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May 30, 2011

Taro Acquisition Boosts Sun Performance

Indian pharmaceutical firm Sun Pharma's Q4 2010 performance was boosted by its acquisition of Taro in September 2010, contributing one third of the company's consolidated net sales. Taro registered strong growth in sales and improvement in margins, causing Sun to post a 35% rise in n

By cms admin

Indian pharmaceutical firm Sun Pharma’s Q4 2010 performance was boosted by its acquisition of Taro in September 2010, contributing one third of the company’s consolidated net sales.

Taro registered strong growth in sales and improvement in margins, causing Sun to post a 35% rise in net sales and 12% growth in net profit.

Sun suffered a number of set backs, including falls to its existing product range in the US, and the costs incurred relating to the resolution of US Food and Drug Administration (FDA) regulatory issues surrounding Taro’s Canadian facility are yet to be released.

Positive results, coupled with expectations of 25 new drug applications to the FDA, has led to the company proposing an aggressive guidance of 28-30% growth in net sales for 2012, with the company also noting that it will continue to scout for acquisitions in Europe and other emerging markets.

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