Sun Pharmaceutical and Industries, a Rs.5,700 crore plus pharma entity, has posted impressive consolidated performance during the quarter and nine months ended December 2011 with inclusion of working of Taro Pharmaceuticals, Israel in the current period. The company's consolidated net profit increased by 90.9 per cent to Rs.668.30 crore from Rs.350.15 crore in the corresponding period of last year. Its EBDITA improved by 88.2 per cent to Rs.877.43 crore. Its consolidated net sales also went up by 37.7 per cent to Rs.2,145 crore from Rs.1,562 crore. The earnings per share moved up to Rs.6.5 from Rs.3.4 in the last period.
Sun Pharma's sale of branded prescription formulations in India reached at Rs.696 crore with contribution of 32 per cent to its consolidated sales during the quarter under review. Excluding third party manufacturing business which has been discontinued, underlying growth worked out to17 per cent. The company launched 6 key products in the Indian market.
Dilip Shanghvi, chairman and managing director, said, “Business performance is in line with our expectations and he underlying market growth. We expect the momentum to continue.”
The sale of finished dosage products in US touched to $208 million and accounts for 42 per cent of its sales. The remediation efforts at the Caraco facility in Detroit are going on. Formulation sales in market, outside India and US, accounted for $56 million in third quarter. Its consolidated R&D expenditure amounted to Rs.124 crore or 5.8 per cent of its sales. It filed one ANDA with US FDA and cumulatively total reached at 389 products. ANDAs for 3 products received approvals, taking the total number of approvals to 241. At present, 148 ANDAs are awaiting approval. It filed 222 DMF/CEP applications with total approval of 150. It filed 558 patent applications and received 274 patents.
For the nine months ended December 2011, its consolidated net sale increased by 33.3 per cent to Rs.5,675 crore from Rs.4,268 crore in the same period of last year. Its net profit moved up by 24.6 per cent to Rs.1,767 crore from Rs.1,418 crore. Its sales of Indian branded prescription formulation reached at Rs.2,039 crore and that in US reached at $523 million. Its R&D expenditure climbed to Rs.310 crore for the first nine months of 2011-12.