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Ranbaxy clocks Rs 6.08 B profits for 2002
Friday, 17 January 2003, 20:30 IST
NEW DELHI: India's pharmaceutical major by sales Ranbaxy Laboratories Ltd has clocked 
6.08 billion profit after tax for the calendar year 2002, a rise of 131 percent over the previous year.
The company's net profits during the fourth quarter ending December 31 is 1.91 billion, up 323 percent, according to a company statement released here on the unaudited results approved by the board of directors Thursday.
During the year, Ranbaxy and its subsidiaries had net consolidated sales of 37.11 billion, an increase of 39 percent, with exports sales at 18.35 billion, registering 78 percent growth.
"The results have been very encouraging. We have been able to significantly improve our operational effectiveness and financial performance. A sound base has been established to enter into the speciality products segment in key developed markets," said D. S. Brar, CEO and managing director of Ranbaxy Laboratories Limited in a statement.
Major international markets like the U.S., Brazil and Britain contributed 62 percent of Ranbaxy's global sales with 84 percent growth.
The rest of the world markets also performed credibly with a growth of 17 percent.
"The U.S became the largest market for the company with sales of $296 million (an increase of 162 percent over the previous year) led by buoyant sales of Cefuroxime Axetil tablets which were in excess of $115 million. Other major products in the anti-infectives segment like Amoxicillin, Cefaclor, Cephalexin, Clindamycin and Minocycline also registered impressive gains, signifying the growing strength of the company in this segment of the U.S. market," according to the statement.
The company has finalized plans to launch branded formulations in the U.S. market soon.
The European markets recorded sales of $57 million, up 36 percent over the last year, while Britain remained the largest market with sales to the tune of $ 30 million on the strength of the first set of branded products being launched there in 2002.
Brazil became the third largest market in the second year of operation on the strength of increasing acceptance of generic products, the company stated.
Ranbaxy now ranks amongst the top five generic companies in Brazil recording sales of $32 million, up by 119 percent.
In line with the Indian pharmaceutical industry growth trends, the Ranbaxy registered a sales growth of 8.2 percent.
During the year the company reorganised its marketing and sales teams in India to reflect better alignment of products/ field deployment with the therapeutic area concept to bring synergies in marketing effort.
Among the groups, the chronic segment accounted for 33 percent of the sales in the country, while anti-infectives contributed 42 percent.
Launch of 29 new products/line extensions marked Ranbaxy's research and development efforts. Of the new products and line extensions, 20 comprised the chronic segment including three Anti-HIV products.
According to an ORG MAT study, Ranbaxy outperformed the market in the areas of anti-infectives, gastrointestinal and dermatological segments.
Ranbaxy has meanwhile filed two new drug applications (NDAs) in the U.S. for Metformin and Ofloxacin.
In India, Ranbaxy is soon likely to receive approval for RBx 7644 (Ranbezolid), an extended spectrum Oxazolidinone from the Drugs Controller General to commence Phase I clinical trials for both its oral and intravenous usage form.
The drug to be used for treating hospital-acquired infections is presently undergoing Phase I clinical trials in Britain.
Source: IANS
6.08 billion profit after tax for the calendar year 2002, a rise of 131 percent over the previous year.
The company's net profits during the fourth quarter ending December 31 is 1.91 billion, up 323 percent, according to a company statement released here on the unaudited results approved by the board of directors Thursday.
During the year, Ranbaxy and its subsidiaries had net consolidated sales of 37.11 billion, an increase of 39 percent, with exports sales at 18.35 billion, registering 78 percent growth.
"The results have been very encouraging. We have been able to significantly improve our operational effectiveness and financial performance. A sound base has been established to enter into the speciality products segment in key developed markets," said D. S. Brar, CEO and managing director of Ranbaxy Laboratories Limited in a statement.
Major international markets like the U.S., Brazil and Britain contributed 62 percent of Ranbaxy's global sales with 84 percent growth.
The rest of the world markets also performed credibly with a growth of 17 percent.
"The U.S became the largest market for the company with sales of $296 million (an increase of 162 percent over the previous year) led by buoyant sales of Cefuroxime Axetil tablets which were in excess of $115 million. Other major products in the anti-infectives segment like Amoxicillin, Cefaclor, Cephalexin, Clindamycin and Minocycline also registered impressive gains, signifying the growing strength of the company in this segment of the U.S. market," according to the statement.
The company has finalized plans to launch branded formulations in the U.S. market soon.
The European markets recorded sales of $57 million, up 36 percent over the last year, while Britain remained the largest market with sales to the tune of $ 30 million on the strength of the first set of branded products being launched there in 2002.
Brazil became the third largest market in the second year of operation on the strength of increasing acceptance of generic products, the company stated.
Ranbaxy now ranks amongst the top five generic companies in Brazil recording sales of $32 million, up by 119 percent.
In line with the Indian pharmaceutical industry growth trends, the Ranbaxy registered a sales growth of 8.2 percent.
During the year the company reorganised its marketing and sales teams in India to reflect better alignment of products/ field deployment with the therapeutic area concept to bring synergies in marketing effort.
Among the groups, the chronic segment accounted for 33 percent of the sales in the country, while anti-infectives contributed 42 percent.
Launch of 29 new products/line extensions marked Ranbaxy's research and development efforts. Of the new products and line extensions, 20 comprised the chronic segment including three Anti-HIV products.
According to an ORG MAT study, Ranbaxy outperformed the market in the areas of anti-infectives, gastrointestinal and dermatological segments.
Ranbaxy has meanwhile filed two new drug applications (NDAs) in the U.S. for Metformin and Ofloxacin.
In India, Ranbaxy is soon likely to receive approval for RBx 7644 (Ranbezolid), an extended spectrum Oxazolidinone from the Drugs Controller General to commence Phase I clinical trials for both its oral and intravenous usage form.
The drug to be used for treating hospital-acquired infections is presently undergoing Phase I clinical trials in Britain.
Source: IANS