Sun Pharmaceutical Inds on Friday announced a 32% year-on-year growth in consolidated net profit to Rs. 881.30 crore for the quarter ended December from Rs. 668.30 crore in the same period a year ago, driven by strong sales in the United States market.
Sales of branded prescription
formulations in US rose 44% to Rs. 1,495 crore from Rs. 1,040 crore in the same quarter previous year. The US sales accounted for 52% of total sales during the quarter.
"All our businesses continue to perform in-line with our expectations. The acquisition of DUSA and URL's generic business will further strengthen our presence in the US," said Dilip Shanghvi, MD, Sun Pharmaceutical.
US-based Dusa, a dermatology company, was acquired by Sun pharma for around R1,250 crore last year. Caraco Pharma, Sun Pharma's wholly-owned subsidiary, also announced the acquisition of URL Pharma Inc's generic business in US, during the quarter.