News
Ranbaxy Q2 global sales at Rs 14,464 mn, 7% growth
The Board of Directors of Ranbaxy Laboratories Limited (RLL) at their meeting held today took on record the un-audited results for the quarter ended June 30, 2006.
The Company also announced the consolidated global results for the quarter (Q2) and half year (H1) ended June 30, 2006.
Commenting on the business results, Mr. Malvinder Mohan Singh, CEO and MD, Ranbaxy, said, "We have delivered better performance from quarter to quarter and our business has strengthened with gains in market share and improved margins. We see this trend accelerate as we move forward. We continue to control and reduce our costs to become more competitive and have increased our footprint in Europe, and Japan, both through our own presence and through significant and strategic acquisitions. A judicious mix of organic and inorganic growth will provide the necessary momentum to our future plans."
Global Sales
For Q2, global sales registered an increase of 6% at USD 317 Mn. This performance was primarily led by the key geographies of the USA and the BRICS markets.
International dosage form sales were at USD 212 Mn, recording an increase of 8% over the corresponding period in the previous year. The contribution to total sales of the international dosage forms business presently stands at 67% versus 65% in Q2 '05.
For H1, global sales recorded an increase of 9% at USD 604 Mn. This was led by the healthy performances in key geographies of the USA and BRICS markets. International dosage form sales were at USD 410 Mn, recording an increase of 9% over the corresponding period in the previous year.
USA & Canada
For Q2, USA recorded sales of USD 89 Mn, an increase of 8%. For H1, sales stood at USD 176 Mn, an increase of 9% over the corresponding period. The Company received a significant approval from the U.S. Food and Drug Administration (FDA) to manufacture and market Simvastatin Tablets USP, 80mg with a 180-day exclusivity in the U.S. The Company has already gained a majority market share and anticipates considerable commercial benefits to accrue during the exclusivity period. The overall market share of Ranbaxy in the US generic market (in molecules where we have a presence) was ~15.2% in Q2 '06, up from 12.2% in Q2 '05. The Company also continues to increase its product listings with its chain store customers in the US. Ranbaxy received approval from the USFDA to manufacture and market Doxycycline Tablets 50mg, 75mg, and 100mg in the U.S. market. Approval was also granted to manufacture and market Cefprozil Oral Suspension USP, 125 mg/5mL and 250 mg/5mL. These products will strengthen the Company's growing basket of anti-infectives. With these, the Company's cumulative ANDA approvals to date stand at 113, with 56 ANDAs pending approval with the US FDA.