Sun Pharma Q3 Cons net profit up 28% at Rs 408 cr

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Sun Pharma Q3 Cons net profit up 28% at Rs 408 cr

Sun Pharmaceutical Industries has declared its third quarter results. The consolidated net sales were up 14% at Rs 918.27 crore versus Rs 803 crore on YoY basis. Its consolidated net profit was up 28% at Rs 408 crore versus Rs 318 crore on YoY basis.

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Sun Pharmaceutical Industries has declared its third quarter results. The consolidated net sales were up 14% at Rs 918.27 crore versus Rs 803 crore on YoY basis. Its consolidated net profit was up 28% at Rs 408 crore versus Rs 318 crore on YoY basis.

The company's operating profit went up at Rs 413 crore from Rs 354 crore and OPM stood at 45% versus 44%.

India formulations grew 15% YoY, which contributing 46% of total sales. 

Its US subsidiary Caraco has revised its full year sales guidance downwards to that of level of sales achieved last year i.e. $350 million. Caraco sales were below estimates, but base business growth is strong.

Sun Pharma holds 3.5% market share in the highly competitive pharma market, as per latest IMS ORG report. 9 key products were launched during the quarter, taking the total for the year so far to 25. 

ANDA update:

During Q3, ANDAs for 13 products were filed, of which 11 were from Sun Pharma, and 2 from Caraco. For the first 9 months of FY09, ANDAs for 28 products have been filed against a guidance of 30 for the entire year.

ANDAs for 6 products from Sun Pharma have been approved in Q3. Now between Sun Pharma and Caraco Pharma, ANDAs for 67 products are approved including an approval for Hydrocodone + Acetaminophen, its first controlled substance formulation from the Cranbury plant.

With this, ANDAs for 103 products await USFDA approval, including 7 tentative approvals. These products are expected to feed our US generic business in the years ahead.