Sun Pharma records growth of 13.1 percent over Q2 last year. The gross sales reached at Rs. 108,092 million. In this quarter, the company launched 34 new products in the Indian market.
Sun Pharma market share has increased by 0.5 pc to 8.6 pc over the last one year, as per AIOCD AWACS MAT Sept-2022 report. As per SMSRC MAT August-2022 report, Sun Pharma is topped in prescriptions with 12 different doctor categories.
Sales of formulations in India for Q2FY23 were at Rs. 34,600 million, up 8.5 pc over Q2 last year. India formulation sales accounted for about 32 pc of total consolidated sales. For the first half, sales were at Rs. 68,471 million, up 5.4 pc over H1 last year.
Dilip Shanghvi, Managing Director of the Company said, “For Q2, we recorded double-digit topline growth and strong margins driven by market share gain in India, sustained ramp-up of our global specialty business and growth in Emerging Markets. Global specialty business has grown by 27.5 pc driven by Ilumya, Cequa and Winlevi. We continue to focus on expanding our global specialty business and growing all our businesses.”
Formulation sales in the US were USD 412 million recording a growth of 14.1 pc over Q2 last year; accounting for over 30 pc of total consolidated sales. For the first half sales were USD 833 million recording a growth of 12.4 pc over the same period last year.
Taro, US subsidiary of Sun Pharma, reported a net loss of USD 2.8 million. For the first half, sales were USD 287 million, up by 2.9 pc over H1 last year. Net profit for H1FY23 was USD 11.3 million compared to USD 4.6 million in H1FY22.
Formulation sales in Emerging Markets were at USD 259 million for Q2, a growth of 6.7 pc over Q2 last year and accounting for about 19 pc of total consolidated sales for the quarter. For the first half, sales were USD 504 million, up by 9.5 pc over the first half last year.
Rest of World formulation sales at USD 181 million, lower by about 3.8 pc over Q2 last year, impacted by adverse currency movements.
