Ranbaxy 1st-qtr 2013 earnings plunge 90% as sales fall 34%

8 May 2013

India’s largest pharma company Ranbaxy Laboratories (BSE: 500359), which is majority owned by Japan’s Daiichi Sankyo, has posted first quarter 2013 financial results, showing the net income plunged 90% to 1.26 billion rupees ($23.4 million), while sales fell 34.2% to 24.40 billion rupees compared with the 2012 first quarter, when the company benefited from sales exclusivity in the USA for a generic version for a generic version of Pfizer’s all-time blockbuster Lipitor (atorvastatin).

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