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Journalism of Courage
Drug firm Aurobindo Pharma said its consolidated net profit rose by 9.81 per cent to Rs 188.63 crore for the third quarter ended December 31,2010.
The company had a net profit of Rs 171.77 crore in the same period last fiscal,Aurobindo Pharma said in a statement.
Net sales of the company rose to Rs 1,192.20 crore for the third quarter ended December 31,2010,compared to Rs 915.24 crore in the same period last fiscal.
“We continue to see a strong momentum in our formulations business with the scaling up of operations of the large formulations units in Jedcherla SEZ near Hyderabad,India and New Jersey,USA,” Aurobindo Pharma Chairman Ramprasad Reddy said in a statement.
The Hyderabad-based company filed 15 abbreviated new drug applications (ANDA) during the third quarter taking the cumulative filings to 200.
Aurobindo Pharma,during the quarter,has also filed 54 dossier filings in Europe,taking the cumulative filings to 906.
Last month,the company had announced to divest nearly 80 per cent of its stake in its loss-making Chinese subsidiary Aurobindo (Datong) Bio Pharma Co Ltd (ADBPL) to China National Pharmaceutical Group Corporation (Sinopharm).
“We have recently unlocked our non-core asset in China having a positive impact on our profitability and cash flows,” it added.
