Mankind Pharma's quarterly profit jumps 39% on strong chronic drug demand

Oct 26 — Indian drugmaker Mankind Pharma reported an over ​39% jump in second-quarter profit on Monday, helped by strong demand for chronic therapies ‌such as diabetes and cardiac treatments,

Here are the details:

• ⁠Consolidated net profit rose ​to 7.11 billion ⁠rupees ($74.7 million) for the quarter ended September ‌30, from 5.12 ‌billion rupees a year earlier.

• Mankind Pharma ⁠and peers including Torrent ⁠Pharma continue to benefit from strong demand for chronic therapies, particularly diabetes and cardiovascular treatments, helping drive steady growth in the domestic formulations business.

• Its domestic revenue, excluding ‌the consumer healthcare business, ​climbed 16% to 34.28 billion rupees, led by a 19% growth in its cardiac segment and a 16% climb in its anti-diabetes segment.

• This boosted overall revenue by 17.3% to 43.38 billion rupees.

• Mankind Pharma makes ​prescription medicines across chronic and acute therapies, ‌and consumer healthcare ‌products ⁠including Manforce condoms, Prega News pregnancy test kits and Gas-O-Fast antacid tablets.

• Last week, peer Torrent Pharma reported a near 10% drop ‌in quarterly profit as ​R&D costs outweighed strong ‌domestic demand.

($1 = 95.2100 ⁠Indian ​rupees)

(Reporting by Kashish Tandon in Bengaluru; Editing by Nivedita ​Bhattacharjee)

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