Jubilant Life Sciences expects 3-4 drug approval in US

Jubilant Life Sciences (JLSL) is expecting to receive approval for 3-4 drugs in the American market this fiscal. The company has planned to file applications for about 30 new drugs in the US and Europe. In the current fiscal, the company expects around five product approvals in Europe, and it also plans to file in total 17 drug applications in the US, 11 in Canada and 4 in Europe.

Besides, the company also plans to launch 42 products across the world in the current fiscal. JLSL is also looking at increasing revenues from its drug discovery and development business vertical. It is servicing more than 21 molecules in this business year compared to last year where it was 17 in number.

The company’s net profit declined by 20.50% to Rs 53.89 crore for the first quarter ended June 30, 2011, against Rs 67.79 crore in the same period previous fiscal. Total income rose to Rs 618.75 crore for the quarter ended June 30, 2011, up by 18.84% compared with Rs 520.64 crore in the same period previous financial year.

The company’s consolidated net profit rose 52.92% to Rs 77.12 crore for the first quarter ended June 30, 2011, against Rs 50.43 crore in the same period previous fiscal. Total income rose to Rs 948.48 crore for the quarter ended June 30, 2011 up by 15.86% compared with Rs 818.61 crore in the same period previous financial year.