India’s economy may have faltered but one sector that seems to be thriving is pharmaceuticals. Sun Pharma reported close to a 24% rise in net profits to $180 million on a 32% jump in sales to $547 million, beating market estimates. For the fiscal year ending March 2013, the company’s sales crossed $2 billion for the first time. Even Sun’s usually reticent founder Dilip Shanghvi was compelled to express himself in a press statement: “While it took us almost 27 years to record $1 billion in revenues, the next billion was added in just 3 years.”
Posted on: Thu, 11 Jul 2013 07:35:02 +0000
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