Impressive results by Sun Pharma

Chennai: Speciality drug major Sun Pharmaceutical Industries Limited, reported strong performance for the first half of 2005-06. The company posted a total sales of Rs819 crore and other income of Rs81.99 crore (consolidated figures - Sun Pharma and its subsidiaries). The net profit for the period under review is Rs28.39 crore.

According to the chairman and managing director, Dilip Shanghvi, the speciality focus and intent on customer relationships continues to help us grow the business consistently. We retain the same respect for bottom-line despite the size and ranks we have reached."

During the first half of this year Sun Pharma acquired two units - one in Hungary (ICN Hungary Inc) and the other in the US, the Ohio facility of Valeant Pharmaceuticals Inc- each costing less than $10 million.

The Hungary plant spread over 170 acres with dosage form as well as a 500 KL bulk reactor capacity is one of the few sites worldwide manufacturing controlled substances. The Ohio plant manufactures liquids, creams, and ointments. The two units are expected to strengthen the company to better address US and other international markets. Streamlining and upgrading as part of the process of integration has begun at both the sites.

In the domestic market, Sun Pharma sold formulations worth Rs498.9 crore and commands a market share of 3.27 per cent. The company is ranked number 1 with Psychiatrists, Neurologists, Cardiologists, and Ophthalmologists. In all, the company ranks among the top 5 with 11 classes of specialists (CMARC March-June 2005).