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Sun Pharma Profit Beats Estimates Buoyed by Specialty Drugs

  • Revenue climbed 11% while total costs rose 14%: filing
  • Shares jumped after the earnings were announced on Friday
Updated on

Sun Pharmaceutical Industries Ltd. reported a better-than-expected quarterly profit as sales of its specialty treatments in the US continued to bolster India’s largest drugmaker despite rising costs across the industry, as well as price erosion in the non-patented medicine market. 

Mumbai-based Sun Pharma posted a 43% gain in net income to 20.6 billion rupees ($260 million) for the quarter ended June 30, compared to the average profit estimate of 17.18 billion rupees based on a survey of analysts by Bloomberg.