Ranbaxy
The drug major’s performance was a major disappointment . Call it the base effect or anything else, the company reported a consolidated a 89% decline in net profit at Rs.126 crore for first quarter ended 31st March 2013. In first quarter of 2012, net profit was at Rs.1247 crore but this was thanks to the exclusive rights it had then to sell the generic version of cholesterol lowering drug, Lipitor in USA. Since then, it has lost the exclusive rights and that is now being reflected in its performance. Net sales fell 34% at Rs.2440 crore. Operating profit margin slumped sharply from 26.8% to 6.6%.
In terms of break-up of sales, OTC category contributed 50% and generics, including API contributed the balance. Its sales in India grew 11% but sales in North Amereica dropped due to the exclusivity. East Europe grew 15% while West Europe fell 18% and Africa and Middle East showed the best growth at 25%. During the quarter under consideration, the company's sales in India grew by 11 per cent at Rs 542.7 crore, while in North America it stood at Rs 689.2 crore. During the quarter, the company filed 3 ANDAs (abbreviated new drug applications) with the USFDA, which include two potential first-to-file (exclusive launch) products.