Riding on the back of robust sales growth across the globe, drug maker Ranbaxy Laboratories on Tuesday said its consolidated profit after tax had gone up five-fold to Rs. 1,496.80 crore for the year ended December 31, 2010 from Rs. 296.49 crore in the 12 months ended December 31, 2009.
“We have had a strong year attributable in large measure to the robust revenue growth in our key geographies and the realisations from our first-to-file (FTF) opportunities, in the U.S.,” Ranbaxy Managing Director Arun Sawhney said in a statement here.
Total income rose to Rs. 9,380.95 crore from Rs. 7,986.57 crore in the last year.
The board recommended a dividend of Rs. 2 per share for the year ended December 31, 2010. Despite continued challenges in the US market, the company launched its FTF product Donepezil Hydrochloride tablets 5 mg and 10 mg with 180 days exclusivity in the fourth quarter of 2010. The USFDA grants FTF status to a company for a product if it is the first to successfully apply and get approval to launch a generic copy of a patented drug.
During 2011, the company expects to achieve base case sales of nearly Rs.8,400 crore. Base case sales exclude revenue from the possibility of exclusive sales they could get for being the first to bring a generic drug to market. The company's global sales in 2010 stood at Rs. 8,550.70 crore reflecting a growth of 23 per cent.
Emerging markets accounted for 50 per cent of sales during the year, while developed markets contributed 44 per cent. Sales in North America stood at Rs. 3,022.6 crore for the year. In the U.S., the company posted sales of Rs. 2744.8 crore.