Sun Pharma posts Rs 2,277 cr Q4 loss over settlement of pending US lawsuits

Provides for the settlement charges, says adjusted profit for Q4FY22 at Rs 1582 cr, up 18% YoY after excluding exceptional items of Rs 3,935.7 cr and one-time tax gain of Rs 76.4 cr

India’s largest drug major Sun Pharmaceutical Industries posted a net loss of Rs 2,277 crore for the fourth quarter of the financial year 2021-22 on account of settlement charges of pending litigations in the US, restructuring operations in some countries. The consolidated sales from operations came at Rs 9,386.1 crore, an 11 per cent year-on-year rise.

The company guided for high single digit to low double digit topline growth in FY23, and has said its research and development spend would be about 7-8 per cent of the sales in FY23. About 25 per cent of R&D is for specialty products.