India’s Sun Pharma’s profit rises on strong sales of generic cancer drug
A man walks past the logo of Sun Pharmaceutical Industries Ltd. outside its research and development centre in Mumbai, India, May 25, 2018. REUTERS/Francis Mascarenhas/File Photo Acquire Licensing Rights
HYDERABAD, Nov 1 (Reuters) – Sun Pharmaceutical Industries (SUN.NS), India’s largest drugmaker by revenue, reported a 5% rise in second-quarter profit on Wednesday, driven by strong sales of its generic version of popular cancer drug Revlimid.
The company’s consolidated net profit after tax rose to 23.76 billion rupees ($285.37 million) for the quarter ended Sept. 30, from 22.62 billion rupees a year earlier.
($1 = 83.2601 Indian rupees)
Reporting by Rishika Sadam in Hyderabad; Editing by Sonia Cheema
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