Dabur Pharma net up 17%

BS 200 SCORECARD

Dabur Pharma during the third quarter ended December 31, 2004, posted a 16.6 per cent growth in its net profit at Rs 7.2 crore, up from Rs 6.2 crore during the corresponding period of the previous year.

The company's turnover increased by 4.4 per cent from Rs 54.2 crore to Rs 56.6 crore during the same period. The company recorded a growth of 11.6 per cent in its net profit at Rs 16.6 crore from Rs 14.8 crore for the nine months ended December 31, 2004.

Turnover, during the same period, grew by 11.5 per cent from Rs 167.2 crore to Rs 186.5 crore for nine months ended December 31, 2004. The company also announced that it has received USFDA approval for its bulk drug plant in Kalyani, West Bengal, for Metaxalone, a muscle relaxant.

"This is the first USFDA approval that the company has got for its manufacturing facility, an important milestone for our foray in the US market. Dabur Pharma has entered into a long-term supply arrangement with a US based Pharmaceutical Company for supplying Metaxalone from this facility which would be converted into formulation and sold in the US", said Anand Burman, chairman.

During the quarter, Dabur Oncology, a 100 per cent subsidiary of Dabur Pharma, has filed its first ANDA for an oncology formulation with the US FDA. The company plans to strengthen its presence as a global oncology player with a strong focus on regulated markets.

"Our formulation manufacturing facility at Baddi in Himachal was also approved by regulatory authorities of Brazil, Columbia and Eqypt during this quarter", said Ajay Vij, COO, Dabur Pharma.