Ranbaxy posts $210 mn net profit
By IANSTuesday, May 11, 2010
NEW DELHI - Pharma major Ranbaxy Laboratories Tuesday reported a consolidated net profit of $210 million (Rs.963.1 crore) in the January-March quarter of 2010 against a loss of $153 million (Rs.761 crore) in the corresponding period last year.
“Solid growth in key geographies, along with optimal delivery value from first-to-file opportunities in the United States, ensured that we achieved yet another quarter of strong operational performance,” said Atul Sobti, the company’s chief executive.
The firm’s consolidated net sales grew by 65 percent to $542 million (Rs.2,490 crore) in the quarter from $313 million (Rs.1,558 crore) a year ago.
Sobti said the company will launch anti-diabetic drug Actos in the US by 2012.
Ranbaxy, majority owned by Japan’s Daiichi Sankyo, had settled litigation with Japanese firm Takeda Pharmaceutical over a generic version of the medicine and received a non-exclusive royalty free licence for its US patents covering Actos.
