Lupin announces profit rise of 38%

Lupin, a pharmacy products manufacturer, has posted its financial details for 2009, revealing a 38 per cent rise in profits.

The firm revealed that its net sales grew by 31 per cent to 12,554 million Indian rupees (171,529 pounds) during the final quarter of the year – a rise from the 9,618 million Indian rupees reported during the same period of 2008.

Additionally, the company’s net profits grew by 38 per cent to 1,606 million Indian rupees, compared to 1,165 million Indian rupees in the correlating timeframe of the previous year.

Dr Kamal Sharma, managing director of Lupin, stated that the organisation has experienced a “great” quarter.

“We have not only turned out strong business growth, but also made significant strides on the quality, compliance and research and development fronts,” he explained.

In other company news, Lupin announced last week that its memantine hydrochloride tablets, which are to be marketed under the name Namenda, have received tentative approval from the Food and Drug Administration.