MUMBAI, Feb 26 (Reuters) - Ranbaxy Laboratories Ltd
, India's top drugmaker by sales, reported a quarterly
net loss of 4.92 billion rupees ($91.30 million) after setting
aside 1.86 billion rupees towards costs that might arise due to
a product recall in the United States.
The drugmaker in November voluntarily recalled its
cholesterol lowering generic of Lipitor from the U.S. market
after it discovered contamination with tiny glass particles in
certain lots of 10mg, 20mg and 40mg doses of the drug.
Ranbaxy, controlled by Japan's Daiichi Sankyo Co,
said consolidated sales fell 28.8 percent to 26.71 billion
rupees in the fiscal fourth quarter ended December. The
drugmaker had reported a loss of 29.83 billion rupees over the
same period last year.
The drugmaker also reported 1.8 billion rupees of foreign
exchange loss in derivative tools, it said.
Analysts on average had estimated consolidated net profit at
1.44 billion rupees on net sales of 26.96 billion rupees,
according to Thomson Reuters I/B/E/S.
($1 = 53.89 rupees)
(Reporting by Kaustubh Kulkarni; Editing by Matt Driskill)