Companies

Sun Pharma clocks net profit of ₹4,541 cr on sales of ₹27,286 cr

Our Bureau Mumbai | Updated on January 24, 2018

Ball rolling The company has started integrating with Ranbaxy aftercompletion of the merger this year, says Sun’s MD Dilip Shanghvi

Performance impacted by Ranbaxy merger, says Shanghvi

In the year that saw Sun Pharmaceutical merge fellow drugmaker Ranbaxy into one entity, the company clocked consolidated net sales of ₹27,286 crore, and a net profit of ₹4,541 crore for the year ended March 31, 2015.

Sealing the deal

The company’s last quarter performance saw a net profit at ₹888 crore in the three months ended March 31, 2015, and net sales of ₹6,145 crore. The performance for the year and quarter under review were not comparable to the previous year because of the Ranbaxy deal getting sealed.

Sun’s Managing Director Dilip Shanghvi said that the company has started integrating with Ranbaxy after completion of the merger this year. “Our performance has been impacted due to various one-time charges, mainly on account of the Ranbaxy merger as well as due to price erosion for some of our products in the US. It also reflects the impact of supply constraints related to the on-going remediation efforts at some of our facilities.” Sun’s sale of branded prescription drugs in India for the three months ended March 2015 was ₹1,569 crore, and ₹ 6,717 crore for the full year. Its sales in the US were $488 million for the quarter, accounting for 49 per cent of total sales. Annual revenues from the US were $2,244 million accounting for 50 per cent of total sales, a note from the company said.

Research spend

The company said that its consolidated research spending for the three month period under review stood at ₹579 crore, or 9.4 per cent of sales. This includes significant investments on account of funding the clinical development of MK-3222, the psoriasis monoclonal anti-body in-licensed from MSD (US), it added. Its annual research spend stood at ₹1,955 crore or 7.2 per cent of sales.

Published on May 29, 2015

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