Ranbaxy: Results euphoria wanes
Ranbaxy Laboratories was up 0.80% to Rs 434.85, down from an earlier high, after it reported 41.92% rise in net profit for Q4 December 2006.As many as 13.80 lakh shares changed hands in the counter on BSE. The stock had surged to a high of Rs 445, in intra-day trade, just as the results were declared.
Ranbaxy Laboratories posted 41.92% rise in net profit to Rs 139.07 crore for the fourth quarter ended December 2006, compared to Rs 97.99 crore for the quarter ended December 2005. Total income increased 13.66% to Rs 1035.33 crore (Rs 910.84 crore).
For FY 2006, the company posted a net profit of Rs 386.45 crore as compared to Rs 223.70 crore in FY 2005. Total income increased to Rs 4004.98 crore (Rs 3651.30 crore).
On a consolidated basis, the group posted profit after tax & minority interest of Rs 183.30 crore for the quarter ended December 2006, compared to Rs 68.60 crore for the quarter ended December 2005. Total income increased to Rs 1779.30 crore (Rs 1450.30 crore).
For FY2006, the group posted profit after tax & minority interest of Rs 515.10 crore for the year ended December 2006, compared to Rs 261.70 crore for the year ended December 2005. Total income increased to Rs 6163.70 crore (Rs 5374.70 crore).
The board of Ranbaxy Laboratories, at a meeting held on 18 January 2007, also approved a strategic stake of 14.9% in Krebs Biochemicals and Industries, Hyderabad.
Ranbaxy has been on an acquisition spree this year, snapping up generic drug makers in Italy, Spain, Belgium and Romania. Recently, it bought South Africa's Be-Tabs Pharmaceuticals for $70 million.
Ranbaxy Laboratories received the US Food and Drug Administration (FDA) approval to market atenolol tablets of strengths 25 mg, 50 mg, and 100 mg. The FDA has determined that the Ranbaxy formulation is equivalent to AstraZeneca's hypertension drug Tenormin(r). The total annual market sales for atenolol were $133.6 million according to market research agency IMS' September 2006 data.
Last month, Ranbaxy Laboratories, Zydus Cadilla and Aurobindo Pharma received approval from the US Food and Drug Administration (USFDA) to market cholesterol lowering drug, Simvastatin, the generic version of Merck's `Zocor'. Ranbaxy has permission to sell the drug in strengths of 5 mg, 10 mg, 20 mg and 40 mg. It has been selling the drug in 80 mg dosage since June.
Ranbaxy Laboratories posted 41.92% rise in net profit to Rs 139.07 crore for the fourth quarter ended December 2006, compared to Rs 97.99 crore for the quarter ended December 2005. Total income increased 13.66% to Rs 1035.33 crore (Rs 910.84 crore).
For FY 2006, the company posted a net profit of Rs 386.45 crore as compared to Rs 223.70 crore in FY 2005. Total income increased to Rs 4004.98 crore (Rs 3651.30 crore).
On a consolidated basis, the group posted profit after tax & minority interest of Rs 183.30 crore for the quarter ended December 2006, compared to Rs 68.60 crore for the quarter ended December 2005. Total income increased to Rs 1779.30 crore (Rs 1450.30 crore).
For FY2006, the group posted profit after tax & minority interest of Rs 515.10 crore for the year ended December 2006, compared to Rs 261.70 crore for the year ended December 2005. Total income increased to Rs 6163.70 crore (Rs 5374.70 crore).
The board of Ranbaxy Laboratories, at a meeting held on 18 January 2007, also approved a strategic stake of 14.9% in Krebs Biochemicals and Industries, Hyderabad.
Ranbaxy has been on an acquisition spree this year, snapping up generic drug makers in Italy, Spain, Belgium and Romania. Recently, it bought South Africa's Be-Tabs Pharmaceuticals for $70 million.
Ranbaxy Laboratories received the US Food and Drug Administration (FDA) approval to market atenolol tablets of strengths 25 mg, 50 mg, and 100 mg. The FDA has determined that the Ranbaxy formulation is equivalent to AstraZeneca's hypertension drug Tenormin(r). The total annual market sales for atenolol were $133.6 million according to market research agency IMS' September 2006 data.
Last month, Ranbaxy Laboratories, Zydus Cadilla and Aurobindo Pharma received approval from the US Food and Drug Administration (USFDA) to market cholesterol lowering drug, Simvastatin, the generic version of Merck's `Zocor'. Ranbaxy has permission to sell the drug in strengths of 5 mg, 10 mg, 20 mg and 40 mg. It has been selling the drug in 80 mg dosage since June.
posted by SY at 6:37 PM
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