GlaxoSmithKline Pharmaceuticals (GSK) on Monday reported a 33.73% decline in standalone net profit to R100.95 crore for the third quarter ended September 30 against a standalone net profit of R152.34 crore a year ago. The company follows January to December financial year. Quarterly net sales fell 7% year-on-year due to the amended Drug Price Control Order which adversely impacted its sales in certain regions of the country. In early-October, the company had warned of low sales trend in the quarter. For the quarter ended September 30, the company’s net sales were R620.54 crore compared with R668.5 crore in the year-ago period.
Pfizer Q2 standalone net up 33% at R69.59 crore
Pfizer on Monday reported a 33.11% rise in standalone net profit to R69.59 crore for the second quarter ended September 30. It had posted net profit of R52.28 crore for the July-September quarter of 2012-13 fiscal. Total income from operations rose to R298.87 crore from R268.44 crore in the year-ago period. For the first half of the current financial year, the net profit of the company stood at R117.22 crore against R381.16 crore for the same period year ago.
USFDA approves generic version of GERD drug
The US Food and Drug Administration approved a generic version of rabeprazole sodium delayed-release tablets used to treat a chronic form of acid reflux disease called gastroesophageal reflux disease or GERD.
Dr Reddy’s Laboratories, Lupin, Mylan and Torrent are among the six Indian companies who received the approval. Mumbai-based Lupin said separately that it launched a 20-mg version of the drug. The medicine which was initially patented by Japan’s Eisai had annual US sales of about $864.3 million.
Chennai Petro restarts unit after shutdown
Chennai Petroleum has restarted a crude distillation unit at its 190,000 barrels per day (bpd) Manali refinery in Chennai after a one-month planned maintenance, industry sources said on Monday. The company had shut its No. 1 crude unit with a capacity of about 50,000 bpd in October for a planned maintenance and returned the unit online on November 5, a source close to the matter said. There are two other crude units at the refinery. There are no other planned maintenance scheduled at the refinery for this year, the source added. Chennai Petroleum owns 2 refineries in Tamil Nadu with a combined capacity of 230,000 bpd. The other smaller refinery is located at Nagapattinam.
Suven Life Sciences Q2 net up 7-fold at R45.54 cr