Ranbaxy back in black in fourth quarter as US sales soar

26 February 2010

India's biggest pharmaceutical company Ranbaxy Laboratories has reported a profit of $106m for the December quarter, up from a $147 loss in the same three months last year. This was due to a strong performance in the US, where sales jumped by 78% to $164m, compared to an overall sales increase of 25% to $490m.

Chalk that up to a generic version of GlaxoSmithKline's anti-herpes drug Valtrex, said Aarthisundari Jayakumar of Alchemy Share & Stock Brokers. Ranbaxy launched the drug in late November with 6-month marketing exclusivity in the US. The strengthening of the rupee against the dollar also helped.

The overall result exceeded expectations largely thanks to Valtrex, agreed Sarabjit Nangra, vice president of research at Mumbai's Angel Broking; but 'sales in Africa and Russia continue to be under pressure. They need to shore up growth in other regions as well.'

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