About My Health Careers Internship MedBlogs Contact us
Medindia LOGIN REGISTER
Advertisement

Ranbaxy Continues to Be the Leader in Indian Market

by Gopalan on July 29, 2008 at 10:50 AM
Font : A-A+

 Ranbaxy Continues to Be the Leader in Indian Market

Ranbaxy Laboratories, Indian pharma giant, defying problems on various fronts, has managed to retain its position as the leader in the Indian market.

The US government's legal move against Ranbaxy for allegedly selling adulterated drugs in the US could expose the company to an investigation back home too, Business Week had recently reported.

Advertisement

Concerned whether shareholders in the company were kept in the dark about potential risks or were given a rosier picture of the state of affairs, the Indian government is set to examine the charges levelled by US authorities and the company's statutory documents, the magazine had said.

Only recently Ranbaxy had sealed a multi-billion dollar mergel deal with the Japanese MNC Daiichi Sankyo.

If the company's documents show that the drug-maker has not taken its shareholders into confidence about the risks involved, a full-fledged investigation into the affairs of the company would follow. "We are keeping close tabs on the developments and would look into this issue," said a top government official.
Advertisement

Whatever might happen in the future, right now Ranbaxy remains firmly as the market leader in retail sales in India, with a share of 5.2% for the April-June quarter. It also maintained the top slot in each of the past three months, with a share of 5% in June, higher than last year's market leader Cipla's share of 4.9% during the same month. 
  
During the April-June quarter, Cipla occupied the second slot with a share of 5.1%, growing by 9%. While Ranbaxy registered the highest growth of over 18% during the quarter, while in June alone, it had a growth of over 15%, reports Rupali Mukherjee in Times of India.

One of the major growth drivers during the second quarter was the sale of anti-infective drugs, which registered a huge spurt due to the "freak" weather conditions — a short winter and an early onset of rains in the north. 

The primary growth drivers for anti-infectives were semi-synthetic penicillins (such as ampicillin, amoxycillin), quinolones and highend injectables. "A shorter winter season coupled with an increase in the incidence of viral infections where anti-infectives have led to the boost in the growth of these segments, and for Ranbaxy", a company official said. 

Companies that have a strong portfolio of anti-infectives got a leg-up in sales during the period, industry experts say. 

Ranbaxy Laboratories, Dr Reddy's Laboratories and Cipla Ltd have seen export sales surge on generic versions of brand-name drugs after the expiry of patents, a recent survey by Reuters showed.

The survey found net profit at Ranbaxy, India's largest drugmaker by sales, more than doubled to Rs 1.07 billion ($21.9 million) in the latest quarter compared with a year earlier, on a 34 per cent rise in sales to Rs 6.67 billion.

Analysts said Ranbaxy's profits have been driven by sales of a generic version of GlaxoSmithKline's antibiotic Ceftin.

Ranbaxy has gained a 50-55 per cent market share in the United States for the drug since March after winning a patent battle with GlaxoSmithKline, analysts say. Analysts said Ranbaxy's bottom line could be bolstered by a $6.3 million upfront payment received for licensing its prostrate drug to Germany's Schwarz AG.

Cipla's exports, which have surged in recent quarters, show signs of continuing the trend, analysts said. "Cipla's exports are rising because it is expanding its markets for bulk drugs," said  C Srihari, analyst with Khandwala Securities.

The company has forecast exports will cross Rs 6 billion this year from Rs 4.96 billion last year.

Source: Medindia
GPL/L
Advertisement

Advertisement
News A-Z
A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
Advertisement
News Category
What's New on Medindia
International Day of Persons with Disabilities 2021 - Fighting for Rights in the Post-COVID Era
Effect of Blood Group Type on COVID-19 Risk and Severity
Woman with Rare Spinal Cord Defect from Birth Sues Doctor
View all

Medindia Newsletters Subscribe to our Free Newsletters!
Terms & Conditions and Privacy Policy.


Recommended Reading
Find Pharmaceutical 
Medindia provides you a extensive list of indian pharmaceuticals, which is the largest database ......
Indian Opposition Leader Denounces Ranbaxy Merger With Japanese Multi-national
L.K.Advani, a possible Prime Ministerial candidate after next year's national elections, has ......
Indian Generic Manufacturers in Trouble in US, Charged With Falsifying Records
India's pharma giant Ranbaxy has been charged with falsifying records and marketing poor quality ......

Disclaimer - All information and content on this site are for information and educational purposes only. The information should not be used for either diagnosis or treatment or both for any health related problem or disease. Always seek the advice of a qualified physician for medical diagnosis and treatment. Full Disclaimer

© All Rights Reserved 1997 - 2021

This site uses cookies to deliver our services. By using our site, you acknowledge that you have read and understand our Cookie Policy, Privacy Policy, and our Terms of Use