Ranbaxy Laboratories's net profit zooms four-fold at Rs 1,246 crore

NEW DELHI: India's largest drug maker Ranbaxy Laboratories's net profit jumped four fold to Rs 1,246 crore for the quarter ended March, buoyed by gains from two exclusive drug launches in the US. The company's sales also grew 55% to Rs 3,700 crore during the quarter, the company said

Sales from the company's North America region more than doubled to Rs 2,093 crore ($416 Mn) during the three month period from Rs 769 crore ($170 Mn) last year, driven by the launch of atorvastatin and amlodipine +atorvastatin.

In November, the company had launched atorvastatin, the generic version of the world's best selling drug Lipitor with a six month marketing exclusivity.

The company's CEO & Managing Director Arun Sawhney said, "The focus on key products and markets, while maintaining emphasis on further strengthening quality and compliance standards has had a positive impact on the performance of Ranbaxy during the Quarter. The Company is working towards creating a sustainable, profitable, growing business in the long run with differentiated, branded generics business at its base.""

During the quarter, the company also resumed exports to the US from its Indian facility. The company's share price surged 2.68% and is trading at Rs 507.