Sun Pharma raises FY13 sales guidance to 20-22 pct

Thu Nov 8, 2012 4:50pm IST

Related Topics

Stocks

   

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

Public Health

REUTERS SHOWCASE

Airtel Profit Jumps

Airtel Profit Jumps

Bharti Q2 net profit more than doubles   Full Article 

Maruti Earnings

Maruti Earnings

Maruti Suzuki net profit up 29 percent, beats estimates.  Full Article 

ICICI Results

ICICI Results

ICICI Bank Q2 profit up 15 percent, beats estimates.  Full Article 

Cost Cutting

Cost Cutting

PM Narendra Modi boots officials out of the first class cabin  Full Article 

Market at Record

Market at Record

Sensex, Nifty hit record highs; reforms outpace hawkish Fed.  Full Article 

Moody's on India

Moody's on India

Moody's welcomes India's policy steps, but wants to see more.  Full Article 

End Of QE

End Of QE

U.S. Fed ends bond buying, exhibits confidence in U.S. recovery.  Full Article 

Samsung Results

Samsung Results

Smartphone woes drag Samsung Elec Q3 profit to more than 3-year low.  Full Article 

Refining Margins

Refining Margins

BPCL aims to double refining margins with refinery expansion.  Full Article 

Reuters India Mobile

Reuters India Mobile

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