Sun Finds US ‘Challenging’
Indian Company Sees Third-Quarter Profit Slide By 26%
Sun Pharma’s Indian domestic operations posted strong sales in the third quarter, but this was not enough to prevent the company from reporting a 26% tumble in consolidated net profit in the face of a “challenging” US generics market and slow approvals for complex products.
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Sun’s key specialty asset Ilumya makes progress, albeit slowly, in the US, while the firm sees ‘short window’ to ensure that Absorica LD gains grip in that market ahead of impending arrival of generic.
Sun expects interleukin-23-targeting drugs to stay a preferred treatment option for psoriasis in the US and saw some sales uptick for its Ilumya in that market in Q2, although it isn’t keen on an auto injector option. Management was also upbeat on prospects in China and Japan.
Sun Pharma has expanded its added-value medicines range for US long-term care residents by launching Drizalma Sprinkle duloxetine delayed-release capsules while it has also introduced novel Cequa cyclosporine eye drops.