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Sun Pharma In The News

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Sun Pharma Q3 net rises 32%

Sun Phar­ma posted a 32% rise in its net profit to Rs.881 crore for the third quarter, compared to Rs.668.3 croreayear ago, dri­ven by a 32 % rise in US sales. Net sales stood at Rs.2,852 crore, a growth of 33% over the same quarter a year ago. The US accounted for a 52 % of the company's total sales at $276 million.

Dilip Shanghvi, manag­ing director, said, "All our businesses continue to per­form in-line with our expec­tations. The recent approval of generic Doxil in the US re­flects our technological strengths in developing com­plex products."

The acquisition of DUSA and URL's generic business will further.

Sale of branded prescrip­tion formulations in India stood at Rs.788 crore for the third quarter, accounting for 27% of total sales. "Adjust­ing for the change in treat­ment of expected sales re­turns and treatment of discounts, the underlying growth was 19% compared to the third quarter last year and 20% for the first nine months ended December," the company said.

Formulation sales in rest of the world markets, out­side of India and the US, ac­counted for $73 million in Q3FY13, registering a growth of 31% (in dollar terms). "Excluding ex-US Taro sales, underlying sales growth in dollar terms in these markets was 58% for the third quarter," the com­pany said.