Sun Pharma’s Q2 net profit falls 59.7% on weak US sales

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Sun Phar­ma­ceu­ti­cal In­dus­tries Ltd, In­dia’s largest drug maker, re­ported a 59.7% de­cline in fis­cal-sec­ond quar­ter profit be­cause of weak US sales.

Net profit de­clined to Rs1,001.79 crore in the three months ended 30 Septem­ber from Rs2,487.89 crore a year ago. Sales fell 15% to Rs6,590.06 crore.

A Bloomberg poll of 22 an­a­lysts had es­ti­mated Sun Pharma’s Septem­ber profit at Rs800.40 crore and sales at Rs6,803.90 crore.

“A chal­leng­ing US generic pric­ing en­vi­ron­ment cou­pled with con­tin­ued in­vest­ments in build­ing our global spe­cialty busi­ness has im­pacted our Q2 per­for­mance,” Sun Pharma man­ag­ing di­rec­tor Dilip Shanghvi said. See Page 5

REUTERS

Sun Pharma man­ag­ing di­rec­tor Dilip Shanghvi.

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