Alembic Q1 Results: Alembic Pharmaceuticals Limited reported its consolidated financial results for the first quarter ended 30 June, 2024. According to the company’s statement, the drugmaker reported a 12 percent rise in first-quarter profit on Thursday, led by strong demand for its generic drugs in its key market of North America.
The Net Sales were up by 5 percent to Rs.1562 crores and the EBITDA was up 14 percent to Rs. 239 crores.
“India Branded Business continues to work on improving the execution ability both in quality and scale. The Specialty and Animal health segment witnessed robust growth. The USFDA conducted an audit at our Formulation facility F1, without any observations, underscoring our dedication to compliance and quality. The US business grew by 18% during the quarter,” Shaunak Amin, MD, Alembic Pharmaceuticals Limited said in a statement.
According to the company’s statement, India Branded Business grew 9 percent to Rs. 572 crores for the quarter. It recorded robust growths in specialty therapies like Gynecology, Gastrointestinal, Anti Diabetic and Ophthalmology therapies and performed relatively better than the market in acute therapies.
Moreover, excess heat waves in Q1 FY 25 lead to unnatural market disturbances in affected geographies. Animal Health business grew 23 percent for the quarter with basket of strong brands driving outperformance. New launches continue to do well along with promising future launches across key segments, it stated.
In the International Business, the US Generics grew 18 percent to Rs. 461 crores for the quarter. Two Launches in the US market during the quarter. Ex-US International Formulations grew 2% to Rs. 271 crores for the quarter and it received 206 Cumulative ANDA approvals. Meanwhile, API business stood at Rs. 259 crores for the quarter.
