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

Economic Pulse

REUTERS SHOWCASE

Apple Result

Apple Result

Apple's iPhone sales beat Street but iPad volumes slide.  Full Article 

Nadella's Paycheck

Nadella's Paycheck

New Microsoft CEO Nadella's pay tops $80 mln with big stock awards.  Full Article 

Deregulation Impact

Deregulation Impact

Private fuel retailers to dip toe, not dive back, into India  Full Article 

Airport Accident

Airport Accident

Total CEO de Margerie killed in Moscow plane accident - airport spokeswoman.  Full Article 

Gold Import

Gold Import

RBI will not change gold import rules - sources  Full Article 

Idea Results

Idea Results

Idea Cellular Q2 profit up 69 percent  Full Article 

An RBI First

An RBI First

RBI releases minutes of financial stability council's Aug meet  Full Article 

IBM Earnings

IBM Earnings

IBM ditches 2015 operating EPS target, shares slump 7 pct  Full Article 

Reuters India Mobile

Reuters India Mobile

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