Mankind Pharma's Q4 Profit Rises on Strength in Chronic Drugs Segment

India Pharma Outlook Team | Thursday, 16 May 2024

 pharmaceutical firm, chronic drugs, India Pharma Outlook

Mankind Pharma, a pharmaceutical firm, posted more than 65% in its final quarter profit, assisting areas of strength by request in its chronic drugs segment. The organization has also sanctioned a fundraising of up to 75 billion rupees or an identical sum by issuing offers under the qualified institutional situation, as stated in a trade document.  

The firm, which makes intense and ongoing therapeutics, including those hostile to infectives and enemies of people with diabetes, posted solidified benefit at 4.71 billion rupees (about $56 million) for the three months finished March 31, contrasted and 2.85 billion rupees a year sooner.

The organization, likewise one of India's condom creators, saw its income from tasks rise almost 19% to 24.41 billion rupees, driven by a 10 percent expansion in its constant treatment business income. The organization's chronic drug segment makes cardiovascular and diabetic medications. During the quarter, Humankind entered into a contract with AstraZeneca Pharma for elite appropriation of asthma medication for patients in India.

"We have further strengthened our chronic product portfolio with strategic in-house launches, coupled with the in-licensing of products like Symbicort—a globally renowned inhaler from AstraZeneca," Managing Director Rajeev Juneja said in a statement.

Its popular consumer healthcare business segment, which houses Manforce condom and Prega News pregnancy detection kit, saw 2.9 per cent growth in revenue. Mankind's revenue from trade business jumped threefold during the quarter, "aided by one-off opportunities in the United States".

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