Pharma main Sun Pharma on Wednesday posted a 5 per cent 12 months-on-12 months (YoY) bounce in its internet revenue at Rs 2,375.5 crore for the second quarter ended September 2023. Its product sales throughout July-September 2023 elevated 11 per cent YoY to Rs 12,003.1 crore.
Sun Pharma’s Ebitda (earnings earlier than curiosity, tax, depreciation and amortisation), together with different working revenues, was up 7.5 per cent to Rs 3,179.4 crore. Its Ebitda margin stood at 26.1 per cent, decrease as in contrast with 27 per cent a 12 months in the past, based on an announcement.
Its India formulation gross sales rose 11.1 per cent to Rs 3,842.5 crore. US formulation gross sales had been up 4.2 per cent to $430 million throughout the September 2023 quarter.
Dilip Shanghvi, managing director of Sun Pharma, mentioned, “The USFDA’s acceptance of deuruxolitinib NDA for treatment of moderate to severe alopecia areata marks an important milestone. There are limited treatment options for alopecia areata and deuruxolitinib should make a meaningful difference in patient lives, once approved.”
He additionally mentioned one other late-stage candidate Nidlegy will doubtlessly complement our Odomzo franchise. Nidlegy’s current constructive section-3 knowledge in sufferers with domestically superior totally resectable melanoma positions us to offer affected person options throughout a broad spectrum of pores and skin cancers.
Formulation gross sales in rising markets had been at $284 million for Q2, a progress of 9.4 per cent over Q2 final 12 months and accounting for about 19.5 per cent of whole consolidated gross sales for the quarter. For the primary half, gross sales had been $545 million, up by 8 per cent over first half final 12 months, Sun Pharma mentioned within the assertion.
Formulation gross sales in Rest of World (ROW) markets, excluding US and rising markets, had been $206 million.
For Q2FY24, exterior gross sales of API had been at Rs 497.2 crore, up by 5.1 per cent over Q2 final 12 months. For the primary half, API gross sales had been at Rs 1,036.8 crore, declined by about 3.3 per cent over first half final 12 months.
“Our API business imparts benefits of vertical integration and continuity of supply chain for our formulations business. We continue to focus on increasing API supply for captive consumption for key products,” Sun Pharma mentioned.
