revenue and launch its generic drug in the US market demonstrate the company’s commitment to innovation and growth, while also highlighting the need for streamlining the approval process in Jamaica to ensure patients benefit from locally developed pharmaceutical solutions.

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