MUMBAI: With sales worth over Rs.4,000 crore, India's top 10 pharmaceutical companies achieve a net sales growth of 21 per cent during the year 2011-12 and over 25 percent of earnings before depreciation, interest, taxation and adjustments (EBDITA)growth. Provisions made by Ranbaxy and the US Department of Justice and forex adjustments lead to the a sharp profit decline by 46.3 percent to Rs.4,452 cr from Rs.8,288 cr in the previous year.
Ranbaxy Laboratories and Dr Reddy's Laboratories (DRL) have displayed consistency by maintaining first and second ranking in net sales, but Cipla dropped down from third to fifth position following Sun Pharmaceutical Industries and Lupin during 2011-12. Wockhardt moved to up to the seventh position from its eighth position last year.
The companies suffered a net profit decline of 46 per cent during 2011-12. Ranbaxy alone acquired a net loss of Rs.2, 900 cr against a net profit of Rs.1, 497 cr. The overall R&D expenses have gone up and these companies have received advanced ANDAs approvals from US FDA and other regulatory bodies during 2011-12.