Ranbaxy Labs swings back to profit

Ranbaxy Laboratories Ltd has posted a net profit after tax, minority interest and share in profit of associates of Rs 477.7 crore for the quarter ended September 30, 2014 as compared to net loss of Rs 454.2 crore for the quarter ended September 30, 2013. The company’s total income has increased from Rs 2827.7 crores for the quarter ended September 30, 2013 to Rs 3277.87 crore for the quarter ended September 30, 2014.
 
According to Ranbaxy, sales were higher primarily due to exclusivity sales of Valsartan, which is indicated for the treatment of high blood pressure and heart failure, in the US during the quarter.
 
Commenting on the business results for the quarter, Arun Sawhney, CEO & Managing Director, Ranbaxy, said, “During the quarter, growth in base business was driven by India and Western Europe. In the US, we successfully launched Valsartan with 180 days exclusivity. Our focus continues to be on creating brands and providing differentiated products as future growth drivers.”
 
The company’s India business has recorded 12% growth in line with the Indian pharma market growth, and Ranbaxy expects to continue the momentum in the months ahead, said a company press release.