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Sun Pharma In The News

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US business, branded generics boost Sun Pharma Q4 numbers

 

Sun Pharmaceutical Industri­es posted net sales of Rs 2,330 crore for the three months ended March 31, a growth of 59 per cent over same quarter last year. The company regis­tered a net profit of Rs 820 crore, equivalent to 35 per cent net margin, the company said.
 
The company's branded generic sales in India stood at Rs 877 crore, up 49 per cent over the fourth quarter last year. Its US finished dosage sale — at $202 million — grew by 66 per cent over Q4 last year.
 
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The company registered net sales of Rs 8,006 crore, a growth of 40 per cent over the previous year. Its net profit was Rs 2,587 crore, equivalent to 32 percent net margin. Its India branded generic sales stood at Rs 2,915 crore, up by 22 per cent over the same pe­riod last year.
 
The US finished dosage sale is at $725 million, a growth of 49 per cent over the same period last year. The company's financials include its Israeli subsidiary, Taro's numbers for the cur­rent quarter and full year which were included only for part of the year in the previ­ous year's financials. Taro has further clarified that the increase in sales and profits this year may not be sustainable as these were largely a result of price increases on select products in the US market, Sun added.
 
Meanwhile, Sun Pharma has appointed Mr Israel Ma-kov as Chairman of its board of directors, making clear the Mumbai-based drug-maker's global intentions.
 
Mr Makov was the former President and Chief Executive of Israeli generic drugs-major Teva Pharmaceutical Industries Ltd, between 2002 and 2007. He is widely cred­ited with Teva's emergence as a global company and a world leader in generic pharmaceuticals, a statement from Sun said.
 
Mr Makov comes with the knowledge and experience of globalising businesses suc­cessfully, said Mr Dilip Shanghvi, Managing Director, of Sun Pharma. "As Sun Pharma continues to rapidly expand its presence world­wide, I am sure that we will benefit immensely from his experience," he added.
 
On his appointment, Mr Makov too pointed out that Sun Pharma was poised for substantial global expansion.