The overseas operating subsidiaries and affiliates of Ranbaxy Laboratories have recorded a profit of $4.1 million in 2001 against a net loss of $1.2 million in 2000.
The overseas subsidiaries recorded a quantum jump in turnover from $158.8 in 2000 to $248.5 million in 2001. The profit before tax was $6.4 million in 2001 against a loss of $1 million in 2000.
The major contributors for the overall global sales of the company were the two wholly owned subsidiaries of the company in the US -- Ranbaxy Pharmaceuticals Inc (RPI) and Ohm Laboratories Inc.
RPI recorded a profit of $3.2 million during the year against $0.6 million in 2000 and more than doubled its sales from $42 million in 2000 to $88.9 million in 2001. Ohm Laboratories Inc posted a turnover of $43.1 million in 2001 against $21.1 million in 2000 and its profits shot up to $2.4 million from $0.7 million in 2000.
The year was a momentous one for the company's operations in the US, the world's largest pharmaceutical market. The two wholly owned subsidiaries of the company in the US together crossed $100 million sales in December last year.
Ranbaxy was also ranked as the fastest growing generic pharmaceutical company in the US.
The company's UK subsidiary, Ranbaxy UK Ltd (RUKL), recorded a turnover of $24 million.
A growth rate of 11 per cent was achieved by RUKL despite depreciation of local currency and severe price controls that reduced the margins of all major generic players.
Ranbaxy Farmaceutica, the company's majority-owned subsidiary in Brazil, also performed well with a global turnover of $14.1 million in its first full year of operation.
Following the acquisition of the generic business from Bayer, the company's subsidiary in Germany, Basics GmbH, also completed the first full year of operation and recorded a turnover of $ 5.7 million and a net loss of $ 0.9 million.
Ranbaxy (Guangzhou China) Ltd saw a slowdown due to reimbursement price uncertainties and government directives on clubbing requirements and inviting tenders. The company recorded a turnover of $11.3 million in 2001 and a net loss of $0.4 million.
