India's Ranbaxy turns to profit, posts record results for 1st-qtr 2010

12 May 2010

India's Ranbaxy Laboratories, majority-owned by Japan's Daiichi Sankyo, reported record results for the quarter ended March 31, 2010, with consolidated net sales leaping 65% to $542 million. EBITDA) was 55% of sales at $298 million, compared with a loss of $201 million in the like, year-earlier quarter.

Operational EBITDA, excluding forex translations, was 42% of sales against break even in the first quarter of 2009. Profit after tax was $210 million versus a loss of $153 million. However, Operational PAT, excluding forex translations, was $143 million against loss of $5 million.

Commenting on the results for the quarter, Atul Sobti, chief executive and managing director of Ranbaxy, said: 'Solid growth in key geographies, along with optimal delivery value from first-to-file [FTF] opportunities in the USA, ensured that we achieved yet another quarter of strong operational performance. We also launched Project Viraat, a comprehensive program aimed at India leadership, in January.'

This article is accessible to registered users, to continue reading please register for free. A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.

Try before you buy

Free

7 day trial access

Take a Free Trial

All the news that moves the needle in pharma and biotech
Exclusive features, podcasts, interviews, data analyses and commentary from our global network of life sciences reporters.
Receive The Pharma Letter daily news bulletin, free forever.

Become a subscriber

£820

Or £77 per month

Subscribe Now

Unfettered access to industry-leading news, commentary and analysis in pharma and biotech.
Updates from clinical trials, conferences, M&A, licensing, financing, regulation, patents & legal, executive appointments, commercial strategy and financial results.
Daily roundup of key events in pharma and biotech.
Monthly in-depth briefings on Boardroom appointments and M&A news.
Choose from a cost-effective annual package or a flexible monthly subscription

The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed

Chairman, Sanofi Aventis UK