Ranbaxy reports Q2
GURGAON, India — Consolidated sales for generic drug maker Ranbaxy Labs totaled $588 million in the second quarter ended June 30, a 28% rise over the year-ago period, the company said.
The drug maker reported that North American sales soared 140% over the year-ago period to a total of $272 million, aided by strong base business. U.S. sales for Ranbaxy were $255 million for the quarter, thanks to strong base business and exclusivity sales of such drugs as atorvastatin and atorvastatin and amlodipine (Lipitor and Caduet, respectively).
Ranbaxy added that during the quarter, it fortified its dermatology portfolio with two approvals from the Food and Drug Administration: Absorica — a novel, patented brand formulation of the acne medication isotretinoin, developed by Cipher, for the treatment of severe recalcitrant nodular acne, which the company expects to launch by the end of 2012 — and Ximino, a novel, patented brand formulation for the treatment of moderate to severe non-nodular acne.
"Sales and profitability grew in the Quarter with overall improvement across major regions, aided further by exclusivity sales in some of the key markets," Ranbaxy managing director and CEO Arun Sawhney said. "We capitalized on our product focus approach with the successful monetization of the atorvastatin and atorvastatin + amlodipine opportunities. The strategy to build long-term, differentiated value drivers was rewarded with two NDA approvals in the dermatological space in the USA."