2024-11-13 19:09:34 :
Mumbai: AstraZeneca Pharmaceuticals India Ltd reports profit after tax $510 million in Q9FY25, down 10% year-on-year.
The pharmaceutical giant’s operating income increased 31% year-over-year $408 Crores.
The company’s growth is driven by its product portfolio in oncology, biopharmaceuticals and rare diseases, Chief Financial Officer Bhavana Agrawal said in a press release on Wednesday.
“The company’s growth stems from our ambition to bring innovative medicines to the country more quickly to address unmet patient needs,” she said.
The Indian arm of the British-Swedish drugmaker recently announced the launch of several new products. Palivizumab, trade name Synagis, is used to prevent severe lower respiratory tract disease caused by respiratory syncytial virus (RSV) in high-risk children and will be launched in October 2024.
The company announced the launch of the product in September after receiving import and marketing approval from the Drug Controller General of India (DGCI) in September 2023.
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The pharmaceutical company also launched Tremelimumab (Imjudo), a drug used to treat certain types of cancer, in October.
The company has received permission from the Central Drugs Standard Control Organization to market and distribute its drug durvalumab (Imfinzi). Durvalumab is used in combination with chemotherapy and as monotherapy after surgery to treat patients with resectable tumors 4 cm or larger and node-positive lung or lymph node cancer.
Sanjeev Panchal, President and Managing Director, AstraZeneca Pharmaceuticals India Ltd., said: “We continuously strive to expand access to innovative therapies, progressive access strategies and empower India’s healthcare system Be resilient.”
During the first half of the fiscal year, the company reported consolidated operating income of $795.5 billion, an increase of 31% over the first half of FY24.
Company stock as of $Today, 7,194 shares were traded on the National Stock Exchange, down 2.84% from the previous close.
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