Alembic Pharma posts 17 pecent increase in Q4 profit

Written by Ruchika Sharma Published On 2024-05-10T12:47:16+05:30 | Updated On 10 May 2024 12:47 PM IST

Alembic Pharma posts 17 pecent increase in Q4 profit

Bengaluru: Alembic Pharma, an Indian generic drug manufacturer, has announced a 17 percent rise in fourth-quarter profit, propelled by strong sales, especially in the crucial North American market.

Consolidated profit rose to 1.78 billion rupees ($21.3 million) in the three months ended March 31, from 1.53 billion rupees a year earlier.

As per Reuters Report, Indian generic drugmakers like Dr. Reddy's Laboratories, Cipla and Sun Pharmaceutical have been benefitting from price recovery in the U.S. market as well as strong sales, especially of their copycat versions of Bristol-Myers Squibb's blockbuster cancer drug Revlimid.

On Tuesday, Dr Reddy's beat fourth-quarter profit estimates, boosted by strong U.S. sales of its generic version of Revlimid.

Read also: Dr Reddy's Labs expects strong product pipeline in North America for FY25

Alembic Pharma, which also sells a copycat version of Revlimid, said overall revenue rose nearly 8 per cent to 15.17 billion rupees.

Sales in North America grew 19 per cent, while domestic sales climbed 3 per cent in the quarter. India and the U.S. contributed around 61 per cent of the drugmaker's total revenue. ($1 = 83.5000 Indian rupees).

Read also: Alembic Pharma gets USFDA EIR for Panelav Oncology formulation facility

Headquartered in India, Alembic Pharmaceuticals Limited is a vertically integrated research and development pharmaceutical company. It is a publicly listed company that manufactures and markets generic pharmaceutical products all over the world. Alembic's state of the art research and manufacturing facilities are approved by regulatory authorities of many developed countries including the USFDA.

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Source : with inputs

Ruchika Sharma

Ruchika Sharma joined Medical Dialogue as an Correspondent for the Business Section in 2019. She covers all the updates in the Pharmaceutical field, Policy, Insurance, Business Healthcare, Medical News, Health News, Pharma News, Healthcare and Investment. She has completed her B.Com from Delhi University and then pursued postgraduation in M.Com. She can be contacted at editorial@medicaldialogues.in Contact no. 011-43720751