Ranbaxy has posted Q3CY13 results where the total income was posted at Rs 28.02 billion. The EBITDA margin has been reported at 8.3 per cent. The company posted an adjusted PAT of Rs 605million during the quarter, affected by increase in interest cost and tax rate and decline in other income.
According to Fortune Equity Brokers (India) Ranbaxy’s US formulations business posted sales decline of 6.2 per cent Y-o-Y due to Absorica exclusivity in Q3CY12 and lower Absorica sales. The company has continued to maintain good market share in all its FTFs even post exclusivity period. The drug is expected to generate sales of $160 million in CY14 and reach $200 million by CY15. It is also expected that the company’s base business US sales to improve, going forward, with gain in share by Absorica and Desvenlafaxine and launch of Ximino. The company should also see some ANDA approvals from Ohm labs after receiving EIR from US FDA and as per Fortune Equity Brokers (India), the company may receive Diovan and Valcyte approval only in CY14.
In the domestic market, the company posted a flat growth YoY which was affected by implementation of new pricing policy and inventory reduction due to standoff between companies and distributors. Eastern Europe and CIS cumulatively posted growth of 42.4 per cent as the company performed well in Romania and Russia during the quarter. APAC growth also bounced back to 30.4 per cent Y-o-Y during the quarter. Africa posted a growth of 10.9 per cent Y-o-Y.
EP News Bureau – Mumbai
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