Tags: Vadodara , Alembic

Vadodara: Drugmaker Alembic posted net profit of Rs 13 crore in the second quarter ended September 30, down from Rs 15 crore in the same period of last year.

Net sales of the city-based pharma major dropped to Rs 284 crore in the period under review from Rs 348 crore in the same quarter last fiscal, a company release said here today.

Alembic filed an Abbreviated New Drug Application (ANDA) and two drug master filings (DMFs) to the US Food and Drug Administration (US FDA) in the second quarter of the current financial year, company Chairman Chirayu Amin said.

Talking about international business, Amin said export sales for the September quarter was Rs 99 crore, down from Rs 128 crore in corresponding period of the previous year.

Formulation sales to regulated markets in the second quarter rose 60 per cent to Rs 36 crore from Rs 23 crore in the same period in FY 09 due to new product launches in US market, he stated.

Amin said domestic formulations sales stood at Rs 163 crore against Rs 193 crore in corresponding period of FY 09.

Alembic is making continuous investments in domestic branded business, particularly in speciality segments, but its potential is yet to be fully realised, Amin said.

However, the encouraging sign is that while pharma industry grew by 14 per cent, Alembic's growth was 23 per cent, he said.

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