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Domestically, we intend to focus on the in-licensing and co-marketing of patented molecules for the Indian market. Our focus is on growth-oriented therapy areas such as neurology, psychiatry, cardiology, diabetology, urology, nephrology and hydrocodone ointment brown liver spots sun damage pain management. We also intend to actively seek and evaluate potential acquisitions of strategic brands in therapy areas relating to the respiratory system, gynecology and dermatology.
As regards our international business, in 2009 we acquired two companies, namely Bioxel Pharma Inc.
and Farmabiot SA DE CV, and plan to continue to acquire targets to expand our presence in developed or emerging Asian markets such as Japan and China.
We also plan to enter into other business arrangements including marketing authorizations of technology platforms for future development that may complement or enhance our business, either through expanding our market share in attractive markets or acquiring niche products to complement our product basket. OUR BUSINESS We manufacture and market our pharmaceutical formulations in India and internationally. Chart-I set forth below presents a breakdown of our sales in India and international markets, also expressed as a percentage of our revenue from operations, for fiscals 2008, 2009, 2010, 2011 and hydrocodone ointment brown liver spots sun damage 2012, and the nine month period ended December 31, 2012.
Particulars For the Year Ended March 31, For the Nine Month Period Ended December 31, 2008 2009 2010 2011 2012 2012 C million) % of Revenue from Operation s C million) % of Revenue from Operation s (T million) % of Revenue from Operation s (T million) % of Revenue from Operation s (T million) % of Revenue from Operations % of Revenue from Operations Domestic Sales 6,451.8 68.6 7,834.0 68.8 9,804.2 60.3 11,975.9 60.6 14,956.4 53.6 13,113.4 48.3 Export Sales 2,863.7 30.4 3,311.0 29.1 5,693.9 35.0 6,796.5 34.4 11,941.7 42.8 13,156.6 48.4 Sale of Services - - 128.8 1.1 489.0 3.0 765.4 3.9 788.0 2.8 726.9 2.7 Export Incentives .... 95.7 1.0 117.1 1.0 259.8 1.6 230.6 1.2 195.2 0.7 52.4 0.2 Other Operating Revenue - - - - - - 7.6 0.0 6.3 0.0 116.0 0.4 Revenue from Operations.... 9,411.2 11,390.9 16,246.9 19,776.0 27,887.6 27,165.3 We have vertically integrated our operations to include the development and manufacture of APIs for captive consumption. APIs are the principal ingredients for finished dosages and are known as bulk drugs. The raw materials, including APIs, required for our pharmaceutical formulations are manufactured in-house, and are also procured from other manufacturers hydrocodone ointment brown liver spots sun damage both in India and globally. We believe that our API development capabilities offer us a competitive advantage in our pharmaceutical formulations business. Domestic Sales and Marketing We are currently ranked as the 12th largest pharmaceutical company in India in terms of market share, based on domestic sales of formulations.
(Source: IMS Health Information and Consulting Services India Private Limited.).
Sales in India, the primary market in which we conduct our business, amounted to ' 14,956.4 million, or 53.6% of our revenue from operations, in fiscal 2012. For the nine month period ended December 31, 2012, we derived 48.3% of our revenue from operations from sales in India. Our domestic business grew at a CAGR of 23.4% (in terms of revenue) between fiscal 2008 and fiscal 2012. As of December 2012, our chronic care portfolio contributed 59.5% of our domestic sales with a year-on-year growth of 17.4% and our other therapy areas contributed the balance with a year-on-year growth of 11.0%. Chart-II set forth below represents the growth hydrocodone ointment brown liver spots sun damage of our domestic market share in certain years during the last two decades along with our rank in the Indian pharmaceuticals market in each year.