Net sales for the period has grown by 129 per cent to Rs 1257.1 crore, compared with the Rs 548.4 crore posted during the corresponding previous year quarter, as per the unaudited results.
Net profit for the year ended 2007-08 stood at Rs 1486.9 crore, 89.6 per cent higher than the Rs 784.2 crore posted in the corresponding previous year. Net sales for the year also grew to Rs 3356.5 crore, 57.14 per cent higher than the Rs 2135.9 crore posted in the corresponding previous year.
"We've achieved higher than expected sales and profit, built one of the strongest product pipelines, and begun to take calculated risks. This quarter, we've begun to see value creation from our intellectual property and NDDS capability. Our US performance complements strong numbers across all our business segments," said Dilip Shanghvi, chairman and managing director, Sun Pharmaceuticals.
Company's US performance was mainly powered by the launch of two products, generics versions of Protonix and Ethyol, which were launched 'at risk' by the company. Its US subsidiary, Caraco had posted fourth sales of $192 million, up 487 per cent from $33 million in the corresponding previous year quarter. For FY08, its sales reached $350 million, growing 199 per cent over last year. Sun and Caraco together have 53 drug approvals in the US and another 89 products are waiting for approval.
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Sales of domestic formulations, speciality prescription brands sold in India, were at Rs 1,476.2 crore, a growth of 25 per cent over the last year, contributing 43 per cent of total sales. For the fourth quarter, domestic formulations sales increased by 16 per cent.
Sun Pharma holds 3.3 per cent market share in the highly competitive pharma market, as per latest IMS ORG report and had launched 37 key products during the year.