GSK announced its financial results for the first quarter, ending March
31, 2011. The overall sales increased by 11.4 percent and net sales of
the pharmaceuticals business witnessed a rise of 12.4 percent, while
profit after tax grew by 16 percent.
Marketing approvals were also received for two innovative products
including, Votrient, which can be used for treating renal carcinoma and
Revolade, which can be used to cure platelet depletion. GSK expects to
launch these products in the ensuing quarter. GSK Pharmaceuticals is a
subsidiary of GlaxoSmithKline plc, one of the world’s leading
research-based pharmaceutical and healthcare companies.
Jubilant reports Q4 profit of 61 crore
Jubilant Life Sciences reported a consolidated net profit of
crore for the fourth quarter ending March 31, 2011 as compared to
137.16 crore during the same period in
the previous fiscal year. The
company’s net sales for the quarter stood at
890.34 crore as against
991.83 crore reported in the same period
during the last fiscal.
Commenting on the performance of the company, CMD Mr Shyam S Bhartia,
highlighted that during the financial year 2011, the company recorded a
good revenue growth in its products’ business, which was fueled by a
robust volume growth of 16 percent. The firm has gained confidence due
to its increased capacity utilization, commissioning of new plants,
innovation led new launches and expansion of market geographies.
Ranbaxy registers Q1 sales of 2,146 cr
Ranbaxy Laboratories declared its financial performance for the first
quarter ending March 31, 2011. The consolidated sales of the company
for the quarter were
2,146 crore as compared to
2,484 crore in the
corresponding quarter in the previous year.
Earnings before interest, tax, depreciation & amortization (EBITDA)
was 20 percent of sales at
428 crore as compared to
983 crore. The
Indian market recorded sales worth
435 crore, which is a growth of 14
percent. Of this, sales in the consumer healthcare business stood at
59 crore, a growth of 35 percent. The
Asia Pacific region recorded
76 crore, a growth of 17 percent, which
was mainly driven by
higher sales in some smaller markets.
The key highlights of this year’s performance of the company include
the increase in its market share to 4.78 percent, as compared to 4.63
percent in Q1 of 2010. Also, Ranbaxy redeemed the $440 million foreign
currency convertible bonds, on the due date. During the quarter, over
10 regulatory agencies from across the globe, inspected and approved
Ranbaxy’s API and dosage form (DF) facilities, in multiple locations.
Dr Reddy’s Q4 net
profit dips 34%
Dr Reddy’s Laboratories announced its unaudited consolidated financial
results for the quarter and full year ending March 31, 2011 under
International Financial Reporting Standards (IFRS). The firm’s
consolidated revenues were
7,470 crore in the financial year 2011 as
7,030 crore in the financial year 2010
year-on-year growth of six percent. The company witnessed good and
sustained growth across all key for-mulation markets in the financial
North America’s revenue witnessed a growth of 18 percent in dollar
terms and 11 new products were launched in the region. Sequential
growth of 23 percent in Q4 FY11 over Q3 FY11 demonstrates the fifth
consecutive quarter of sequential growth. The business in Russia
witnessed revenue growth of 29 percent in dollar terms, due to growth
in volumes and OTC initiatives. India’s revenue growth was 15 percent,
with sustained growth of key brands and new products introduction.
In Germany, revenue declined 17 percent in Euro terms, however,
improved significantly in profitability.
During the year, the company launched 135 new generic products, filed
107 new product registrations and filed 56 DMFs globally. The company
also forayed into many strategic initiatives. The firm acquired a
penicillin facility to fill the portfolio gap in the anti-bacterial
segment in the US. The company also collaborated with Valeant Pharma to
market Cloderm Cream in the dermatology space in the US.
GVK to focus on neglected diseases
GVK Biosciences has been selected as a preferred provider to a
consortium of 14 global product development partners (PDPs) for
clinical services in Asia. It is the only partner that is headquartered
in India. The PDPs, funded in part by the Bill and Melinda Gates
Foundation are not-for-profit entities focused on developing new
interventions for neglected diseases. Collectively, the 14 PDPs would
fund 85 clinical trials in the developing world over the next two years
and India features as a key developing world country.
buys stake in aCROnordic
Ecron Acunova acquired a majority stake in Denmark-based aCROnordic, a
CRO specialized in clinical research in Sweden, Finland and Norway. The
firm has its headquarters located in Denmark’s leading bio-science
park, SCION DTU in Hoersholm near Copenhagen.
Mr DA Prasanna, founder and chairman of Ecron Acunova, highlighted that
a recent change in the strategy of sponsors in the healthcare industry
asks for a more global presence of preferred provider CROs. Mr
Søren Strøh, founder and former owner of the firm will
continue his role as CEO for the Nordic region.
Sanofi enter deal
Glenmark Pharmaceuticals announced that it entered into an agreement
with Sanofi Aventis to grant a license for the development and
commercialization of GBR 500, a novel monoclonal antibody used for the
treatment of Crohn’s Disease and other inflammatory conditions. Sanofi
will have exclusive marketing rights for North America, Europe, Japan,
Argentina, Chile and Uruguay and Glenmark will co-market in Russia,
Brazil, Australia and New Zealand.
Glenmark will retain exclusive marketing rights in India and other
countries in the rest of the world. Glenmark’s other biologics
molecules include GBR 600 which has completed phase I studies, GBR 401
which is in pre clinical studies and GBR 900 which again is at early
stages of development.
Indegene bags seven Hermes awards
Indegene Lifesystems, a scientific partner to global pharmaceutical and
life sciences companies, won seven awards at the prestigious Hermes
Creative Awards 2011. Hermes Creative Awards is an international
competition for creative professionals involved in the concept, writing
and design of traditional materials, programs, and emerging
technologies. They are administered and judged by the Association of
Marketing and Communication Professionals. There were about 4,400
entries in this year’s competition. This year Indegene won four
platinum awards under the categories of ‘Overall Website,’ ‘e-Learning
Solutions,’ and ‘Advertising Campaign’. In the Gold awards grouping,
Indegene won three awards under the categories of ‘Overall Website,’
‘e-Learning,’ and ‘Video-Marketing Services.’ As a leading
commercialization and marketing service provider to pharmaceutical
companies across the globe, Indegene has a proven track record of
winning awards year-on-year for some of its most creative medical and
marketing initiatives. Last year, the company won two awards, including
one Gold and one Platinum award at the Hermes Creative Awards 2010.
$202 mn for FCCBs
Jubilant Life Sciences, the largest custom research and manufacturing
services company in India, announced the prompt repayment of $202
million on account of outstanding FCCBs including YTM of $60 million.
The company has repaid all the outstanding FCCBs on time, as per
schedule, in line with the terms and conditions of the FCCB
instruments, showing its commitment to meet its obligation on time and
also demonstrating its financial strength. Jubilant’s CMD, Mr Shyam S
Bhartia, and co-CMD, Mr Hari S Bhartia, highlighted that the firms’
objective is to strengthen the balance sheet by using a more optimal
mix of capital. They also revealed that after the repayment of the
previous FCCBs, worth $202 million, there is no major debt repayments
that is due for the next three years. Jubilant Life Sciences has good
visibility of growth and has exciting plans to augment capacities,
introduce products and enter new markets across the various lines of
businesses, thereby driving revenue and earnings growth momentum of the
TN beats Karnataka
in biofertilizer use
Tamil Nadu has overtaken Karnataka in biofertilizer usage according to
the data on use of biofirtilizer released by the Ministry of
Agriculture, on May 18, 2011. In 2009-10, Tamil Nadu produced 3,733
tonnes of bio-fertilizers followed by Karnataka 3,696 tonnes. The other
major producers of bio-fertilizers are Kerala (1,937 tonnes),
Maharashtra (1,861 tonnes) and Madhya Pradesh (1,588 tonnes).
Studies on the benefits and the usefulness of bio-fertilizers on
agriculture production reveal that on an average 10-20 percent increase
in production can be realized by the use of bio-fertilizers. In terms
of nutrients, bio-fertilizers can provide 10-20 kg nitrogen and can
solublize 10-12 kg of phosphorous pentoxide per hectare per cropping
season. Use of bio-fertilizers also improve soil health by helping
other beneficial micro-organisms to grow.