| Sun Pharmaceutical Industries, a Rs.4100 crore plus pharma company, has posted better performance during the second quarter ended September 2010. Its consolidated net profit increased by 11 per cent to Rs.503.65 crore from Rs.453.81 crore in the corresponding period of last year. The net sales and other income moved up by 15.6 per cent to Rs.1370 crore from Rs.1185 crore. Its earnings per share worked out to Rs.24.3 from Rs.21.9. |
| Its sales of branded prescription formulation in India increased by 36 per cent to Rs.641 crore and sales of Caraco Pharma, a US subsidiary, up by 25 per cent to US$ 98 million. However, it incurred a loss of US$ 1.5 million. . Its EBDITA reached atRs.522.63 crore as against Rs.513.67 crore in the corresponding period of last year. The company holds 3.7 per cent market share in the highly competitive pharma market. It launched 11 key products during he quarter under review. The consolidated R&D expenditure reached at Rs.76 crore, or 5.6 per cent of income from operations. |
| For the first half ended September 2010, Sun Pharma posted net profit growth of 72.9 per cent toRs.1068 crore from Rs.618 crore in the similar period of last year. Its net sales jumped by 40.4 per cent toRs.2761 crore from Rs.1973 crore. |
| Dilip Shanghvi, chairman and managing director, said, “As witnessed in the first six months of this fiscal, our base business continues to progress well in line with our expectations. Pace of product approvals remains good. While the business is set to deliver the expected growth as announced at the beginning of the year, the larger task ahead is revitalizing Taro's business. Even as we handle this and the challenges related to GMP compliance, we expect to emerge as a much stronger company with an expanded product portfolio and a larger international presence.” |
| Sun Pharma and Caraco received approval for 94 products. In the July-September quarter, Sun filed 2 ANDAs with US FDA. With this, in the first half, ANDAs for a total of 6 products have been filed. It received approvals for 10 products during first half. Taro brings a pipeline of 150 filings, of which ANDAs for 123 are approved and the balance 27 pending approval. Most of these ANDAs are in the dermatology and paediatric space. |
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