Alembic Pharmaceuticals, a Rs.3,100 crore plus pharma major from Vadodara, has posted strong growth in consolidated net profit during the third quarter ended December 2017 to Rs.130.60 crore from Rs.86.55 crore in the corresponding period of last year. Its net sales increased by 8.1 per cent to Rs.840 crore from Rs.777 crore. With higher profit, EPS worked out to Rs.6.93 from Rs.4.59 in the last period.

Pranav Amin, managing director, said, “The Indian branded business recovered showing a good growth. The US generics business continues to do well as we pick up market share leading to higher volumes. Alor, our joint venture for dermatology products, filed its first ANDA.”

Its international generics business revenue improved to Rs.311 crore from Rs.303 crore. Its US sales of generics increased to Rs.237 crore from Rs.  227 crore. Its domestic formulation sales grew by 14 per cent to Rs.349 crore from Rs.307 crore. The numbers re not strictly comparable due to GST treatment. API sales moved up by 8 per cent to Rs.180 crore from Rs.167 crore.  

The R&D expenditure declined to Rs.98 crore from Rs.121 crore in the last period. It received one ANDA approval during the December quarter and its cumulative total reached at 63 ANDA approvals. The company filed 4 ANDA and its cumulative ANDA filings reached at 108 (119 with Orit acquisition.). It launched two new products in US.

For the nine months period ended December 2017, Alembic's net sales declined by 4.8 per cent to Rs.2,277 crore from Rs.2,393 crore mainly due to lower international sales, which decline by 11 per cent to Rs.854 crore from Rs.964 crore in the last period. Its domestics sales remained stagnant at Rs.970 crore and API sales declined by one per cent to Rs.453 crore from Rs.459 crore. However, its net profit increased only by 2.9 per cent to Rs.319 crore from Rs.310 crore.