Headline results for the fourth quarter:
|Revenue||INR 80.8 billion ($1.1 billion)||+15|
|Profit||INR 4 billion ($53 million)||-37%|
Note: All changes are versus the prior-year period unless otherwise stated
What the company said:
Sun Pharmaceutical managing director Dilip Shanghvi said that during the quarter, "we have done well and have started gaining market share in India," noting that "our global specialty business has also gained reasonable traction with Ilumya, recording approximately $94-million sales globally in the first full-year of commercialisation."
However, Sun Pharma's profit in the quarter was hit by a one-time expenditure of INR 2.6 billion ($34 million). The company also made provision for INR 1.6 billion ($21 million) for a settlement with the US Department of Justice to resolve sales, marketing and promotion issues regarding Levulan and Blu-u products.
Meanwhile, Shanghvi indicated that Sun Pharma was "able to maintain business continuity [during the COVID-19 pandemic], so that patients continue to get access to their much-needed medications."
Sun Pharma stated that "despite our proactive COVID-19 risk response initiative, we do estimate some softening of sales in the near term due to the lockdown and stocking up by customers, although it is difficult to quantify the impact as of now."
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