Ranbaxy posts Rs.1,045 crore net loss in 2008

Mumbai, March 30 (IANS) Leading drug maker Ranbaxy Laboratories Monday reported a net loss of Rs.1,044.8 crore ($204 million) for 2008 as against a net profit of Rs.617.7 crore in the previous year.

However, the company's total income went up 9.85 percent to Rs.4,681.7 crore in 2008 from Rs.4,261.9 crore in 2007.

The group posted a consolidated net loss of Rs.951.2 crore during the period, compared to a net profit of Rs.774.5 crore in the previous calendar year.

The total consolidated income increased 11.2 percent to Rs.7,691 crore from Rs.6,917.2 crore, the company added.

Meanwhile, the drug major, which has been in trouble with the US Food and Drug Administration over alleged falsification of test results in approved and pending drug applications, Monday said the US drug regulator had given it the nod to sell topirimate tablets - a medication used for the treatment of seizures.

The drug is a generic version of epilepsy drug Topamax, owned by a unit of Johnson and Johnson.