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Ranbaxy quarterly profits surge | Ranbaxy quarterly profits surge |
(3 days later) | |
India's largest drugs firm, Ranbaxy, has seen net profits surge by nearly 80% during the first quarter of 2007. | India's largest drugs firm, Ranbaxy, has seen net profits surge by nearly 80% during the first quarter of 2007. |
Profits increased to 1.29bn rupees ($29m, £14m). | |
Ranbaxy chief executive Malvinder Singh said the profits, better than expected, were down to increased sales in Europe and the United States. | Ranbaxy chief executive Malvinder Singh said the profits, better than expected, were down to increased sales in Europe and the United States. |
"I expect this growth to continue and accelerate through the year," he said. During 2006 Ranbaxy bought a string of firms in Europe and emerging markets. | "I expect this growth to continue and accelerate through the year," he said. During 2006 Ranbaxy bought a string of firms in Europe and emerging markets. |
The biggest was the Romanian pharmaceutical business Terapia, acquired in March of last year for $324m. | The biggest was the Romanian pharmaceutical business Terapia, acquired in March of last year for $324m. |
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