ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print
Pharmaceuticals

Sun Pharmaceutical profit slumps on weak US sales

Smaller rival Lupin posts surprise quarterly loss

Indian pharmaceutical companies are contending with a difficult operating environment in the U.S., where prices have fallen amid increased approval rates for generics.   © Reuters

MUMBAI (NewsRise) -- Sun Pharmaceutical Industries reported a more than 26% slump in third-quarter profit as weak U.S. sales and shrinking foreign exchange gains damped the top Indian drugmaker's performance.

Indian pharmaceutical companies are contending with a difficult operating environment in the U.S., where prices have fallen amid increased approval rates for generics while competition intensified. Sun, backed by billionaire Dilip Shanghvi, has been steering its business away from cheap copycat generics to specialty and branded drugs, as well as keeping a check on its costs and diversifying into new markets such as China. It is investing millions of dollars in new drugs in dermatology, ophthalmology, and oncology.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more