Latest news with #IndianPharma
Reuters
21-05-2025
- Business
- Reuters
India's Mankind Pharma beats profit estimates on demand for drugs to treat chronic illnesses
May 21 (Reuters) - Indian drugmaker Mankind Pharma ( opens new tab reported a fourth-quarter profit that beat analysts' estimates on Wednesday, driven by strong domestic demand for its drugs to treat long-term illnesses. The company, which makes 'Gas-O-Fast' antacid tablets and 'Manforce' condoms, reported a 10.7% drop in consolidated net profit of 4.21 billion rupees ($49.2 million) for the quarter ended March 31. However, that was higher than analysts' average estimates of 3.60 billion rupees, according to data compiled by LSEG. Overall revenue climbed 27% to 30.79 billion rupees. Its domestic market share of chronic illness drugs increased to 39.2% from 37.5%. For further earnings highlights, click KEY CONTEXT The Indian pharmaceutical market grew 7% during the quarter, led by a 9% jump in the chronic segment, according to IQVIA data. This benefitted Mankind Pharma and its peer Torrent Pharma ( opens new tab, which rely on their drugs to treat long-term conditions, such as diabetes and hypertension, for most of their sales. Moreover, Mankind said gains from its $1.6 billion acquisition of Bharat Serums and Vaccines, further boosted results. Torrent Pharma ( opens new tab, however, missed quarterly profit estimates due to currency depreciation in Brazil. PEER COMPARISON * The mean of analysts' ratings standardised to a scale of Strong Buy, Buy, Hold, Sell, and Strong Sell ** The ratio of the stock's last close to analysts' mean price target; a ratio above 1 means the stock is trading above the PT JANUARY TO MARCH STOCK PERFORMANCE -- All data from LSEG -- $1 = 85.5320 Indian rupees
Reuters
13-05-2025
- Business
- Reuters
India's GlaxoSmithKline Pharma reports profit rise on strong demand
May 13 (Reuters) - India's GlaxoSmithKline Pharmaceuticals ( opens new tab reported a higher fourth-quarter profit on Tuesday, led by steady demand for its generic drugs. The Indian unit of British drugmaker GSK (GSK.L), opens new tab reported consolidated profit of 2.63 billion rupees ($30.86 million) in the quarter ended March 31, up 35% year-on-year. Its revenue from operations climbed about 5% to 9.74 billion rupees. For further results highlights, click KEY CONTEXT GlaxoSmithKline Pharma has been benefitting from rising market share for its antibiotic Augmentin and respiratory drugs Nucala and Trelegy. Strong demand for its shingles vaccine, Shingrix, has also boosted earnings, the company said. These have also helped it mitigate the impact of pricing curbs on some of its drugs that have been on the Indian government's essential medicines list since September 2022. PEER COMPARISON * The mean of analysts' ratings standardised to a scale of Strong Buy, Buy, Hold, Sell, and Strong Sell ** The ratio of the stock's last close to analysts' mean price target; a ratio above 1 means the stock is trading above the PT JANUARY TO MARCH STOCK PERFORMANCE -- All data from LSEG -- $1 = 85.2150 Indian rupees
Reuters
13-05-2025
- Business
- Reuters
India's Cipla beats quarterly profit view on strong demand
May 13 (Reuters) - Cipla ( opens new tab, India's No. 3 drugmaker by sales, reported a fourth-quarter profit that beat estimates on Tuesday, helped by strong demand for its generic respiratory drugs. The company's consolidated net profit came in at 12.22 billion rupees ($143.5 million) in the January-March period. Analysts, on average, expected 10.24 billion rupees, per data compiled by LSEG. ($1 = 85.1560 Indian rupees)
