[india-drug] Profits And Drug Companies

["Dr Gopal Dabade" <dabadedr@yahoo.com>]

Profits And Drug Companies
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15 Drug Makers Hit Paydirt In Q3 
THE INDIAN EXPRESS
Alok Sharma 
Posted online: Saturday, February 17, 2007 at 0000 hrs IST 
New Delhi

The full article can be downloaded from: http://www.indianexpress.com/printerFriendly/23496.html
  
Riding impressive exports and generics sales growth in key markets, the average net profit of India?s top 15 drug makers jumped more than 100 per cent in the quarter ended December 31, 2006, up from Rs 695 crore in Q3 of the previous year, to Rs 1,420 crore. In comparison, the net sales of these companies grew 30.5 per cent to Rs 6,722 crore, from Rs 5,153 crore. 
   
  The strong financial performance was also attributed to acquisitions, strategic marketing tie-ups and commissioning of plants in tax-free zones. 
   
  Hyderabad-based Dr Reddy?s Laboratories? net profits for the quarter went up by 199 per cent to Rs 187.90 crore from Rs 62.80 crore. Other companies also enjoyed similar increases. Aurobindo Pharma was up 129.6 per cent (Rs 60.1 crore from Rs 26.1 crore), Ipca Laboratories over 1,200 per cent (Rs 34.84 crore from Rs 2.67 crore) and Panacea Biotec 422.2 per cent (from Rs 27.2 crore from Rs 5.2 crore). 
   
  Similarly, net profit of Ranbaxy Laboratories Ltd went up 167 per cent, Sun Pharmaceuticals 36 per cent, Nicholas Piramal India 82.4 per cent, Biocon 44.9 per cent and Glenmark Pharmaceuticals 74.4 per cent. 
   
  Cipla and Alembic were two companies in the list that witnessed single-digit growth in their net profits that was up by 5.2 per cent and 5 per cent, respectively. Orchid Chemicals and Pharmaceuticals was the only company in the top order that suffered 2.2 per cent decline in its profits during the quarter under review. 
   
  Domestic companies with significant contribution from the US were eyeing improved overseas sales as drugs with annual sales of $30 billion were likely to go off patents in the next two years, an analyst said. 
   
Biocon to invest Rs 1,000 cr 
HYDERABAD: India?s largest biotechnology firm, Biocon plans to invest Rs 1,000 crore to set up a bio-pharma plant in Andhra Pradesh, a government statement said on Friday. The plant will be built in the pharmaceutical special economic zone near the port city of Visakhapatnam. Andhra Pradesh chief minister Y S Rajasekhara Reddy handed over the allotment letter for the land needed to build the plant to Biocon chairperson Kiran Mazumdar Shaw, the statement said ?Reuters
   

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Dr Gopal Dabade,
57, Tejaswinagar
Dharwad 580002 INDIA