Solar Pharma reported a rise of 11% in product sales to Rs 12,031 crore with a 5% leap in internet revenue to Rs 2,375.5 crore for the second quarter ended September. India formulation gross sales had been up by 11% to Rs 3842.5 crore, whereas these within the US elevated by 4.2% to $ 430 million.
World specialty gross sales stood at $240 million, up 19.3% vs second quarter (Q2) final yr, and accounted for 16.4% of Q2FY24 gross sales.
The corporate’s R&D investments stood at Rs 773 crore (6.4% of gross sales) in comparison with Rs 571 crore (5.3% of gross sales) for Q2 final yr. EBITDA margin for Q2 was at 26.1% vs 27% for Q2 final yr.
Solar Pharma managing director Dilip Shanghvi stated, “US FDA’s acceptance of deuruxolitinib NDA for therapy of average to extreme alopecia areata marks an vital milestone. There are restricted therapy choices for alopecia areata and deuruxolitinib ought to make a significant distinction in affected person lives, as soon as authorised. Equally, one other late stage candidate Nidlegy will doubtlessly complement our Odomzo franchise. Nidlegy’s latest constructive phase-3 knowledge in sufferers with domestically superior absolutely resectable melanoma positions us to offer affected person options throughout a broad spectrum of pores and skin cancers.”
World specialty gross sales stood at $240 million, up 19.3% vs second quarter (Q2) final yr, and accounted for 16.4% of Q2FY24 gross sales.
The corporate’s R&D investments stood at Rs 773 crore (6.4% of gross sales) in comparison with Rs 571 crore (5.3% of gross sales) for Q2 final yr. EBITDA margin for Q2 was at 26.1% vs 27% for Q2 final yr.
Solar Pharma managing director Dilip Shanghvi stated, “US FDA’s acceptance of deuruxolitinib NDA for therapy of average to extreme alopecia areata marks an vital milestone. There are restricted therapy choices for alopecia areata and deuruxolitinib ought to make a significant distinction in affected person lives, as soon as authorised. Equally, one other late stage candidate Nidlegy will doubtlessly complement our Odomzo franchise. Nidlegy’s latest constructive phase-3 knowledge in sufferers with domestically superior absolutely resectable melanoma positions us to offer affected person options throughout a broad spectrum of pores and skin cancers.”
