Ranbaxy reports double-digit sales growth in Q3 2010

Ranbaxy has published its financial results for the third quarter of 2010, a period which saw the generic pharmaceuticals specialist experience year-on-year growth.

The firm's consolidated sales total for the quarter came to $406 million (251.6 million pounds), up by 13 percent on the same period of last year, while net margins also saw an improvement in the same time frame.

This was attributed to strong sales of Valacyclovir and business expansion in a number of key territories, while the company also achieved 47 new regulatory approvals in the last three months.

It has also been able to work more closely with Daiichi Sankyo, which took control of Ranbaxy's new drug discovery research operations in July 2010.

Arun Sawhney, managing director at Ranbaxy, said: "Our key markets continued to perform well, attributable in large measure to balanced sales across geographies. This has also been aided by the favourable forex movement."

Mr Sawnhey has occupied this position with the company since August 2010, when he replaced Dr Atul Sobti in the role.