Sanofi India reported standalone net profit of Rs 136.6 crore for the March quarter of FY24, down 28 percent from the year-ago period.
The India arm of the French pharma firm Sanofi reported a profit of Rs 190.4 crore in the same quarter of the previous year.
Revenue came in at Rs 732.4 crore, down 0.5 percent from the year-ago quarter of Rs 736.5 crore.
Exceptional item for the quarter ended March 31, 2024 includes personnel separation cost amounting to Rs 26.7 crore and a profit on sale of property amounting to Rs 25.5 crore offset by personnel separation cost amounting to Rs 7.7 crore.
During the quarter ended March 31, 2024, the company entered into a promotion and distribution agreement with Emcure Pharmaceuticals Limited for its cardiovascular and hospital business products and also entered into a promotion and distribution agreement with Cipla Limited for its central nervous system business products.
Recently, Sanofi India introduced its blockbuster diabetes product Soliqua following the approval of the Central Drugs Standard Control Organisation (CDSCO). Soliqua is a once-daily injectable blend of insulin glargine 100 Units/ml, a long-acting basal insulin, and lixisenatide, a GLP-1 receptor agonist. Priced at Rs 1,850 per pen, Soliqua help in managing type 2 diabetes.
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