Nov 4 (Reuters) – Indian drugmaker Aurobindo Pharma reported a nearly 33% rise in second-quarter profit on Wednesday, led by strong demand and volume gains in its US market. Here are more details: • Consolidated profit after tax rose to 11.26 billion rupees ($118.89 million) in the quarter ended September 30, from 8.48 billion rupees a year […]
Health
India’s Aurobindo Pharma’s quarterly profit rises by a third on strong US demand
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Nov 4 (Reuters) – Indian drugmaker Aurobindo Pharma reported a nearly 33% rise in second-quarter profit on Wednesday, led by strong demand and volume gains in its US market.
Here are more details:
• Consolidated profit after tax rose to 11.26 billion rupees ($118.89 million) in the quarter ended September 30, from 8.48 billion rupees a year ago
• The drugmaker benefited from the acquisition of generic pharmaceutical company Lannett and an injectables ramp-up in the US market
• The market accounted for 44% of consolidated revenue during the quarter
• Revenue in its US formulations segment increased 25% year-on-year to 45.55 billion rupees, helped by the launches of 10 new drugs
• Overall revenue grew 24% to 102.63 billion rupees
($1 = 94.7100 Indian rupees)
(Reporting by Kashish Tandon and Anushka Rajvedi in Bengaluru; Editing by Sahal Muhammed)