Ranbaxy Laboratories, a Indian pharma leader and subsidiary of Daiichi Sankyo of Japan, has posted net loss of Rs.586 crore during the second quarter ended June 2012 as against net profit of Rs.243 crore in the corresponding period of last year mainly on account of forex loss of Rs.850 crore as compared to gain of Rs.134 crore in the last period. Earnings per share worked out to negative Rs.13.89 as against Rs.5.77 in the last period. However, the net profit before forex adjustment moved up strongly by 141 per cent to Rs.269 crore from Rs.109.46 crore.
Its EBDITA also moved up by 154 per cent to Rs.581.06 crore from Rs.229 crore in the similar period of last year despite significant higher other expenditure of Rs.1,208 crore as compared to Rs.701 crore.
The company's consolidated net sales have taken quantum jump of 55 per cent and touched to Rs.3,174 crore from Rs.2,054 crore. The sales in USA were robust helped by strong base business and exclusivity sales. Exclusivity of atorvastatin and atorvastatin plus amlodpine ended during the quarter. The company attained peak market share of over 50 per cent on both products during the exclusivity period. Its Indian sales increased by 13 per cent with launch of Synriam for the treatment of plasmodium falciparum malaria, in adults.
Its sales in North America improved by 140 per cent to Rs.1,471 crore and USA sales were Rs.1,377 crore. Its sales in India and Sri Lanka reached at Rs.554 crore, a growth of 13 per cent. The European and CIS sales increased by 19 per cent to Rs.553 crore. Emerging market sales were impacted adversely in US Dollar terms due to the strengthening of the dollar against such currencies.
Arun Sawhney, CEO and managing director said, “Sales and profitability grew in the quarter with overall improvement across major regions, aided further by exclusivity sales in some of the key markets. We capitalized on our product focus approach with the successful monetization of the atorvastatin and atorvastatin plus amlodipine opportunities. The launch Synriam, the first new drug from India was one of the high points of the quarter. The strategy to build long term, differentiated value drivers was rewarded with two NDA approvals in the dermatological space in the USA.”
The company made 51 dosage form filings and received 33 approvals and for APIs, it made 36 DMF submissions during the quarter.
For the first half ended June 2012, Ranbaxy's consolidated net sales improved by 63.7 per cent to Rs.6,869 crore from Rs.4,195 crore. Its net profit improved by 23.2 per cent to Rs.661 crore from Rs.548 crore.