Alembic Pharma Q3 Outcomes: Revenue beats Avenue view on robust home, US gross sales – ET HealthWorld | Pharma

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Vadodara: India’s Alembic Pharmaceuticals reported a bigger-than-expected third-quarter profit on Monday, pushed by greater gross sales within the home and U.S. markets.

The generic drugmaker reported a consolidated internet revenue of 1.80 billion rupees (almost $22 million) for the three months ending Dec. 31, beating analysts’ common estimate of 1.46 billion rupees, as per LSEG information. It had reported a revenue of 1.22 billion rupees within the year-ago interval.

New product launches and easing worth erosion in america have benefitted generic drugmakers comparable to Alembic and in addition bigger rivals, together with Cipla, Dr Reddy’s and Sun Pharmaceutical Industries, all of which beat their third-quarter revenue estimates on robust U.S. gross sales.

The waning influence of high-cost inventories have additionally boosted income for drugmakers.

Alembic Prescription drugs’ revenue from operations rose 8 per cent within the December-quarter, led by a 9 per cent rise in its India and U.S. companies every.

India and U.S. segments constituted about 37 per cent and 29 per cent of its complete income, respectively.

The corporate, which makes medicine like Azithral, used to deal with bacterial infections, and anti-ulcer drugs Deltone, stated its revenue margin expanded to 11.1 per cent from 8.8 per cent a 12 months earlier.

Its energetic pharmaceutical substances (API) enterprise, which contributed 19 per cent to the entire, fell 11 per cent to 2.89 billion rupees.

Alembic Pharma makes APIs utilized in medicine to handle ailments comparable to diabetes, osteoporosis and melancholy.

Its shares rose greater than 8 per cent after the outcomes. They fell 3.2 per cent throughout the December quarter.

($1 = 83.0475 Indian rupees)

  • Printed On Feb 5, 2024 at 04:39 PM IST

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