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CARE reaffirms rating of Ranbaxy Laboratories’ bank facilities

22 Jul 2011 Evaluate

Credit rating agency, CARE has reaffirmed A1+ rating to Rs 900 crore short term bank facilities of Ranbaxy Laboratories.

The rating continues to factor in dominant position of the company in the Indian pharmaceutical industry, its established presence in the global generics market which is further expected to strengthen given its strong pipeline of Abbreviated New Drug Applications (ANDA) including First-to-file (FTF) applications and operational synergies with its parent company, Daiichi Sankyo Company (DS).

Ranbaxy Laboratories posted a net loss from ordinary activities after tax of Rs 52.91 crore for the quarter ended March 31, 2011 as compared to net profit from ordinary activities after tax of Rs 871.80 crore for the corresponding quarter last year. Its total income decreased by 43.25% to Rs 1176.42 crore for the quarter under review from Rs 2073.06 crore in the corresponding previous quarter.

Peers
Company Name CMP
Sun Pharma Inds. 1837.15
Dr. Reddys Lab 1271.55
Cipla 1353.85
Zydus Lifesciences 1070.90
Lupin 2351.90
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