Sun Pharmaceutical Industries Limited Q3 FY23 gross sales at Rs. 11,100.1 crore, growth of 13.1% over Q3 last year whereas Q3 net profit at Rs. 2,166 crore up 5.2% YoY.

India formulation sales at Rs. 3,391.9 crore, up 7.1% over Q3 last year whereas US formulation sales at US $422 million, up 6.3% vs Q3 last year. Global specialty sales at US $235 million, including US $12.5 million milestone received in Q3. Ex-milestone, up 21.6% vs Q3 last year.

Global specialty sales, ex-milestone, accounted for 16.5% of Q3 FY23 overall sales. Emerging Markets formulation sales at US $257 million, up 7.7% vs Q3 last year. Rest of World formulation sales at US $189 million, up 4.8% vs Q3 last year. R&D investments at Rs. 670.2 crore compared to Rs. 547.1 crore for Q3FY22.

The board has declared an interim dividend of Rs. 7.50 per share for the year FY23 against Rs. 7 per share interim dividend for the previous year.

Dilip Shanghvi, Managing Director, Sun Pharma said, “Specialty is expected to continue as a key growth driver for Sun. We are investing to scale up this business, especially in our core therapy areas. Proposed Concert acquisition is a step forward in this direction. Concert’s lead asset, deuroxolitinib has a potential best-in-class profile in Alopecia Areata, an area of dermatology with high unmet need. We are excited to offer this new treatment option to dermatologists worldwide. Given our commercial strength, we would be well-positioned to bring this product to market."

Our R&D efforts span across both specialty and generic businesses and we continue to invest in building the pipeline for various markets including the US, Emerging Markets, RoW Markets and India. Our specialty R&D pipeline includes 4 molecules undergoing clinical trials. We have a comprehensive product offering in the US market consisting of approved ANDAs for 517 products while filings for 96 ANDAs await US FDA approval, including 28 tentative approvals. For the quarter, 4 ANDAs were filed. Additionally, the portfolio includes 54 approved NDAs while 13 NDAs await US FDA approval.