Posted on 13/05/2010 in Pharmaceutical Company Financials Ranbaxy has experienced an upturn in its fortunes in the first quarter of 2010, posting a 65 per cent year-on-year increase in its net sales.
The pharmaceutical company accrued $542 million (366.7 million pounds) from consolidated net sales between January and March, representing the first time its quarterly sales have ever exceeded $500 million.
It highlighted its "robust" sales growth in several key markets as a driver behind this increase, as well as the success of treatments such as Valacyclovir and Oxycodone ER.
Ranbaxy also entered the vaccines market for the first time in the last quarter with the purchase of products and manufacturing capabilities from Biovel Lifesciences, a move which it believes will underpin the company's future growth.
Atul Sobti, chief executive officer and managing director at Ranbaxy, described its activities in the three-month period as "yet another quarter of strong operational performance".
Last month, Ranbaxy announced a new collaboration with Pfenex which will see the two companies work together on developing an unspecified biosimilar therapeutic.Other news stories from 13/05/2010
Read more in the Zenopa News Archive
How this news is generated
|
