NEW DELHI :
Strong operational performance of Cipla’s two largest markets of US and India helped the company post a 25% jump year-on-year in its consolidated net profit for July-September quarter (Q2) to ₹471 crores.
Cipla’s India sales, which make up over a third of the topline, grew 6% to Rs1,745 crores due to strong recovery in the generics business coupled by strong performance of its branded drug sales, the company said.
In the branded business, seasonal triggers helped sales of drugs for acute illnesses rises over 15% year on year growth in primary sales, the company said.
Mumbai-based Cipla’s consolidated net sales rose 10% on year to ₹4,396 crores, with operating margin expanding to 20.7% from 18.8%.
The company’s revenue from the US market rose by a fourth to $135 million, aided by strong sales of cinacalcet, which is used to treat increased amounts of a parathyroid hormone in people with long-term kidney disease who are on dialysis. Launch of anticonvulsant drug pregabalin and antibiotic daptomycin also aided Cipla’s US sales.
In the US, Cipla said that it is progressing well on trials of respiratory drugs, and has completed patient randomization trials for Advair. The company plans to launch albuterol in April-September next year.
Cipla is also planning to submit the new drug application of intravenous tramadol later in the year via Avenue Therapeutics, the company said. Cipla had acquired 33.3% stake in Avenue Therapeutics through its subsidiary last year.
The company currently has 22 drugs tentatively approved and another 63 under approval process of the US Food and Drug Administration, as per the investor presentation of the company.
Shares of Cipla closed 3% higher at 482 rupees on the National Stock Exchange today.