Sun Pharma raises FY13 sales guidance to 20-22 pct

Thu Nov 8, 2012 4:50pm IST

Related Topics

Stocks

   
Priyanka Gandhi Vadra, daughter of Congress party chief Sonia Gandhi, adjusts her flower garlands as she campaigns for her mother during an election meeting at Rae Bareli in Uttar Pradesh April 22, 2014. REUTERS/Pawan Kumar

Election 2014

More than 814 million people — a number larger than the population of Europe — are eligible to vote in the world’s biggest democratic exercise.  Full Coverage 

REUTERS - Sun Pharmaceutical Industries (SUN.NS), India's top drugmaker by market value, said it has raised its sales growth guidance to 20-22 percent for the fiscal year ending March 2013.

The drugmaker had said in May sales would grow 18-20 percent in FY13.

Sun Pharma reported a 46.5 percent drop in September quarter profit to 3.2 billion rupees after it set aside 5.84 billion rupees towards a potential compensation it might have to pay in a U.S. patent dispute related to drug Protonix.

Wyeth Pharmaceuticals, a unit of Pfizer (PFE.N), has the U.S. rights to sell Protonix.

Sun Pharma said on Thursday it has sound reasons to disagree with the "overstated claims" of Wyeth. The drugmaker said it believed the patent is invalid and unenforceable and that it will pursue all available legal remedies including appeals. (Reporting by Kaustubh Kulkarni in MUMBAI; Editing by Jijo Jacob)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

Telecom Sector

REUTERS SHOWCASE

Election 2014

Election 2014

Breakingviews: Singh wasn’t king, Modi could be  Full Article 

Quarterly Results

Quarterly Results

Ambuja net profit up 6.6 percent, expects recovery after elections  Full Article 

Conspiracy Lawsuit

Conspiracy Lawsuit

Apple, Google agree to pay over $300 million   Full Article 

Stock Split Trend

Stock Split Trend

Trend-setter Apple's stock split could bring out the copycats  Full Article 

Winning Start

Winning Start

Microsoft beats Wall Street on new CEO debut   Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage