India's foremost pharma releases Q4 results, profits up by 57%
Sun Pharma, India's largest pharma company posted successful fourth quarter results, which saw a surge of 57 percent over last year for the same quarter. This takes the total revenue for the company to Rs 1,587 crore from Rs 1,012 crore in 2013.
In a press release posted on the company website, the pharma major, declared that the net profit for the fiscal year 2013-14 was up by 42 percent, clocking Rs 4,044 crore.
The company has reported improved international sales, with an increase in the US, its largest market, which rose by 22 percent, showing remarkable increase.
The pharma major is in the process of taking over Ranbaxy laboratories, now that the ban on the merger has been lifted recently.
A committee has been formed by Sun, comprising of members from both the companies to help smoothen the transition process. But the premier Indian company still has to overcome quality issues in some of its plants that caused the USFDA to ban export into the US.