Ranbaxy records growing sales in 2010

Ranbaxy has published its financial statement for the 2010 full-year period, noting double-digit improvements in sales and profits.

The generic drugs company's global sales total came to $1.89 billion (1.18 billion pounds) for the year, up by 23 percent compared to 2009, while profit after tax rose by 18 percent.

In the last 12 months, the firm has improved the efficiency of its manufacturing and moved towards a closer relationship with parent company Daiichi Sankyo, while also introducing key products such as Donepezil hydrochloride tablets.

Moving into 2011, Ranbaxy expects to achieve base case sales of around $1.87 billion for the year.

Arun Sawhney, managing director of Ranbaxy, said: "We have had a strong year attributable in large measure to the robust revenue growth in our key geographies and the realisations from our first-to-file opportunities in the US."

Mr Sawhney has acted as managing director of the company since August 2010, when he replaced the outgoing Atul Sobti in the role.