India’s top-ranked drug firm, Sun Pharmaceutical Industries Ltd., reported a decline in earnings for the fourth quarter ended March 2017 dented, in part, by the challenging generic pricing environment in the US and management commentary indicates a tough fiscal 2018 ahead.
Fourth quarter sales declined by 8% to INR68.25bn ($1.05bn) compared with the same period last year, with US finished dosage sales at $381m (-34%). Net profits slid 14% to INR12.23bn.