Sun Pharmaceutical Industries Ltd, India's top pharmaceutical company, reported a growth of 9% in sales / income from operations at Rs. 30,264 crores, over same period last year.
The company reported a net profit for the FY17 at Rs. 6,964 crores, resulting Net profit margin of 23%. Net profit grew by 53% over the last year. Net profit for FY16 was adversely impacted by one-time items as well as exceptional charges of Rs. 685 crores.
Dilip Shanghvi, Managing Director, Sun Pharmaceutical Industries said, “For the full year FY17 sales in US were US$ 2,051 million, flat over last year. Sales for the year were boosted primarily due to the benefit of the 180-day exclusivity for Imatinib which commenced from 01-Feb-2016 and the authorized generic sales of Olmesartan and its combinations.”
For the FY17, sales of branded formulations in India were at Rs. 7,749 crores, higher by 8% over same period last year. For the full year FY17, sales were down by 8% at US$ 879 million. Net profit for FY17 was at US$ 456 million, a decline of 16% over same period last year.
For the FY17, sales in emerging markets were US$ 675 million, up by 23% over same period last year. The growth is broad based amongst emerging markets. For the FY17, sales in Rest of World Markets (ROW) were US$ 385 million, up by 17% over same period last year. ROW markets accounted for approximately 9% of revenues for full year FY17.
For the FY17, Active Pharmaceutical Ingredients (API) sales were up by 14% to Rs. 1,598 crores, partly driven by the consolidation of the Australian Opiates business.
For FY17, R&D expenses were Rs. 2,314 crores or 7.6% of sales. This R&D expenditure includes investments on account of funding the clinical development of our global specialty pipeline.
The company has a comprehensive product offering in the US market consisting of approved ANDAs for 427 products while filings for 157 ANDAs await US FDA approval, including 16 tentative approvals.
