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Systematix Research Report
Sun Pharmaceutical Industries Ltd.'s topline grew at a healthy 11% YoY, led by 16% growth in U.S. formulations, 18% growth in the emerging market business, and 11% growth in the active pharma ingredient business.
India branded formulation sales saw subdued growth on account of a high base last year (Covid surge).
Sun Pharma's reported growth of 11% (QoQ) in Indian rupee terms in the U.S. was aided by full quarter impact of consolidation of Alchemee acquisition and currency appreciation. Currency appreciation added ~3%/5% to growth on a QoQ/YoY basis.
The U.S. base business was flat QoQ on constant currency basis. Strong QoQ growth in specialty assets (Ilumya, Cequa and Winlevi) and new complex generic launches including gPentasa, Loteprednol Etabonate and gAmbisome were offset by decline in Taro, gSutent and Levulan sales.
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