Ranbaxy's 3rd-qtr net profit soars 48%

Third-quarter 2007 profits at New Dehli, India-based drugmaker Ranbaxy Laboratories jumped 48% to 2.07 billion rupees ($52.6 million), equivalent to earnings per share of 4.35 rupees. The firm attributed the gains to its continued good sales performance in emerging markets such as the Ukraine, South Africa and Brazil, which increased 17% in the period, as well as the positive impact of exchange rates.

Ranbaxy's sales for the quarter grew to 16.52 billion rupees, up 15% on the comparable period last year. The firm's operations in the USA contributed revenues of $102.0 million, up 7%, with its leading dermatology product, Sotret isotretinoin capsules USP, achieving a market share of around 48%.

European sales contributed $78.0 million, up 8% on the corresponding quarter in 2006, while revenues from Asia and countries in the Commonwealth of Independent States grew 12% to $139.0 million. Turnover in the firm's home market, meanwhile, reached $81.0 million, an increase of 15% on those achieved in the equivalent three months last year.