Daiichi Sankyo posts Q1 loss of 6.43 bn yen

Japanese drug maker Daiichi Sankyo today reported a loss of 6.43 billion yen in the quarter ended on June 30, 2009 amid operating losses in its business in India through Ranbaxy Laboratories.     

The company posted a net loss of 6.43 billion yen in the first quarter ended June 30, 2009, as against a net income of 25.08 billion yen in the corresponding period year-ago, Daiichi Sankyo said in a statement.     

The Japanese drug major which has around 64 per cent stake in the Gurgaon-based Ranbaxy Laboratories had reported a loss of 3.18 billion yen in the quarter under consideration from Indian operations, while the total income stood at 16.28 billion yen.     

"The net loss was 6.4 billion yen reflected cases of non-application for R&D tax credit, income tax amendments related to prior years and others," Daiichi said.     

However, with Ranbaxy's contribution Daiichi's sales have increased to 227.12 billion yen in the latest quarter from 203.72 billion yen in the June quarter of last fiscal.     

The contribution of net sales of Ranbaxy for the period under review was 29.6 billion yen, it added.