Aman Vij: Sorry, on the time line, so I believe it will be in the next few months only, right, on the U.S. launch of this product? .
Erez Israeli: I don’t want to speculate on time at this stage.
Aman Vij: But we are ready to launch whenever it happens?
Erez Israeli: We will be there.
Operator: [Operator Instructions]. The next question is from the line of Tushar Manudhane from Motilal Oswal Financial Services.
Tushar Manudhane: Just on this e-commerce foray, so would like to understand what is the strategy behind it, what kind of investment are we thinking in this particular foray?
Erez Israeli: Investment of what, sorry? In e-commerce? It’s not a big investment but it allows us additional channel for our products as well as other nutraceuticals. And I believe that it’s very nice and other channels and another part of the capabilities that we have now in India. That is not a big investment.
Tushar Manudhane: Okay. But in addition to the typical nutraceutical products, we would be also having this prescription-based product on this platform?
Erez Israeli: The specific platform is direct to consumer that you mentioned, which means nutraceuticals and products that do not require a prescription, OTC.
Tushar Manudhane: And sir, secondly, just on the trade receivables have been reasonable reductions if I compare quarter-over-quarter. Any read-through over there?
Parag Agarwal: Sorry, Tushar, your voice is not clear. Can you repeat that question?
Tushar Manudhane: Is it better?
Parag Agarwal: Yes.
Tushar Manudhane: There has been good reduction in the trade receivables quarter-over-quarter, any read-through over there?
Parag Agarwal: It’s normal. There’s nothing unusual. I think it depends on the credit period, the cycle and the receipt of orders. So we obviously keep a very tight track of all our receivables and collect on time. So nothing unusual in this, yes.
Operator: The next question is from the line of [indiscernible], An Individual Investor.
Unidentified Analyst: Sir, are we looking at any 505(b)(2) opportunities in the U.S. market?
Parag Agarwal: Sorry, which opportunities in the U.S. market?
Unidentified Analyst: 505(b)(2) opportunities.
Erez Israeli: For which product, sorry?
Parag Agarwal: General.
Erez Israeli: So 505(b)(2) that requires sales force, we will not do. 505(b)(2) that is interchangeable, we would love to do.
Unidentified Analyst: Okay. And what would be the price erosion for the quarter?
Erez Israeli: What is there?
Parag Agarwal: Price erosion. Yes, price erosion, we are finding the trends to be stable, Tushar. So if we look at the last few quarters, we had seen price erosion moderating, and we are now seeing it around the same level. So — but from one quarter to another, it will typically fluctuate between say, high single digit to low double digits.
Unidentified Analyst: And are we going to see any price increases as many suppliers are going out of the market?
Parag Agarwal: We are not building on that.
Unidentified Analyst: Or it will be product specific?
Erez Israeli: It’s normally a product specific, and we are not building on that. If we — if there is a shortage situation and we will supply, but we are not building into our models any price increases.
Parag Agarwal: Yes, whenever there’s an opportunity — opportunistic, not strategic.
Operator: The next question is from the line of Damayanti Kerai from HSBC.
Damayanti Kerai: My question is on India business. So first of all, can you tell us how much India sales is currently contributed by chronic therapies? And then second part of my question is how many sales representatives you have for your India business? And do you have plans to expand on it?
Erez Israeli: The chronic is about 35% of the business. And as time goes by because most of what we launched, especially they would be more chronic in nature, this will grow. As for the numbers of salespeople, if I remember correctly, it’s a little bit more than 6,000 people. And we’ll grow as we will bring the innovations. So accordingly, we would adjust the numbers.
