NACTO Records Higher Profits
Aug 12th 2011
Hyderabad based NATCO Pharma Limited had recorded increased profits for the first quarter (April 2011 - June 2011) of the current fiscal 2011-12.
The consolidated revenues for the quarter ended 30th June, 2011 stood at Rs 123 Crores and would have been higher, but for the sale of one of the retail pharmacy stores in the USA. However, the profit after tax grew by over 32% - from Rs.1059 Lakhs (same quarter last year) to Rs.1403 Lakhs (current year).
The Company recorded an earnings per share of Rs.4.98 (non-annualized basis).
During the current quarter, the company had filed an ANDA for Lapatinib Ditosylate 250mg tablets. The company believes that it has a first -to-file opportunity for this product. The sales of this product amounted to over US $ 114 Million last year. The company has tied-up with Lupin Limited for supply and marketing of this product.
With this product, the Company has five para IV challenges, out of which four products are with a first-to-file opportunity.