News | November 15, 2022
SMS Pharma revenue down 9%
Within the API segment, ~20% of the revenues came from the domestic market and ~80% from the exports market
Within the API segment, ~20% of the revenues came from the domestic market and ~80% from the exports market
The company is focussed on increasing the capacity utilizations while controlling costs
First PARP inhibitor to demonstrate clinical benefit in radiographic progression-free survival in combination with a new hormonal agent with or without homologous recombination repair gene mutations
Q2 FY23 business performance has been slow primarily due to lower volume offtake from pharmaceutical manufacturers
The company hopes to build on this momentum in the coming quarters and continue to focus on our key brands to drive sustainable profitable growth
Investment in R&D was Rs. 337.6 crore (8.3% of sales) for Q2 FY2023 as compared to Rs. 330 crore (8.2% of sales) for Q2 FY2022.
Revenue from operations for the half year was Rs. 178.5 crore, declined by 23% whereas net profit for the half year was Rs. 16.9 crore, declined by 70%
Phase III trial also demonstrated a statistically significant reduction (14%) in hospitalization for any cause, bringing potential relief for patients and reducing burden on healthcare systems
Indigenously-developed molecular diagnostics have helped expand the reach of diagnosis to every part of the country today
Results reinforce commitment to next-generation oral SERD development programme
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