AUROBINDO PHARMA LIMITED - RESULTS FOR Q E DEC,2013 - OPTRG INCOME UP 36.3%; PAT UP 355%

Aurobindo Pharma Limited

3Q 2013-14 Unaudited Results

Consolidated Financials

during Q3FY2013-14 on Y-o-Y basis:

• Total Operating Income up by 36.3% to Rs.2140.6Cr (Rs.1570.1Cr)

• Operating Profit (EBIDTA) before Fx improves to 30.1% (16.5%)

• Operating Profit (EBIDTA) before Fx up 148.5% to Rs.643.8Cr (Rs.259.1Cr)

• PBT before Fx up by 220.7% to Rs.547.7Cr (Rs.170.8Cr)

• PAT up by 354.8% to  Rs.417.5Cr (Rs.91.8Cr)

• Basic & diluted EPS (not annualized) is Rs.14.34 and  Rs.14.32 respectively for the current quarter.

• Formulation Sales up by 57.5% to  Rs.1436.1 Cr (Rs.911.8 Cr)

• API Sales up by 12.8% to Rs.744.5 Cr (Rs.660.2 Cr)

• Formulations Sales constitute 65.9% (58.0%) and API 34.1% (42.0%) of gross sales

The EBITDA during the quarter has improved by 13.6% on Y-o-Y basis due to improved business mix resulting in decrease in materials consumption, staff costs other expenses to net sales by 9.1%, 0.9% and 5.6% respectively and decline in dossier income by 2.0%

Commenting on the Company’s performance, Mr. N. Govindarajan, MD of the company said:

“We have had a robust quarter driven by our sustaining base business along with successful launches in US, translating into better top and bottom line We are confident to sustain the momentum as we foray into strengthening our access into markets, products and technology platforms where we are not dominantly present as we consolidate on our existing businesses”

Global Regulatory Filings

Filings               Q3 FY13-14 :: Cumulative Filings

ANDAs (USA)               14             308

DMFs (USA)                 1               176

Formulations Dossiers in other key advanced markets (incl. Multiple registration into

EU. South Africa, Australia and Canada)81       1940

API DMF/COS filings in other key regulated markets ::28   :: 2214

Patents                        6              551

Following approvals in USA (188 cumulative approvals including 25 tentative by USFDA), South Africa (66 cumulative approvals by MCC-SA), Australia (47 cumulative approvals by TGA) and Canada (45 cumulative approvals by Health Canada)) were received during the quarter ended 31st December 2013:

USA

1. Acyclovir Sodium Injection 500mg/10mL (50mg/mL) & 1000mg/20mL (50mg/mL) (Treatment of Herpes, Shingles): Final

2. Bupivacaine Hydrochloride Injection USP 0.25% (2.5mg/mL), 0.5% (5mg/mL) & 0.75% (7.5mg/mL) (Anesthetic): Final

3. Finasteride Tablets USP 1mg (Benign prostatic hyperplasia): Final (Earlier TA)

4. Lamivudine+Tenofovir Disoproxil Fumarate Tablets, Co-packaged with Nevirapine Tablets USP 300mg/300mg/200mg (ARV): Final

5. Dextroamphetamine Saccharate, Amphetamine Aspartate, Dextroamphetamine Sulfate & Amphetamine Sulfate Tablets 5mg, 7.5mg,

10mg, 12.5mg, 15mg, 20mg & 30mg (ADHD and Narcolepsy): Final

6. Duloxetine Hydrochloride Delayed Release Capsules 20mg, 30mg & 60mg (CNS): Final

South Africa

1. Fluconazole Capsules 50mg, 100mg, 150mg, 200mg

2. Escitalopram Oxalate Tablets 5mg, 10mg, 20mg

Australia

1. Candesartan/Hydrochlorothiazide Tablets

16/12.5mg, 32/12.5mg and 32/25mg

Canada

1. Sildenafil Tablets 25mg, 50mg, 100mg

2. Valsartan Tablets 40mg, 80mg, 160mg, 320mg

3. Lamivudine/Zidovudine Tablets 150/300mg

4. Pantoprazole Gastro Resistant Tablets 40mg

5. Clopidogrel Tablets 75mg

6. Efavirenz Tablets 600mg

About Aurobindo Pharma Limited:

Aurobindo Pharma Limited (www.aurobindo.com), headquartered at Hyderabad, India, manufactures generic pharmaceuticals and active pharmaceutical ingredients. The company’s manufacturing facilities are approved by several leading regulatory agencies like US FDA, UK MHRA, Japan PMDA, WHO, Health Canada, MCC South Africa, ANVISA Brazil. The company’s robust product portfolio is spread over 6

major therapeutic/product areas encompassing Antibiotics, Anti-Retrovirals, CVS, CNS, Gastroenterologicals, and Anti-Allergics, supported by an outstanding R&D set-up. The Company is marketing these products globally, in over 125 countries.

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SUVEN LIFE SCIENCES LTD - quarterly results - for Q3 FY 13-14(DEC,2013) - REVENUE UP 92%; PAT UP 370% YoY - EXCELLENT PERFORMANCE

SUVEN LIFE SCIENCES LTD

Financial Highlights

for the 3rd Quarter ended Dec’ 2013

·       Growth in revenue Rs 1203 Mn vs.Rs 628 Mn - Up by 92%

·       Growth in PAT Rs 364 Mn vs. Rs 78 Mn - Up by 370%

·       Growth in EBIDTA Rs 557 Mn vs. Rs 152 Mn - Up by 266%

·       EPS Stands at Rs.3.12 against Rs.0.66 in Q3 FY 13 (Rs.3.9 in previous Qtr).

·       The annualized EPS comes to Rs.3.12 x 4 = 12.48. Current market price is Rs.77. The PE Ratio comes to 6.17. The pace at which Suven is progressing with its sales, Profits and  new Products, it deserves much better valuations in the market.

Financial Highlights

for 9 months period ended Dec’ 2013

·       Growth in revenue Rs 3836 Mn vs.Rs 1837 Mn - Up by 109%

·       Growth in PAT Rs 1118 Mn vs. Rs 222 Mn - Up by 403%

·       Growth in EBIDTA Rs 1734 Mn vs. Rs 401 Mn - Up by 333%

·       9 months EPS stands at Rs.9.57 against Rs.1.90 in 9 months of previous year.

·       The growth in profit was a result of prelaunch supplies of 3 products under CRAMS.

·       Suven’s major thrust on innovative R&D in Drug Discovery continues with a spending of Rs 356 Mn (9.27% on revenue) for the Nine months period ended Dec ’ 2013 for the accounting year 2013-14.

·       SUVN-502 undergoing phase 1b clinical trial in USA.

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LUPIN LTD - QUARTERLY RESULTS - FOR Q3 FY 14 (DEC,2013) -SALES UP 21%; NPT UP 41% YoY - FUTURE EQUALLY PROMISING - NANOMI ACQUISITION STRATEGIC

LUPIN LIMITED

RESULTS FOR Q3 FY 2013-14 (DEC,2013)

Lupin Limited has posted excellent Results for the third quarter ending December,2013.

The Results are in the table below. Net Sales has grown 21% YoY, whereas, Net Profit has grown 41% YoY.

On a Rs.2 FV, the Diluted EPS is Rs.10.58. The annualized EPS comes to Rs.42.32. At the current Market price of around Rs.922, the PE Ratio comes to 21.8. As we can see from the statements of the company, the future of Lupin is brighter in future.

RESULTS TABLE

LUPIN LTD	Q3FY14	%DifQoQ	Q2FY14	%Dif YoY	Q3FY13
Net Sales	2983	13.38	2631	20.97	2466
Other Optg Income	39	8.33	36	11.43	35
Total Income	3022	13.27	2668	20.83	2501
total Exp	2312	11.74	2069	17.66	1965
Profit from Oprtns	710	18.53	599	32.46	536
OtherIncome	32	-60.49	81	18.52	27
Finance Costs	4	-20	5	-50	8
PBT	738	9.33	675	32.97	555
Tax	254	-1.93	259	19.81	212
Net Profit	484	16.07	417	41.11	343
Mino.Intt	8	-27.27	11	0	8
Net profit	476	17.24	406	41.67	336
Equity	89.65	0.06	89.6	0.19	89.48
FV	2	0	2	0	2
BasicEPS	10.63	17.2	9.07	41.92	7.49
Dil.EPS	10.58	17.17	9.03	41.82	7.46
R&D Exp	271	24.88	217	13.87	238

OTHER NEWS ON LUPIN:

 Lupin Limited has announced the acquisition of Netherlands-based Nanomi BV. With this, the company has made its foray into the technology-intensive injectables space. 

Nanomi, the Dutch life sciences company, provides advanced drug delivery products, enabled by its monosphere technology. The company, founded in 2004, has expertise in drug delivery, molecular imaging and diagnostics.

Nanomi has patented technology platforms to develop complex injectable products. It has a rich talent pool of scientists who would be backed by Lupin’s global R&D and manufacturing teams, said a Lupin statement.

"With the use of Nanomi's proprietary technology platform, Lupin would be able to make significant in-roads into the niche area of complex injectables," Lupin CEO, Vinita Gupta said.

FEATURES OF Q3 FY 14 RESULTS :

US is the biggest part of Lupin’s business. It constitutes 45 % of its revenues. India is about 24-25 %. Japan is about 11-12 %.

US grew by 31 % in rupee terms over the quarter. India grew by 14 %. API business which is about 10 % grew by 24-25 %. So, it is an all round growth but it is obviously the US that led the growth. Two parts in the US, one part was launch of some pretty interesting products. Lupin had five product launches, four of them which are either semi-exclusively or completely exclusive opportunities. Trizivir and Zymaxid were launched after successful patent challenge wins. There is no authorized generic even in the market. So, these are very interesting opportunities. The inline products, the products that Lupin has been selling for a while in the US also grew rather nicely.

Considering these news from Lupin, it can be seen that future quarters will be equally growth oriented  for Lupin.

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