Sun Pharmaceutical Industries Limited : Sun Pharmaceutical Expects This Fiscal Year Consolidated Sales To Grow 18%-20%
05/30/2012| 01:45am US/Eastern
Sun Pharmaceutical Industries Ltd. (524715.BY) expects consolidated sales for the current financial year to grow 18%-20% over last year, its managing director said Wednesday.
India's biggest drug maker by market value Tuesday reported sales of INR80.06 billion for the financial year ended March 31.
Dilip Shanghvi also said that the company has a capital expenditure outlay of INR5 billion for this fiscal year, which could be used to expand existing facilities as well as for setting up new ones.
Research and development expenses for the year are estimated to be between 6% and 8% of net sales, he said on a conference call with analysts.
Shanghvi added that the company plans to file 25 generic-drug applications with the U.S. regulator this year.
Generic-drug pleas for 147 products are awaiting approval from the U.S. Food and Drug Administration.
-By Rumman Ahmed, Dow Jones Newswires; 91-9845104173; email@example.com