Ranbaxy reports record global sales in 2011

Ranbaxy has announced its financial results for 2011, a year that saw the company achieve a record-breaking fiscal performance.

The pharmaceutical company achieved an annual sales total of $2.11 billion (1.33 billion pounds), up from $1.87 billion the previous year, with a strong fourth quarter performance playing a key role.

Over the last 12 months, Ranbaxy has been able to successfully introduce Atorvastatin – a generic version of the blockbuster Pfizer drug Lipitor – in the US, while addressing key legal issues and making efficiency improvements.

It was also able to strengthen its working relationship with parent company Daiichi Sankyo, sharing product rights and embarking on new social contribution projects in poorer nations.

Arun Sawhney, chief executive officer and managing director of Ranbaxy, said: "I am delighted to share with you that Ranbaxy is the first pharma company of Indian origin to have surpassed sales of $2 billion."

This month, the company also announced the presentation of several prizes to Indian researchers and science scholars at its XXVI Annual Research Awards.