Earnings in the first quarter reduced U.S. business, analysts cautious


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Most analysts have downgraded or expect limited growth Lupine Ltd., citing uncertainty and decline in U.S. business.

The net profit of drug manufacturers rose 18% consecutively to 542.5 million rupees in the quarter ended June, according to exchange data. That’s compared to an analyst’s profit estimate of $ 474.4 million tracked by Bloomberg.

The conclusion of India’s sixth-largest pharmaceutical company helped the $ 373.4 million ($ 50 million) received from Boehringer Ingelheim successfully achieve key milestones for its clinical phase of MEK inhibitor compounds, the company said.

  • Revenue increased by 13% to HRK 4,237.4 million. Analysts expected HRK 4,178.6 million.

  • Ebidta increased 31% to HRK 894.8 million compared to an estimated HRK 884.1 million.

  • The margin rose to 21.1% from 18.2%, compared to an estimate of 21.2%.

Other highlights (QoQ)

  • Sales in India increased by 27.2% to HRK 1,636.2 million, contributing 42% to total sales (excluding licensing revenue).

  • US business decreased by 10.8% to HRK 1.333 million, which is 35% of total revenue.

  • Lupine’s sales in Europe, the Middle East and Africa fell 30.3%, contributing 7% of total revenue.

  • Bulk narcotics business fell 3.8% in the quarter.

The company remains committed to growing U.S. business through existing products and increasing Albuterol and Brovana (both drugs to treat respiratory problems), said Nilesh Gupta, Lupine’s CEO, in a earnings report.

Here’s what brokerage houses have to say about Lupine’s performance in the first quarter of 2016:

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