Ranbaxy Q3 pat up 651% at Rs 1404 mn

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India

 

The India region continued to perform well recording sales of USD 79 Mn during Q3, a growth of  13% over the corresponding period of last year. In rupee terms sales stood at Rs 3640 Mn, + 20%. For YTD Sept., sales were at   USD 208 Mn, up by 17 %. In rupee terms sales were at Rs 9477 Mn. + 22%.

 

Ranbaxy continued to grow faster than the market and as a result, in June 2006, achieved the Number 1 position in the domestic pharmaceutical market for the first time ever and has retained it over three consecutive months. Consequently, on a Moving Quarter basis (June-August 2006), Ranbaxy was the market leader capturing a market share of 5.27% against 5.07% over the corresponding period last year(ORG-IMS report of August '06).

 

Ranbaxy now has 19 brands in the Top-300 brands of the industry with 9 of its brands featuring amongst the Top-100. Amongst the new introductions during the last one year, 3 of Ranbaxy's brands (Oframax Forte, Volix and Faronem) feature in the Top-30 (ORG-IMS report of August '06).

 

Novel Drug Delivery System (NDDS) products constituted 8.49% (Moving Quarter August, 2006) of the India sales. Ranbaxy continued to maintain its leadership position in the NDDS segment with 8.17% market share in this segment. The new segment consisting of the Penem portfolio (Cilanem, Faronem), garnered 60.4% share for the YTD Sept. period.

 

The Company launched Avessa (Formoterol + Fluticasone) inhalation capsules for the treatment of Asthma, a unique combination that has been launched for the first time in the world, combining the fastest acting Long Acting Beta 2 Agonist Formoterol and the most potent inhaled corticosteroid Fluticasone. Soliten (Solifenacin), for the management of chronic urological disorder has also been introduced in India for the first time.

 

During the quarter, the Company entered into two in-licensing agreements. A strategic in-licensing agreement was signed with leading French Company, Ethypharm LL India (Ethypharm), for a Fixed Dose Combination of Fenofibrate Micronized 160 mg and Atorvastatin 10 mg.  Ranbaxy will market the product under its brand name STORFIB(tm).

 

In its effort to provide affordable medicines for HIV patients in India, Ranbaxy entered into a licensing agreement with Gilead Sciences, Inc., covering manufacturing and marketing of Active Pharmaceutical Ingredient (API) and formulations containing Tenofovir Disoproxil Fumarate (TDF).

 

The Company's Global Consumer Healthcare business recorded sales of USD 5 Mn for the quarter, a growth of 17% over the previous year. (YTD Sept, sales of  USD 14 Mn, an increase of 19%).The  key brand, Revital, continued to perform well, recording a healthy growth of 39% over last year and currently commands a market share of   80.3  % in its respective segment ( Source: ORG - SSA  Aug 06 )

 

Rest of the World (RoW)

 

The Company's operations in other parts of the world .i.e. Asia Pacific, Middle East, Japan, Rest of Latin America & Africa continued to perform well. Japan saw the launch of two new molecules .i.e. Clarithromycin 50 mg, 200 mg tablets and Terbinafine 125 mg tablets. Clarithromycin is an antibiotic and Terbinafine, an anti fungal having a market size of USD 400 Mn and USD 300 Mn respectively, for the above dosage forms. With these,  the total number of products launched in Japan to date stand at 3. 

 

 Mergers & Acquisitions

 

Continuing its focus on inorganic growth opportunities, the Company successfully concluded the acquisition of the Mundogen generic business of GlaxoSmithKline (GSK), in Spain, during the quarter. Earlier during the year the Company had also made acquisitions in Italy, Belgium & Romania. Mundogen is the Company's fifth acquisition in Europe in the past 15 months and the second in Spain, reinforcing its focus to expand and grow in the fast emerging European markets. The acquisition of Mundogen Farma S.A. will further strengthen the Company's product basket and distribution reach in the Spanish generics market.

 

As a part of its inorganic strategy to increase its therapeutic width, the Company made a strategic investment in Zenotech Laboratories Limited, Hyderabad, India. Zenotech is a specialty generic injectables company with a biotech core.  Zenotech's predominantly high value injectables portfolio serves niche therapy areas like oncology, anesthesiology, gynaecology, and neurology. This strategic stake would enable the Company in gaining access to the Oncology therapeutic area for a host of key countries.

 

During the quarter, in order to meet its future growth objectives, Ranbaxy has also expanded its in-house API manufacturing capacities by acquiring Cardinal Drugs, based in Gwalior, India.

 

On an overall basis, the Company has concluded 8 M&A deals in USA, Europe & India in the past 15 months.

 

Research & Development

 

The Company continues its emphasis on innovative research programmes in the New Drug Discovery and Novel Drug Delivery Systems (NDDS) streams.

 

The Phase II Dose Range finding studies of RBx 11160 (anti malaria molecule) are ongoing in Thailand, India & Africa.   The Rising Single Dose Study with RBx 11160 maleate and Piperaquine Phosphate (the combination product) will be initiated in October 2006, in Switzerland. The anti malaria drug, RBx 11160, is being developed under a collaborative research programme with Medicines for Malaria Venture (MMV), Geneva.

 

Ranbaxy Laboratories Limited, headquartered in India, is an integrated, research based, international pharmaceutical company producing a wide range of quality, affordable generic medicines, trusted by healthcare professionals and patients across geographies. Ranbaxy's continued focus on R&D has resulted in several approvals in developed markets and significant progress in New Drug Discovery Research. The Company's foray into Novel Drug Delivery Systems has led to proprietary "platform technologies", resulting in a number of products under development.  The Company is serving its customers in over 125 countries and has an expanding international portfolio of affiliates, joint ventures and alliances, ground operations in 49 countries and manufacturing operations in 8 countries.  

 

Sourced From: Ranbaxy Laboratories Ltd