Taro Pharmaceutical Industries, in which Sun Pharmaceutical Industries, India, is holding equity stake of 79.2 per cent, has registered strong growth in net profit during the second quarter ended September 2014. Taro's net profit went up by 49 per cent to $143.4 million from $96.3 million in the corresponding period of last year and its net sales also improved by 22 per cent to $251.8 million from $205.3 million. Its R&D expenditure declined slightly to $14 million from $15 million.
For the first half ended September 2014, Taro's net sales improved by 6.1 per cent to $381.1 million from $358.5 million in the similar period of last year. Its net profit moved up by 21.9 per cent to $189.5 million from $155.1 million. EPS worked out to $4.43 as against $3.46 in the last period. Its R&D expenditure increased to $29 million from $27 million. Recently it received US FDA approval for desonide lotion, 0.05per cent. With this ANDAs representing thirty products await FDA approval.
Taro has research, manufacturing, distribution and marketing operations in the US, Canada and Israel. In addition the company has marketing operations in the UK.