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HindustanTimes Mon,21 Apr 2014

Sun Pharma Q3 net up 32%

HT Correspondent, Hindustan Times  Mumbai, February 08, 2013
First Published: 21:18 IST(8/2/2013) | Last Updated: 21:20 IST(8/2/2013)

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.

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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.

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