Sun Pharmaceutical Industries reported strong Q3 FY26 results, with sales up 15.1% to ₹1,54,691 million. Global Innovative Medicines sales increased by 14.3% to US$423 million. The company launched 12 new products in India and saw encouraging early feedback for Unloxcyt in the US and Ilumya in India. The company anticipates an increase in R&D spending in the coming year. Sun Pharma maintains a strong balance sheet with a net cash of $3.2 billion.
Financial Performance
Sun Pharma showcased robust financial performance in Q3 FY26:
- Sales reached ₹1,54,691 million, a 15.1% increase compared to Q3 FY25.
- Excluding milestone income, sales growth was 14.7%.
- EBITDA increased by 23.4% to ₹49,485 million.
- Reported net profit after tax was ₹33,688 million, a 16% increase year-over-year. Adjusted net profit increased by 9.9% to ₹35,367 million.
- EPS for the quarter was ₹14 per share.
Innovative Medicines Business
Global Innovative Medicines sales saw significant growth:
- Sales increased by 14.3% to US$423 million.
- Excluding milestone income, growth was 13.2%.
- Unloxcyt was launched in the US, and Ilumya was launched in India.
India Business
The India business also demonstrated strong performance:
- Sales were ₹49,986 million, representing a 16.2% increase over Q3 last year.
- India formulations sales accounted for 32.3% of total consolidated sales.
- Sun Pharma holds the No. 1 rank with an 8.4% market share.
- The company launched 12 new products in India.
US Business
The US business saw marginal growth:
- Overall US business was up by 0.6% to reach $477 million for the quarter.
- Growth in innovative medicines was offset by lower sales in the generic business.
- The US accounted for 27.5% of consolidated sales for the quarter.
R&D and Pipeline
- R&D investments stood at ₹8,928 million, or 5.8% of sales.
- The company is planning to increase R&D spend next year.
- A sBLA for Ilumya was filed with the US FDA for the treatment of Psoriatic Arthritis.
- Global Phase-II trials of GL0034 were initiated for type-2 diabetes.
Emerging Markets
- Formulations revenues were US$337 million, up by 21.6% over Q3 last year.
- The underlying growth in constant currency terms was 13%.
Source: BSE
