Pharmaceutical major Ranbaxy Laboratories on Tuesday posted the highest ever consolidated profit of Rs.960.58 crore for the quarter ended March 31, 2010, on the back of exclusive marketing rights for one of its drugs in the U.S. The pharmaceutical major had incurred a loss of Rs.767.33 crore in the corresponding quarter a year ago. Total income of the company during the quarter soared by 65 per cent to Rs.2,490 crore from Rs.1,558 crore in the same period last fiscal. Talking to newsmen after the announcement of the results, Ranbaxy Laboratories CEO Atul Sobti said, “solid growth in key geographies along with optimal delivery value from first-to-file opportunities in the U.S. ensured that we achieved yet another quarter of strong operational performance.''
In the U.S., the largest pharmaceutical market in the world, Valacyclovir — a first-to-file product launched in last quarter of 2009 — achieved a market share of 60 per cent. The company reported over two-fold jump in sales at $264 million (Rs.1,210 crore) in the North American market as a result of market exclusivity. In the quarter under consideration, the Indian pharmaceutical business of the company recorded sales of $75 million (Rs.345.20 crore), a growth of 6 per cent. “Ranbaxy continued to be the second largest company with 4.9 per cent market share in the Indian pharmaceutical market,'' he said.
In Europe, the company recorded sales of $67 million, a 10 per cent growth, driven by strong recovery in Romania. However, the company recorded a decline of 38 per cent in sales in the Asia-Pacific region at $14 million due to divestment of certain businesses in Vietnam and China. Total sales in Latin America during the quarter stood at $19 million, a jump of 40 per cent.
