Home / Business / Money / Sun Pharma’s Taro Q3 net income jumps 28.7% to $142.5 m

Sun Pharma’s Taro Q3 net income jumps 28.7% to $142.5 m

Taro Pharmaceutical Industries, a subsidiary of Sun Pharma, has reported a 28.7 percent growth in bottomline during October-December quarter at USD 142.5 million on yearly basis. The bottomline growth was driven by revenue, gross margin and cost containment.

The News International Team

Taro Pharmaceutical Industries, a subsidiary of Sun Pharma , has reported a 28.7 percent growth in bottomline during October-December quarter at USD 142.5 million on yearly basis. The bottomline growth was driven by revenue, gross margin and cost containment.

Net sales of the drug maker grew 11.3 percent year-on-year to USD 237.7 million with a volume decrease across all markets, say the company’s statement.

Operating income jumped 18.1 percent to USD 159.3 million in December quarter compared to USD 134.9 million in same quarter last fiscal.

Research and development expenses decreased USD 2.3 million to USD 12.8 million while selling, marketing, general and administrative expenses remained relatively flat at USD 21.3 million during the quarter.

Recently, the company received an approval for an abbreviated new drug application (ANDA) Diclofenac Sodium Topical Solution, 1.5 percent and filed one ANDA with the US Food and Drug Administration. With this, ANDAs representing thirty products await FDA approval, says Taro.

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