Sun Pharma Q2 net falls 46.5 pct on Protonix provision

Last Updated: Thu, Nov 08, 2012 11:36 hrs
Mid-sized pharma margins to crimp despite sales

Sun Pharmaceutical Industries reported a 46.5 percent drop in quarterly net profit after it set aside 5.84 billion rupees ($108.02 million) towards a possible compensation in a patent dispute case related to drug Protonix.

The Mumbai-based drugmaker said consolidated net profit fell to 3.2 billion rupees during fiscal second quarter ended September from 5.98 billion rupees a year earlier. Net sales rose 40.2 percent to 26.57 billion rupees.

Analysts had estimated the net profit at 7.68 billion rupees, according to Thomson Reuters I/B/E/S.

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