Ranbaxy reports significant sales growth in Q2 2012

Ranbaxy has published its financial results for the second quarter of 2012, during which it experienced a year-on-year sales increase of 55 percent.

The company's consolidated sales total for the quarter came to 31.74 billion rupees (367.76 million pounds), up from 20.54 billion rupees in Q2 2011, while earnings and profitability levels also increased.

During the period, the firm experienced success with the commercialisation of its Atorvastatin and Atorvastatin plus Amlodipine products, as well as launching Synriam, India's first domestically developed drug.

The company also received regulatory approval in the US for the launch of two new products, the acne therapies Absorica and Ximino.

Arun Sawhney, chief executive officer and managing director at Ranbaxy, said: "Sales and profitability grew in the quarter with overall improvement across major regions, aided further by exclusivity sales in some of the key markets."

Earlier this month, the company allied with Gilead Sciences on a new project to promote access to low-cost HIV medicines in developing nations.