Sun Pharmaceutical Industries Ltd. became the top performer on the Nifty 50 index after analysts maintained their bullish investment recommendations for the nation’s largest drugmaker, citing a ramp up in sales of key specialty products and cost savings.
The company’s net profit rose 70% year-on-year to Rs 1,813 crore in the quarter ended September, aided by higher other income and lower expenses. Its revenue rose 5% over a year earlier to Rs 8,553 crore. Other expenses declined 3% to Rs 2,392 crore, while other income rose 28% to Rs 256 crore.
Sun Pharma’s global specialty sales rose 19% year-on-year and 38% sequentially to $108 million during the reported quarter on recovery across portfolio to pre-covid levels. Its specialty franchise comprises mainly dermatology and ophthalmology products. Ilumya (a treatment for moderate-to-severe plaque psoriasis), Odomzo (for cancer),…
