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Buisness

Profit increases by 5% at Sun Pharma in Q2 due to robust sales of a generic cancer medication

<p>Strong sales in its domestic and U.S. formulation operations propelled Sun Pharmaceutical Industries, India’s biggest pharmaceutical by revenue, to a larger-than-expected increase in second-quarter earnings on Wednesday.</p>
<p><img decoding=”async” class=”alignnone wp-image-262114″ src=”https://www.theindiaprint.com/wp-content/uploads/2023/11/theindiaprint.com-profit-increases-by-5-at-sun-pharma-in-q2-due-to-robust-sales-of-a-generic-cancer-.jpg” alt=”theindiaprint.com profit increases by 5 at sun pharma in q2 due to robust sales of a generic cancer” width=”1228″ height=”920″ srcset=”https://www.theindiaprint.com/wp-content/uploads/2023/11/theindiaprint.com-profit-increases-by-5-at-sun-pharma-in-q2-due-to-robust-sales-of-a-generic-cancer-.jpg 259w, https://www.theindiaprint.com/wp-content/uploads/2023/11/theindiaprint.com-profit-increases-by-5-at-sun-pharma-in-q2-due-to-robust-sales-of-a-generic-cancer–150×112.jpg 150w” sizes=”(max-width: 1228px) 100vw, 1228px” title=”Profit increases by 5% at Sun Pharma in Q2 due to robust sales of a generic cancer medication 6″><br />
For the quarter that ended on September 30, the combined net profit after tax increased to 23.76 billion rupees ($285.37 million) from 22.62 billion rupees the previous year.</p>
<p>Based on LSEG statistics, analysts had projected a net profit of 23.04 billion rupees on average.</p>
<p>During the quarter, sales from its India formulations increased 11.1% to 38.43 billion rupees, while sales from its U.S. formulations division increased 7.9% to 35.5 billion rupees.</p>
<p>According to Sun Pharma, the two companies make up 32% and 30% of overall revenues, respectively.</p>
<p>revenues of the company’s generic version of the well-known cancer medication Revlimid also account for a significant portion of overall revenues.</p>
<p>One of India’s oldest pharmaceutical companies, Mumbai-based Sun Pharma, which also produces well-known consumer healthcare items including vitamin tablets called Revital and pain treatment gel called Volini, reported an 11.3% increase in overall operating income to 121.92 billion rupees.</p>
<p>Founded in 1983, the firm produces over-the-counter pharmaceuticals, anti-retrovirals, active pharmaceutical components, and generics as well as specialized drugs for both acute and chronic therapies.</p>
<p>Due to robust U.S. demand, rival companies Cipla and Dr Reddy’s announced better-than-expected profits last week.</p>
<p>Following its results, Sun Pharma’s shares increased by 1.26%, while the Nifty 50 index fell by 0.35%.</p>
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