US Sales Boost Ajanta
Company Reports ‘Blowout’ 61% Profit Jump In Q3
India’s Ajanta Pharma has announced what analysts called “blowout” third-quarter numbers following a string of weaker quarterly performances.
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India’s Ajanta has reported a 7% drop in second-quarter net profit with its African branded generics remaining a problem area. However, US sales climbed by nearly 40% and analysts remain positive on the company’s outlook, buoyed by a beat on revenue estimates.
Ajanta Pharma’s managing director Yogesh Agrawal has revealed that going forward, the US generics business “will be a key focus market” for the Indian firm. He also reiterated the company’s previous plans to focus on the branded generics business in India and also in Emerging Markets (Generics bulletin, 11 May 2018, page 8).
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