Sun Pharma reported an increase of 11% in gross sales to Rs 12,031 crore with a 5% jump in net profit to Rs 2,375.5 crore for the second quarter ended September. India formulation sales were up by 11% to Rs 3842.5 crore, while those in the US increased by 4.2% to $ 430 million.
Global specialty sales stood at $240 million, up 19.3% vs second quarter (Q2) last year, and accounted for 16.4% of Q2FY24 sales.
The company’s R&D investments stood at Rs 773 crore (6.4% of sales) compared to Rs 571 crore (5.3% of sales) for Q2 last year. EBITDA margin for Q2 was at 26.1% vs 27% for Q2 last year.
Sun Pharma managing director Dilip Shanghvi said, “US FDA’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. Similarly, another late stage candidate Nidlegy will potentially complement our Odomzo franchise. Nidlegy’s recent positive phase-3 data in patients with locally advanced fully resectable melanoma positions us to provide patient solutions across a broad spectrum of skin cancers.”
Global specialty sales stood at $240 million, up 19.3% vs second quarter (Q2) last year, and accounted for 16.4% of Q2FY24 sales.
The company’s R&D investments stood at Rs 773 crore (6.4% of sales) compared to Rs 571 crore (5.3% of sales) for Q2 last year. EBITDA margin for Q2 was at 26.1% vs 27% for Q2 last year.
Sun Pharma managing director Dilip Shanghvi said, “US FDA’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. Similarly, another late stage candidate Nidlegy will potentially complement our Odomzo franchise. Nidlegy’s recent positive phase-3 data in patients with locally advanced fully resectable melanoma positions us to provide patient solutions across a broad spectrum of skin cancers.”