Ranbaxy Laboratories Limited (RLL) has registered a 46.8 per cent increase in net profits in the first quarter ended March 31, 2001 to Rs 57.4 crore from Rs 39.1 crore in the corresponding period of previous year. The increase in profits was attributed to the licensing fee of Rs 23.3 crore received during the period under review. Sales rose by 18 per cent to Rs 445.7 crore this quarter from Rs 375.6 crore in the same period last year. Domestic sales at Rs. 218.4 crore (Rs.200.1crore) were up 9.1 per cent while exports sales soared to Rs.227.3 crore (Rs.175.5 crore) recording a growth of 29.5 per cent.
R&D expenditure was higher at Rs 16.6 crore compared to Rs15.7 crore -an increase of 5.7 per cent.
The impressive export sales growth was led by performances of both dosage forms (an increase of 30 per cent) and active pharmaceutical ingredients (APIs) (an increase of 29 per cent). Growth in dosage forms originated primarily from the company's international operations in the US, UK, Western Europe, Poland, China, Central America, Malaysia, Myanmar and the new entry into Brazil. The company achieved global consolidated sales of $ 12.6 crore, recording a growth of 19%.
The domestic performance softened in line with the overall market trend. The anti-infective segment also remained under pressure with lower growth rates. However, this was compensated by gains of new product launches in the fast growing segments such as CVS, CNS, drectile dysfunction, pain management and our recent entry into the new anti-diabetes segment.
For the year ended December 31, 2000, the company recorded sales of Rs 1745.9 crore ( '99 : Rs.1559.8 crore), with export sales at Rs. 811.2 crore ( '99 :Rs.732.4 crore) accounting for 46 per cent of total sales.
Profit before interest (net) and depreciation was Rs. 236.1 crore ( '99: Rs. 252.5 crore). Profit before tax was Rs 194.5 crore ( '99 : Rs. 210.4 crore) and profit after tax was Rs. 182.4 crore ( '99 : Rs. 196.9 crore). The Board recommended a dividend of Rs. 7.50 per share for the year ended December 31, 2000.
The equity share price is quoted at Rs500.90 up by Rs 23.20 over the previous closing. The price-earning ratio is estimated at 31.82
Ranbaxy's emphasis on innovative research programs comprising New Drug Discovery Research ( NDDR) and Novel Drug Delivery Systems (NDDS) continued with vigour. The once-a-day Ciprofloxacin molecule entered Phase III trials in the US and India. Permission has been filed in certain key markets.
Another product in our research pipeline, viz Rbx 2258 (BPH molecule) has now entered Phase II trials in India and Phase I trials stage in the UK. The early Phase II data will be available by the second quarter of 2001.
Ranbaxy has developed a new, once-a-day formulation of Ofloxacin (anti-bacterial - fluroquinolone), by using the unique gastro-retentive technology. The Company has completed the PKPD studies for 800mg and 400mg dosage forms and is scheduled to launch in India by the 4th quarter of 2001. The Company will be filing an IND in the US shortly.
Ranbaxy Laboratories Limited, manufactures and markets branded generic pharmaceuticals, bulk substances and intermediates. Ranbaxy's continued focus on R&D has resulted in several approvals in developed markets and significant progress in New Drug Discovery Research. The company, which has an expanding international portfolio of affiliates, joint ventures and alliances, has business operations in over 24 countries and manufacturing operations in six countries.