Not eyeing any acquisition in France: Ranbaxy

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Not eyeing any acquisition in France: Ranbaxy

Ranbaxy has declared its third quarter results. CEO and MD of Ranbaxy, Malvinder Singh says the company is on track to meet CY06 OPM guidance Of 16%. discussing the international markets, he says the company's US sales grew by 25% to USD 96 million.

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Ranbaxy has declared its third quarter results. The company's Q3 net profit was up at Rs 140 crore from Rs 18.4 crore. Its consolidated revenues were up at Rs 1,640.4 crore from Rs 1,446.4 crore.

The company's CEO and MD Malvinder Singh says the company is on track to meet CY06 OPM guidance of 16%. Discussing the international markets, he says the company's US sales grew by 25% to USD 96 million. But he says the pricing pressure there would continue. Also, the company's Romanian business grew by 49%.

Regarding the ANDAs, Singh says nine ANDA filing have been done in Q3, and there would be more in Q4.

Q: Your margins have come up a bit from 18% last quarter to 16.4% this quarter. But are you on track for your overall guidance of 16% OPMs?

A: Yes, we are very much on track. I think we have had very strong 23% growth in dollar terms. In terms of topline, we have grown our gross margins by 3% points and our EBITDA margins have significantly improved. Costs are very much under check and there's overall topline growth, good margin expansion, which is very much on track.

Q: How has your performance in the US market been? How much did Zocor kick in specifically and are those numbers in line because we were expecting more than USD 100 million from US sales?

A: US sales is at USD 96 million revenue for the quarter. We have had a 25% growth in the US market and this has been the third consecutive quarter, where we have continued to see the US market growing in terms of topline and market check. We certainly believe that, this would be carried on in the next quarter as well.

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