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By Archi Damania, CNBC-TV18
Caraco has announced its third quarter numbers. Its Q3 net sales declined 32% at USD 55.7 million versus USD 81.9 million, YoY. Decrease on the sale of a Para IV product (pantoprazole) contributed to the lower sales.
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Pantoprazole was expected to contribute about $ 50 million in this quarter.
Caraco is a 76% US subsidiary of Sun Pharma.
In the Q1 FY09, sales was at $108.3 million and Q2 FY09 sales reported at $122.2 million.
Pantoprazole
Pantoprazole was launched “at risk.”
This product remains under litigation.
Sun Pharma “We will continue to assess our level of risk that we are comfortable with and once we cross that threshold, we will have to weigh our options”
Sun Pharma earlier expectation - Q3FY09 YoY
Net Sales up 42% at Rs 1140 crore versus Rs 803 crore
Results will be out on January 30
Detailed break up of Pantoprazole are not available but Now Analysts expect net sales lower by about Rs 100 crore – Rs 150 crore
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Today's Special Column
with Kishore Biyani
Future Group and the MD of Pantaloon Retail (India) Limited , Group CEO
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