India’s Cipla misses second-quarter profit view on muted US sales

Oct 27 (Reuters) – Cipla, India’s third-largest drugmaker by revenue, missed second-quarter profit estimates on Tuesday, as muted sales of generic Revlimid and stiff competition weighed on its US business.

The company’s consolidated net profit fell to 8.78 billion rupees ($92.2 million) in the quarter ended September 30, from 13.51 billion rupees a year ago.

Analysts, on average, had expected profit to fall to 9.42 billion rupees, according to data compiled by LSEG.

(Reporting by Kashish Tandon in Bengaluru; Editing by Jochelle Mendonca)

Brought to you by www.srnnews.com

Click here to read the full article