Alembic Pharmaceuticals, a Rs.2,000 crore plus pharma company from Vadodara, has announced impressive financial performance during the second quarter ended September 2015 and its consolidated net profit went up sharply by 274 per cent to Rs.288.90 crore from Rs.77.27 crore in the corresponding period of last year on account of strong growth in sales. Its consolidated net sales increased by 84.5 per cent to Rs.1,008 crore from Rs.546 crore. With strong growth in profits, EPS increased to Rs.15.32 as against Rs.4.10 in the last period.

The sales of generic in international market increased by 342 per cent to Rs.559 crore and its API business improved up 43 per cent to Rs.137 crore. Its sales of branded formulations in India reached at 285 crore. Its specialty segment grew by 21 per cent. However, the sales of acute segment declined by 9 per cent. Within specialty segment cardiology, antidiabetic and gynaecology grew impressively by 34 per cent, 31 per cent and 26 per cent respectively. The company received approval for 2 ANDA during the quarter under review and it filed 3 ANDAs, taking cumulative ANDA filings at 71. Further it filed 2 DMF, taking cumulative DMF filings at 75.

Commenting on the performance, Shaunak Amin, joint managing director, said, “We have seen exceptional growth due to the Aripiprazole Day 1 launch in the US. Our facilities have been in compliance and we have received 9 ANDA approvals this year.”

For the first half ended September 2015, Alembic's consolidated net sales increased by 52.9 per cent to Rs.1,590 crore from Rs 1,040 crore in the similar period of last year. Its net profit moved up by 153 per cent to Rs.358.77 crore from Rs.141.94 crore. Its R&D expenditure increased sharply by 108 per cent to Rs.125.90 crore from Rs.60.62.