Oct. 26, 2009 (The Hindu Business Line) --
Mumbai, Oct.26 Pharmaceutical major Lupin posted a 39 per cent rise in net profit to Rs 160 crore for the quarter ended September 30, 2009, as against Rs 115 crore in the corresponding quarter a year ago.
Net sales grew 23 per cent to Rs 1,114 crore (Rs 908 crore).
Dr Kamal K. Sharma, Managing Director, said, “Lupin has the unique distinction of being amongst the fastest growing generics players in the US, Japan and South Africa and we also continue to garner a larger market share in these markets. We have successfully out-licensed a novel drug delivery platform. We also strengthened our brand business in the US with the acquisition of Antara from Oscient.”
Capital expenditure, net of expenditure on trade marks and licences, during the quarter was Rs 112 crore.
Formulation sales for advanced markets (the US, Europe and Japan) increased by 27 per cent to Rs 481 crore, contributing 43 per cent of overall net sales. Lupin has out-licensed US rights for its proprietary bio-adhesive technology for rifaximin to Salix Pharmaceuticals. (NASDAQ:SLXP)
India region formulations’ net sales grew by 18.5 per cent to Rs 346 crore (Rs 292 crore).
The company filed seven new abbreviated new drug applications (ANDA) during the quarter, taking the total cumulative filings to 98, of which 35 have been approved by the US Food and Drug Administration.
On Monday, Lupin stock on the BSE closed 1 per cent lower at Rs 1,239.
