Mumbai-based Sun Pharma achieved net profit of Rs. 70.4 crore for the quarter ended December 2003, a growth of 26.1 per cent compared to Rs. 55.8 crore for the corresponding period last year. The company’s turnover for the same period increased to Rs. 247.3 crore, a growth of 13.5 per cent compared to Rs. 218 crore, a year ago.

For the nine months ending December 31, 2003, PAT increased 21.6 per cent to Rs 191.2 crore compared to Rs. 157.2 crore, a year ago. Its turnover increased by 12 per cent to Rs 699.8 crore compared to Rs. 624.6 crore, a year ago.

Sun Pharma’s market share is in excess of 3.08 per cent in November 2003, up by 0.30 per cent from two years ago (AC Nielsen ORG Retail Chemist Audit, November 2003, 2001).

The company is doing NCE related research in three specific therapy areas. It is also working on NDDS drug research. The new 16 acre R&D campus in Baroda with 200,000 sq ft research area is nearing completion and will commence partial operations this year. Construction at the Mahakali R&D centre site in Mumbai is also progressing as planned.

The company’s US subsidiary Caraco Pharm Labs recently announced $45 million sales for 2003, and a projection of 20-25 per cent growth for the next year, with seven more ANDA filings to be made.

Dilip Shanghvi, chairman and managing director said, “We are glad with continuing growth in our international dosage form business and the filings for bulk actives in the regulated market. With these long term plans firming up, and the domestic formulations business continuing to show growth, we remain confident of meeting our topline projections for the year. The highest priority remains research and delivering on the goal we have set for ourselves for 2005.”