Indies Pharma Jamaica has recorded a strong financial performance for the twelve months ended October 31, 2024, with gross revenues reaching J$1.159 billion, a 10% increase over the $1.055 billion earned the previous year.
The company's gross profit also rose 7% to $775 million, reflecting an additional $49 million compared to the same period in 2023.
Meanwhile, total comprehensive income saw a 4% increase, moving from $213 million to $221 million despite taxes on profits and delays in drug approvals from the Ministry of Health & Wellness.
Indies Pharma attributes its continued revenue growth to strong customer loyalty and consistent product quality, which have helped sustain profitability.
In an historic achievement, the company has become the first in the Caribbean to receive United States Food and Drug Administration (USFDA) approval for its generic drug formulation, REGADENOSON, marking a major milestone for the regional pharmaceutical industry.
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