Business & Finance

Caraco Pharmaceutical reports net sales rise 43%

Published in Drug Law Weekly, November 14th, 2006

Caraco Pharmaceutical Laboratories, Ltd., (CPD) posted record net sales for the second quarter and 6 months of fiscal 2007, ended September 30, 2006, of $28.3 million and $53.0 million, respectively, as compared to $19.8 million and $37.4 million for the corresponding periods of fiscal 2006.

This represents an increase of 43% and 42% over second quarter and 6 months of fiscal 2006, respectively. Net income grew to $2.3 million and $7.3 million in the second quarter and 6 months of fiscal 2007, respectively, as compared to a net loss of $4.8 million and $3.2 million during the corresponding periods of fiscal 2006.

Daniel H. Movens, Caraco's CEO, said,...

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Source: Drug Law Weekly (2006-11-14)

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