Dabur Pharma Q2 net jumps 45.95%
New Delhi, Oct 26 (UNI) Citing its focus on the oncology segment as the driving force, Dabur Pharma today posted a 45.95 per cent jump in net profit for the Q2FY07 at Rs 6.96 crore as against Rs 4.77 crore during the Q2FY06.
The company's sales also grew by 33.5 per cent at Rs 97.8 crore from Rs 73.2 crore during the same quarter last year, 55 per cent of which was contributed by the company's overseas business.
''A healthy topline, focus on our oncology products and foray in the US market following the ANDA approval for the company's Carboplatin Molecule have been the major achievements during the second quarter of this fiscal,'' Dabur Pharma COO Ajay Vij told reporters at a select press meet here.
He said the US is a 100 million dollar plus market for the anti- cancer drug which is likely to hit there within the next 30-45 days.
He, however, declined to comment on the targets for the new product.
The company also completed the Phase-I of its Rs 100 crore manufacturing plant at Baddi in Himachal Pradesh during the Q2FY07, Mr Vij said.
He also informed that the company had four other ANDA approvals in the pipeline apart from the one received last month from the USFDA adding that the company was open for acquisitions more likely in the overseas market.
''We are open to organic and inorganic growth including overseas buyouts. The driving force will be marketing and enhancing portfolio.
Basically, we are looking at the front-end growth.'' The company has also entered into a distribution tie-up with Hospira a two billion dollar pharma company in the US.
Meanwhile, the company registered a growth of 26.1 per cent in net profit at Rs 13.59 crore during April-September 2006 from Rs 10.77 crore during the half year between April-September 2005.
The sales during H1FY07 stood at Rs 178.88 crore from Rs 146.42 crore during the same period last fiscal.
Dabur Pharma's wholly-owned subsidiary at UK, Dabur Oncology Plc which caters to the US and the European market, had got the ANDA approval for its Carboplatin molecule in September this year.
The Delhi-based pharma firm, whose anti-cancer medicines business brings in two-thirds of its revenues, also makes anti-diabetes, digestive, gynaecological, cardiovascular, anti-bacterial and gastro-intestinal drugs.
It leads the oncology generics market or anti-cancer medicines with 45 products and sales in as many countries, including India, Thailand, Malaysia and the Philippines.
It, however, sells non-oncology products only in India, Sri Lanka and Africa. The remaining are exported as bulk drugs. Non-oncology segment in India accounts for 55 per cent of its domestic business while the oncology segment drives 20 per cent of the market in India.
UNI PV KR HS1819