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Ranbaxy Q1 PAT up 46.8 pc

Our Bureau

NEW DELHI, April 30

RANBAXY Laboratories Ltd posted a Q1 sales of Rs 445.7 crore for the quarter ended March 31, 2001. This was up 18.7 per cent from the corresponding quarter's Rs 375.6 crore.

Domestic sales were up 9.1 per cent, at Rs 218.4 crore from Rs 200.1 crore, while exports recorded a 29.5 per cent growth at Rs 227.3 crore from Rs 175.5 crore in the corresponding year.

The profit after tax at Rs 57.4 crore was up 46.8 per cent from the previous year's Rs 39.1 crore. R&D expenditure was at Rs 16.6 crore, as compared to the previous year's Rs 15.7 crore.

With novel drug delivery systems being a thrust area for the company, Ranbaxy on Monday also announced that its once-a-day formulation of Ofloxacin, developed using the gastro-retentive technology, was in phase III of clinical trials and subsequent to de sired results, would be marketed in the country in the fourth quarter.

Mr Brian Tempest, President, told newspersons, following the company's board meeting here on Monday, that the growth in export sales was driven by 30 per cent increase in the dosage forms and a 29 per cent increase in Active Pharmaceutical Ingredients (A PI).

Growth in dosage forms resulted from the company's international operations, particularly in the US, the UK, Western Europe, Poland, China, Central America, Malaysia, Myanmar and its recent foray into Brazil. He pointed out that there was an increasing f ocus on these markets and on the formulations segment.

The company recorded a sales of Rs 1,745.9 crore, for the year ended December 31, 2000. This stands compared to Rs 1,559.8 crore in the same period last year.

The company's exports, at Rs 811.2 crore, accounted for 46 per cent of its total sales and was higher than the exports clocked last year at Rs 732.4 crore.

Profit after tax (PAT) was at Rs 182.4 crore, up from last year's Rs 196.9 crore. The company's board also recommended a dividend of Rs 7.50 per share for the year December 31, 2000.

According to Mr Malvinder Mohan Singh, Director- Global Licensing and business development, the NDDS product would be Ranbaxy's first NDA filing in the US. He said they would look to market the brand on their own strength in select markets, but would co- market the product with others. He added that the company was working on an array on NDDS products in anti-infective and cardiovascular segments.

The market size for Ofloxacin was $260 million and the key markets were the US, France, India, Germany, Mexico and China. The company expects to to complete its NDA filing in QI 2003 and subsequently launch in the US and Europe market in Q4 of the same year.

Related links:
Ranbaxy Q4 net at Rs 48 cr

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