The company's quarterly performance relied heavily on its India formulation business, which expanded 17.3% to ₹5,552 crore and generated over a third of total revenue. Meanwhile, formulation sales in the United States dropped 8.2% to $455 million, though the region still represents roughly 27% of overall sales. Strategic progress continued with European pre-launch preparations for lerodalcibep alongside advanced regulatory clearances for the Organon acquisition. Research and development investments absorbed ₹778 crore, representing 4.8% of total revenue during the period.
Key points
Domestic formulation strength served as the primary buffer against a notable sales drop i…: Domestic formulation strength served as the primary buffer against a notable sales drop in the crucial United States market.
Ongoing expansion into specialty segments advanced with the U.S. approval of Ilumya for a…: Ongoing expansion into specialty segments advanced with the U.S. approval of Ilumya for active psoriatic arthritis and pre-launch work for lerodalcibep.
Management considers the developing GLP-1 segment a multi-year effort where capturing eve…: Management considers the developing GLP-1 segment a multi-year effort where capturing even a minor patient share yields substantial market value.
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India's largest drug maker reported an 11.8% year-on-year increase in consolidated revenue to ₹16,100 crore for the second quarter driven by growth in India and emerging markets. Adjusted net profit was ₹3,162 crore. Earnings before interest, taxes, depreciation and amortisation (Ebitda) increased 4.8% to ₹4,744 crore, with the operating margin contracting to 29.3% from 31.3% a year earlier.
India formulations was a key growth driver, with sales rising 17.3% to ₹5,552 crore. The domestic business accounted for 34.5% of consolidated sales during the quarter. The company's performance in emerging markets was also strong, with formulation sales increasing 7.6% to $350 million. Sales in other international markets grew 3.1% to $241 million. However, US formulation sales declined 8.2% to $455 million, accounting for around 27% of consolidated revenue. The US business remains a key market for the company's generics portfolio, alongside its expanding innovative medicines business.
On the GLP1 market, Dilip Shanghvi, executive chairman, Sun Pharma, said: "Usually our experience says it takes 3-4 years to build a product. So, GLP-1 will also go through that phase. But even if you…
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