Investers: Financial Press Releases 2014-15

Investers
Financial Press Releases

2014-15
Q1 (Apr-Jun)
Ranbaxy Q1 FY 2015 (Apr’14-Jun’14) Sales

Rs.23.7 Bn
Jul 29, 2014:
Growth registered in Base business profitability
Gurgaon, India: The Board of Directors of Ranbaxy Laboratories Limited (RLL, NSE:
RANBAXY, BSE: 500359), at its meeting held today, took on record the unaudited results for
the Quarter ended June 30, 2014 (“Apr-Jun 2014”) under Indian GAAP.
Key Financial Highlights
Financial Performance for the quarter ended June 30, 2014 (Apr-Jun 2014)
 Consolidated Sales were Rs.23.7 Bn [Apr-June 2013: Sales Rs.25.8 Bn].

 Earnings before Interest, Tax, Depreciation & Amortization (EBITDA) was Rs.2.4 Bn.
Commenting on the business results for the Quarter, Arun Sawhney, CEO & Managing Director,
Ranbaxy, said, “We continue to work towards growing our base business with focus on emerging
markets, while at the same time, restoring the business on growth trajectory in our traditional
markets such as USA and Europe.”
Key Highlights/ Developments
Business and Financial
 On June 26, 2014, the Company received approval from the U.S. Food and Drug Administration
(US FDA) to manufacture and market Valsartan 40 mg, 80 mg, 160 mg, and 320 mg tablets on an
exclusive basis. Valsartan is indicated for the treatment of high blood pressure and heart failure.
Total annual market sales for Diovan® were $2.19 billion (IMS – MAT: April 2014).
 The India business recorded 12% growth as against the Indian Pharma Market (IPM) growth of
10%. The Company expects to continue the momentum in the months ahead.
 Base business EBITDA for the quarter ending June 2014 continued to grow over the
corresponding period.
 Ranbaxy maintained its strong market share in Absorica™, isotretenoin NDA in the USA. As of
June 27, 2014 market share was ~20%.
Regulatory, Research & Development and Manufacturing
 A joint inspection by multiple European Agencies including UK, Ireland, Germany, Switzerland
and TGA Australia was successfully completed at the Toansa API facility during March 2014 with
no critical observations. The inspection team concluded that there was no evidence that the
products manufactured at the Toansa API facility have any product quality or patient safety
issues. As a consequence on June 5, 2014, the EU authorities reinstated the EU GMP certificate
for the Toansa facility.
 The Company has received communications from the National Stock Exchange (NSE) and
Bombay Stock Exchange (BSE) conveying their No Objection based on the observations of the
Securities and Exchange Board of India (SEBI) in regard to the Scheme of Arrangement for
merger of the Company with Sun Pharmaceutical Industries Ltd.
 The Company has filed a petition with the Honourable High Court of Punjab & Haryana to
convene meetings of shareholders etc.
Global Sales
 Consolidated sales for the Quarter were Rs.23.7 Bn as compared to Rs.25.8 Bn during the
corresponding quarter.
o Branded and OTC category contributed Rs.13.7 Bn accounting for 58% of total sales
during the Quarter. Generics and others category recorded Rs.10 Bn of sales for the
Company during the Quarter.
 North America: Sales for the Quarter were Rs.7.6 Bn.
o In the USA, sales for the Quarter were Rs.7.0 Bn primarily driven by AbsoricaTM with a
market share of 20% (IMS June’14).
 India: In the domestic market, sales for the Quarter were Rs.6.1 Bn, a growth of 12% over the
o OTC business (Consumer Healthcare) contributed Rs.0.9 Bn
 East Europe & CIS: The region recorded sales of Rs.3.4 Bn. Despite the challenges in the
Ukrainian belt, Ranbaxy continues to work effectively.
 West Europe: Sales for the Quarter were Rs.2.4 Bn, a growth of 10% over the corresponding
quarter. Growth was led by all round performance in UK, Germany and Spain.
 Africa and Middle East: Sales for the Quarter were Rs.2.0 Bn.
 Asia Pacific and LATAM (including Sri Lanka): Sales for the Quarter were Rs.1.6 Bn.
o In LATAM sales for the Quarter were Rs.0.4 Bn
 API business and others contributed sales of Rs.0.5 Bn. Business was impacted by the voluntary
suspension of shipments from its Toansa and Dewas facilities.
About Ranbaxy Laboratories Limited
Ranbaxy Laboratories Limited is an integrated, research based, international pharmaceutical

company producing a wide range of quality, affordable generic medicines, trusted by healthcare
professionals and patients across geographies. Ranbaxy’s continued focus on R&D has resulted
in several approvals, in developed and emerging markets many of which incorporate proprietary
Novel Drug Delivery Systems (NDDS) and technologies, developed at its own labs. The
company has further strengthened its focus on generics research and is increasingly working on
more complex and specialty areas. Ranbaxy serves its customers in over 150 countries and has
an expanding international portfolio of affiliates, joint ventures and alliances, ground operations
in 43 countries and manufacturing operations in 8 countries. Ranbaxy is a member of the Daiichi
Sankyo Group. Through strategic in-licensing opportunities and its hybrid business model with
Daiichi Sankyo, a leading global pharma innovator headquartered in Tokyo, Japan, Ranbaxy is
introducing many innovator products in markets around the world, where it has a strong
presence. This is in line with the company’s commitment to increase penetration and improve
access to medicines, across the globe. For more information, please visit www.ranbaxy.com.
2013
Q1 (Jan-Mar)
Ranbaxy Q1 CY 2013 Sales Rs.24,398 Mn.

Base business grows by over 10%
May 08, 2013:
Focus continues in branded markets and differentiated products
The Board of Directors of Ranbaxy Laboratories Limited (RLL, NSE: RANBAXY, BSE:
500359), at their meeting held today, took on record the unaudited results for the Quarter ended
Mar 31, 2013 (“Q1’13”) under Indian GAAP.
Financial Performance for the quarter ended Mar 31, 2013 (Q1’13)
 Consolidated sales were Rs.24,398 Mn [Q1’12: Sales Rs.37,090]. Absolute sales were lower than
the corresponding quarter as Q1’12 sales which included contribution from exclusivities.
o Base business sales registered double digit growth.
 Earnings before Interest, Tax, Depreciation & Amortization (EBITDA) was Rs.1,549 Mn. Profit
After Tax, minority interest and share in loss of an associate (PAT) was Rs.1,258 Mn. Profitability
for Q1’13 seems lower when compared to the corresponding quarter primarily due to absence
of contribution from exclusivities present in the corresponding quarter last year.
Commenting on the business results for the quarter, Mr. Arun Sawhney, CEO & Managing
Director, Ranbaxy, said, “India and key emerging markets of East Europe + CIS and Africa +
Middle East returned strong growth. The focus on differentiated products gained momentum
during the Quarter as we improved our market share in Absorica™ and received the rights to
market Desevenlafaxine in USA. We also continued to work towards optimizing overhead and
other expenses.”
Business
 Base business sales in Q1’13 improved by double digits over the corresponding period.
o Sales grew in major emerging markets of India, Africa and East Europe & CIS over Q1’12
 Ranbaxy capitalized on product opportunities. Significant among them were:
o Launch of Desvenlafaxine; an NDA for Pristiq®.
o Market share gain in Absorica™, isotretenoin NDA has been promising. As of Apr 29,
2013, Ranbaxy market share was 9.4%.
o The exclusivity period for Pioglitazone hydrochloride authorised generic (AG) came to an
end in mid February 2013.
o Gained over 50% of the market share in Cevimeline hydrochloride 30 mg. capsules in the
USA, the authorised generic product of Daiichi Sankyo, marketed under the brand name
Evoxac®.
 India sales grew at 11%.
 Under the Hybrid Business Model, Ranbaxy and Daiichi Sankyo Co. Limited (DS) worked on the
collaboration of their businesses in Brazil to expand the business of both the companies.
 Implementation of the Consent Decree, signed in Jan 2012, progressed per plan.
 During the Quarter, 3 ANDAs were filed for the USA market (including 2 potential FTFs).
 The Company resumed supplies of Atorvastatin, in the USA market.
Global Sales
 Consolidated sales for the Quarter were Rs.24,398 Mn as compared to Rs.37,090 Mn in the
corresponding quarter. On like-to-like basis sales grew in double digits over the corresponding
quarter.
Branded and OTC category contributed Rs.12,238 Mn accounting for 50% of total sales during
the Quarter. Generic including API category recorded Rs.12,160 Mn of sales for the Company
during the Quarter.
 North America: Sales for the Quarter were Rs.6,892 Mn. The lower sales in comparison to the
corresponding quarter were due to large contribution to sales from exclusivity opportunities in
the earlier quarter.
o In USA sales for the Quarter were Rs.5,956 Mn.
 India: In the domestic market, sales for the Quarter were Rs.5,427 Mn, up 11% from the
corresponding quarter. The IPM slowed down to ~9% growth levels during the Quarter.
 East Europe & CIS: The region recorded sales of Rs.3,604 Mn, a growth of 15% over the
 West Europe: Sales for the Quarter were Rs.2,018 Mn, a decline of 18% over the corresponding
quarter.
 Africa and Middle East: Sales for the Quarter were Rs.2,983 Mn, a growth of 23%.
 Asia Pacific and LATAM: Sales for the Quarter were Rs.1,659 Mn.
 API business and others had revenues of Rs.1,815 Mn during the quarter.
Ranbaxy Laboratories Limited, India’s largest pharmaceutical company, is an integrated,

research based, international pharmaceutical company producing a wide range of quality,
affordable generic medicines, trusted by healthcare professionals and patients across
geographies. Ranbaxy’s continued focus on R&D has resulted in several approvals, in developed
and emerging markets many of which incorporate proprietary Novel Drug Delivery Systems
(NDDS) and technologies, developed at its own labs. The company has further strengthened its
focus on generics research and is increasingly working on more complex and specialty areas.
Ranbaxy serves its customers in over 150 countries and has an expanding international portfolio
of affiliates, joint ventures and alliances, ground operations in 43 countries and manufacturing
operations in 8 countries. Ranbaxy is a member of the Daiichi Sankyo Group. Through strategic
in-licensing opportunities and its hybrid business model with Daiichi Sankyo, a leading global
pharma innovator headquartered in Tokyo, Japan, Ranbaxy is introducing many innovator
products in markets around the world, where it has a strong presence. This is in line with the
company’s commitment to increase penetration and improve access to medicines, across the
globe. For more information, please visit www.ranbaxy.com.
Q2 (Apr-Jun)
Ranbaxy Q2 CY 2013 Sales Rs.26,332 Mn.
H1 CY2013 Sales Rs.50,730 Mn Base
business sales and margins grow
Aug 07, 2013:
Gurgaon, India / Moscow, Russia: The Board of Directors of Ranbaxy Laboratories Limited
(RLL, NSE: RANBAXY, BSE: 500359), at their meeting held today, took on record the
unaudited results for the Quarter and Half Year ended June 30, 2013 (“Q2’13” and “H1’13”
respectively) under Indian GAAP.
Financial Performance for the quarter ended June 30, 2013 (Q2’13)
 Consolidated sales were Rs.26,332 Mn [Q2’12: Sales Rs.32,046 Mn]. Absolute sales were lower
than the corresponding quarter sales as Q2’12 sales included contribution from exclusivities.
 Base business sales continued to register double digit growth.
 Earnings before Interest, Tax, Depreciation & Amortization (EBITDA) was Rs.1,996 Mn. Base
business margins continued to improve in the Quarter.
Financial Performance for YTD ended June 30, 2013 (H1’13)
 Consolidated sales were Rs.50,730 Mn [H1’12: Sales Rs.69,136 Mn].

 Earnings before Interest, Tax, Depreciation & Amortization (EBITDA) was Rs.3,545 Mn.
The following exceptional items impacted profitability at the Profit After Tax (PAT) level:
The depreciation of the INR against the US$, though favourable to Ranbaxy’s export business
had an adverse impact on the current Quarter profitability mainly on account of application of
the accounting standards that require Marking to Market the entire derivatives and foreign
currency denominated loans outstanding. There was a net charge of Rs.5,403 Mn during Q2’13
and Rs.4,954 Mn during H1’13 on the P&L on account of the forex items.
The macroeconomic environment continued to be challenging in certain countries in Western

Europe. Specifically in France, the Generic Pharma industry has been impacted by continuing
pricing and trade challenges. The Company has accordingly taken an impairment of goodwill of
Rs.1,192 Mn in France in line with the accounting standards.
Net (Loss) after tax, minority interest and share in loss of associate was Rs.5,242 Mn, however,
Profit After Tax excluding the impact of forex and exceptional item was Rs.1,352 Mn.
Commenting on the business results for the quarter, Mr. Arun Sawhney, CEO &
Managing Director, Ranbaxy, said, “The Company continued its focus on branded markets
and business which will help navigate the growth of Ranbaxy in the coming years. While on the
one hand, we are making commitments to growth, we are also consciously working on areas of
efficiency improvement across the organization.
At all times, we will work under the paradigm of ‘Quality and Patients First.’ Mr. Sawhney
further added, “In the interest of all stakeholders we successfully concluded the previously
disclosed investigation by the U.S. Department of Justice (“DOJ”). With the payment of $500
Mn, provisioned earlier, we have settled both the civil and criminal settlements with the DOJ.
This should allow us to focus our resources and energies to drive future growth.”
Business
 Base business sales in Q2’13 improved by double digits over the corresponding period.
o Sales grew in the Emerging Markets of LATAM and branded business of Africa, APAC and
Russia
 Market share gain in Absorica™, isotretenoin NDA has been promising. As of June 28, 2013
Ranbaxy’s market share was at 13.7%.
 Ranbaxy capitalized on its strength, retaining strong market share for its products post-
exclusivity:
o The exclusivity period for Pioglitazone hydrochloride authorised generic (AG) came to an
end in mid February 2013. Ranbaxy continues to hold ~24% market share
o Ranbaxy has 43% of the market share in Cevimeline hydrochloride 30 mg. capsules
(Evoxac®) in the USA, the authorised generic product of Daiichi Sankyo.
 In closure to the earlier settlement with the Department of Justice, the Company paid the
settlement amount during the Quarter. Provision for this charge was created in the books in
2011.
 Implementation of the Consent Decree, signed in January 2012, progressed per plan.
 During the Quarter, 1 ANDA was filed for the USA market.
 Greenfield manufacturing initiated in growth markets of Africa.
 Focus on efficiency improvement through benchmarking and review of raw material costs,
solvent recoveries and capacities.
Global Sales
corresponding quarter. On a like-to-like basis, sales grew in double digits over the corresponding
quarter.
o Branded and OTC category contributed Rs.13,445 Mn accounting for 51% of total sales
during the Quarter. Generics including API category recorded Rs.12,887 Mn of sales for
the Company during the Quarter.
 North America: Sales for the Quarter were Rs.8,516 Mn. Sales were lower in comparison to the
corresponding quarter due to large contribution to sales from exclusivity opportunities in the
earlier quarter.
o In the USA, sales for the Quarter were Rs.7,700 Mn. Strong Base business sales
encouraged by prescription growth in Absorica™.
 India (including CHC): In the domestic market, sales for the Quarter were Rs.5,426 Mn, in-line
with the corresponding quarter. The new government pricing policy and trade related
challenges impacted performance.
o OTC business (Consumer Healthcare) contributed Rs.1,034 Mn, a growth of 8% over the
 East Europe & CIS: The region recorded sales of Rs.3,260 Mn.
 West Europe: Sales for the Quarter were Rs.1,958 Mn, a decline of 31% over the corresponding
quarter.
 Africa and Middle East: Sales for the Quarter were Rs.2,828 Mn, a growth of 9%.
 Asia Pacific and LATAM (including Sri Lanka): Sales for the Quarter were Rs.2,082 Mn, a growth
of 13%.
 API business and others had revenues of Rs.2,263 Mn. Focus on select markets and products
helped business grow by 31% over the corresponding quarter.

Q3 (Jul-Sep)
Ranbaxy Q3 CY 2013 Sales Rs.27.5 Bn. YTD
Sep 2013 Sales Rs.77.5 Bn
Oct 29, 2013:
RANBAXY, BSE: 500359), at its meeting held today, took on record the unaudited results for
the Quarter and YTD ended September 30, 2013 (“Q3’13” and “YTD Sep’13” respectively)
under Indian GAAP.
Financial Performance for the quarter ended September 30, 2013 (Q3’13)
 Consolidated sales were Rs.27.5 Bn [Q3’12: Sales Rs.26.7 Bn] impacted by the new pricing policy
and trade concerns in India and the absence of any post exclusivity sales during the quarter
 Earnings before Interest, Tax, Depreciation & Amortization (EBITDA) was Rs.2.0 Bn
 Financial Performance for YTD ended September 30, 2013 (YTD Sep’13)
 Consolidated sales were Rs.77.5 Bn [YTD Sep’12: Sales Rs.95.8 Bn]
 Earnings before Interest, Tax, Depreciation & Amortization (EBITDA) was Rs.5.5 Bn. Base
business margins improved over the corresponding period
The following exceptional items impacted profit:
had an adverse impact on the Company mainly on account of application of the accounting
standards that require Marking to Market the entire derivatives and foreign currency
denominated loans outstanding. There was a charge of Rs.3.6 Bn during Q3’13 and Rs.7.6 Bn
during YTD Sep’13 on account of these forex items mentioned above. The Company made a
provision for Mohali stock write-off and other costs amounting to Rs.0.7 Bn.
Net Loss after tax, minority interest and share in loss of associate was Rs.4.5 Bn.
Managing Director, Ranbaxy, said, “The Company continues to grow in its focus branded
markets in Asia, East Europe, CIS and Africa. In India, however, the announcement of the
pricing policy caused some uncertainty in the market, during which our sales in the home market
faced some disruptions.
We are confident that we will satisfactorily address the increasing standards of quality and
manufacturing processes to uphold the high level of trust that our Doctors, Patients, Regulators
and other stakeholders expect from us.”
Business
 Base business sales in Q3’13 continued to grow over the corresponding period
o Sales grew in the Emerging Markets of East Europe + CIS and APAC
 Market share gain in Absorica™, isotretenoin NDA has been promising in the USA. As of
September 27, 2013, Ranbaxy’s market share was at 17.5%
 Received Central Drugs Standard Control Organisation (CDSCO) approval to manufacture and
market Synriam™ in India for treatment of malaria caused by Plasmodium vivax parasite. This is
an extended usage of Synriam™, India’s first new drug which was launched in April, 2012, for the
treatment of uncomplicated Plasmodium falciparum malaria, in adults
 Synriam™ bagged the Innovation Excellence Platinum Award at the ASSOCHAM Innovation
Awards 2013 in the Science & Technology category
 Manufacturing site allocated to Ranbaxy Malaysia Sdn Bhd for setting up a Greenfield facility in
Malaysia
 Mohali SEZ unit received an import alert and was subsequently included under certain
provisions of the Consent Decree by the US FDA. The Company has made further improvements
at its Mohali facility since the last inspection in 2012 and remains committed to satisfying the US
FDA with regards to their expectations
 The Ohm plant received Establishment Inspection Report (EIR) by the US FDA
 Implementation of the Consent Decree signed in January 2012 with respect to Dewas and
Paonta Sahib plants progressed as per plan
 During the Quarter, 3 ANDAs were filed for the USA market
Change in Accounting Year: The Board of Directors of the Company have decided to change
the financial year of the Company as “April to March” effective April 1, 2014. In view of this,
the current financial year will be for a period of 15 months i.e. January, 2013 to March, 2014.
Global Sales
 Consolidated sales for the Quarter were Rs.27.5 Bn as compared to Rs.26.7 Bn in the
corresponding quarter. The details are as follows:
during the Quarter. Generics including API category recorded Rs.12.8 Bn of sales for the
Company during the Quarter
o North America: Sales for the Quarter were Rs.8.8 Bn. Sales were lower in comparison to
the corresponding quarter due to large contribution to sales from exclusivity
opportunities in the earlier quarter
o In the USA sales for the Quarter were Rs.7.9 Bn
o India: In the domestic market, sales for the Quarter were Rs.5.7 Bn, in-line with the
corresponding quarter. Sales for the quarter was impacted by pricing policy and trade
related supply disruptions
o OTC business (Consumer Healthcare) contributed Rs.1.1 Bn, growth of 7% over the
corresponding quarter
o East Europe & CIS: The region recorded sales of Rs.4.8 Bn, this represents growth of
24% over the corresponding quarter
o West Europe: Sales for the Quarter were Rs.2.0 Bn. Sales declined 31% in the
commoditized West Europe market over the corresponding quarter
o Africa and Middle East: Sales for the Quarter were Rs.2.5 Bn, a growth of 4%
o Asia Pacific and LATAM (including Sri Lanka): Sales for the Quarter were Rs.2.3 Bn, a
growth of 14%
o API business and others had revenues of Rs.1.5 Bn
Outlook for 2013:
The Company expects to achieve sales of Rs.130 Bn – Rs.135 Bn for 15 months period ending
31 March 2014. This does not consider any sales accruing from FTFs which shall be accounted
for as they materialize.

Q4 (Oct-Dec)
Ranbaxy Q4 FY14 Sales Rs.28.6 Bn. YTD
Dec 2013 Sales Rs.106.0 Bn
Feb 05, 2014:
Base business grows by 10%+ QoQ and on YTD basis

Robust growth in EBITDA during the quarter and on YTD basis
Gurgaon, India/ Tokyo, Japan: The Board of Directors of Ranbaxy Laboratories Limited (RLL,
NSE: RANBAXY, BSE: 500359), at its meeting held today, took on record the unaudited results
for the Quarter and YTD ended December 31, 2013 (“Q4 FY14” and “YTD Dec’13”
Financial Performance for the quarter ended December 31, 2013 (Q4 FY14)
 Consolidated Sales were Rs.28.6 Bn [Q4’12: Sales Rs.26.7 Bn].

 Earnings before Interest, Tax, Depreciation & Amortization (EBITDA) was Rs.2.7 Bn. Margins
strengthened in the quarter. Adjusted for Forex movements and non-routine charges, margin
was >10%
The Company recorded a net loss before taxes of Rs.0.6 Bn after providing for stock
write-off and other costs of Rs.2.6 Bn pursuant to the inclusion of the Toansa plant under
certain provisions of the Consent Decree (CD) by USFDA. (Please refer to the section
“Regulatory, Research & Development and Manufacturing” for further details)
Financial Performance for YTD ended December 31, 2013 (YTD Dec’13)
 Consolidated sales were Rs.106.0 Bn [YTD Dec’12: Sales Rs.122.5 Bn]. Base business sales
growth was led by India, East Europe & CIS and USA
 Earnings before Interest, Tax, Depreciation & Amortization (EBITDA) was Rs.8.2 Bn. Base
business margins improved over the corresponding period. Adjusted for Forex movements and
non-routine charges, margin was > 10%
Managing Director, Ranbaxy, said, “Ranbaxy has been strengthening its base business
in key markets including India, Eastern Europe & CIS and the USA which has helped us
recover our margins. We are facing some major regulatory challenges and are
disappointed with the developments. I would like to assure all our stakeholders that we
will do whatever is necessary to address all concerns of the USFDA and are committed to
resolve them as early as possible.”
Business
 Base business sales in Q4 FY14 continued to grow over the corresponding period
o Sales grew in the major markets of USA, India and East Europe
 Ranbaxy maintains strong market share in Absorica™, isotretenoin NDA in the USA. As of
December 27, 2013 Ranbaxy’s market share was at 17.2%. The Company had earlier in Sep 2013
received a Paragraph IV Certification Notice of filing from Watson Laboratories of an ANDA to
the USFDA for a generic version of Absorica™
 The Toansa facility was issued a Form 483 containing certain observations in Jan 2014 and was
subsequently included under certain provisions of the Consent Decree (CD) by USFDA.
Subsequent to issuance of Form 483, the Company had voluntarily and proactively suspended
shipments of API to the USA market from the facility out of abundant caution. Impact of the
above-mentioned development was Rs.2.6 Bn on account of stock write-offs and other related
costs that have been included below the EBITDA
 Remediation plan for Dewas and Paonta Sahib progresses in line with the Consent Decree
 Mohali plant was placed under the cGMP provisions of the CD in Sep 2013. All commitments to
date have been met and remediation is progressing per plan
 Received Central Drugs Standard Control Organisation (CDSCO) approval to manufacture and
market Synriam™ in India for the treatment of malaria caused by Plasmodium vivax parasite
 Received final approval from the USFDA to manufacture and market Felodipine Extended-
Release tablets USP, 2.5 mg, 5 mg and 10 mg. Felodipine is indicated for the treatment of
hypertension
 Received approval to market Ran™- Donepezil in Canada. Donepezil is indicated in the treatment
of dementia in Alzheimer’s patients
 The new entity established in Thailand started its operations during the quarter. Earlier in Jan
2013, Ranbaxy and Daiichi Sankyo had announced their intention to integrate their business
operations in Thailand, to leverage and maximize the synergies under the Hybrid Business
Model
 The Company completed 20 years of operations in Ukraine in Nov 2013
 Ranbaxy and EPIRUS announced signing of licensing agreement for BOW015, a biosimilar version
of Infliximab used in the treatment of rheumatoid arthritis. The product will be introduced in
India and other Emerging Markets. Currently, there is no biosimilar of Infliximab approved in
India
 During the Quarter, 3 ANDAs were filed for the USA market
Global Sales
 Consolidated sales for the Quarter were Rs.28.6 Bn as compared to Rs.26.7 Bn, a growth of 7%
during the quarter. The details are as follows:
 North America: Sales for the Quarter were Rs.10.2 Bn
o In the USA sales for the Quarter were Rs.9.1 Bn
 India: In the domestic market, sales for the Quarter were Rs.5.8 Bn
 East Europe & CIS: The region recorded sales of Rs.4.6 Bn
 West Europe: Sales for the Quarter were Rs.2.3 Bn
 Africa and Middle East: Sales for the Quarter were Rs.2.6 Bn
 Asia Pacific and LATAM (including Sri Lanka): Sales for the Quarter were Rs.1.7 Bn
 API business and others had revenues of Rs.1.4 Bn

Financial
Ranbaxy January – March 2014 Sales at
Rs.24.4 Bn
May 09, 2014:
Achieved sales guidance with Rs.130.4 Bn for the 15 months period ended March 2014
Growth registered in Base business sales and EBITDA
RANBAXY, BSE: 500359), at its meeting held today, took on record the audited results for the
Quarter and the 15 months period ended March 31, 2014 (“Jan- Mar 2014” and “FY 2014”
Financial Performance for the quarter ended March 31, 2014 (Jan- Mar 2014)
 Consolidated Sales were Rs.24.4 Bn [Jan- Mar 2013: Sales Rs.24.1 Bn]. Sales grew in major
markets of USA, India, West Europe and LATAM
The Company recorded a net profit before taxes of Rs.0.3 Bn after providing for inventory write-
off and other costs of Rs.0.6 Bn. The Company also made a provision of Rs.0.7 Bn for
impairment of goodwill in subsidiaries and diminution in the value of an investment in an
associate. The Company recorded net foreign exchange gain of Rs.1.1 Bn
Financial Performance for the 15 months period ended March 31, 2014 (FY 2014)
 Consolidated sales were Rs.130.4 Bn. Base business sales was led by USA, India, LATAM and East
Europe & CIS
Commenting on the business results for the Quarter, Mr. Arun Sawhney, CEO & Managing
Director, Ranbaxy, said, “Despite multiple challenges, Ranbaxy met its sales guidance and
continued to build on its strengths. At the same time we continue to work closely with the
regulatory agencies to address their concerns.”
 Sun Pharmaceutical Industries Limited (“Sun Pharma”) and Ranbaxy Laboratories Limited
(“Ranbaxy”) announced their intent to merge in an all- stock transaction at a ratio of 0.8 shares
of Sun for each Ranbaxy share. The transaction is expected to represent a tax-free exchange to
Ranbaxy shareholders
 The transaction will need various regulatory approvals as well as an approval by majority
shareholders representing 75% in value of the shares present and voting at the shareholder
meetings of each of Sun Pharma and Ranbaxy. Promoters of both Daiichi Sankyo and Sun
Pharma, have irrevocably agreed to vote in favour of the transaction
 The Company achieved its sales guidance of Rs.130 Bn – Rs.135 Bn for the 15 months period
ended March 2014 excluding contribution from First- To- Files (FTFs)
 Base business sales for the 15 months period ending March 2014 continued to grow over the
corresponding period. On an annualized basis, base business sales growth was >10% on actual
forex
 Ranbaxy maintained its strong market share in Absorica™, isotretenoin NDA in the USA. As of
March 28, 2014 Ranbaxy’s market share was at ~22%
 Credit Analysis & Research Limited (CARE), revised the credit rating for long term debt
instruments issued by the Company, from CARE AA+ (Double A Plus) to CARE AA (Double A).
Long term Instruments with CARE AA rating are considered to have high degree of safety
regarding timely payment of financial obligations and carry very low credit risk
 The Company has changed its accounting year from January-December (calendar year) to April-
March (financial year). Thereby, the current accounting year is for a period of 15 months, i.e.
January 2013- March 2014 and financials are not strictly comparable to the previous year, which
was a 12 months period
 The Toansa facility was issued a Form 483 containing certain observations in January 2014 and
was subsequently included under certain provisions of the Consent Decree (CD) by USFDA. The
remediation is progressing as per plan
 The Company received an administrative subpoena from the United States Attorney’s Office for
the District of New Jersey seeking information primarily relating to the company’s Toansa API
facility. Ranbaxy is cooperating with agency on this matter
 Mohali plant was placed under the cGMP provisions of the CD in September 2013. All
commitments to date have been met and remediation is progressing per plan. Appropriate
remedial measures are being undertaken
 The Company voluntarily suspended shipment of all products from the Toansa and Dewas API
facilities to the international markets temporarily. This decision was taken as a precautionary
measure and out of abundant caution to allow the Company to assess and review the processes
and controls
 Ranbaxy and EPIRUS announced signing of licensing agreement for a biosimilar version of
Infliximab used for the treatment of rheumatoid arthritis. The product will be introduced in
India and other Emerging Markets. Currently, there is no biosimilar of Infliximab approved in
India
 Received approval to market Ran™- Donepezil in Canada. Donepezil is indicated for the
treatment of dementia in Alzheimer patients
 During the Quarter, 37 Abbreviated New Drug Application (ANDA) filings were made across the
globe and approvals were received for 22 ANDA filings
Global Sales
 Consolidated sales for the Quarter were Rs.24.4 Bn as compared to Rs.24.1 Bn. For the 15
months period ended March 2014, sales were Rs.130.4 Bn
o During the 15 months period ended March 2014, Branded and OTC category
contributed Rs.64.0 Bn while Generics including API category recorded Rs.66.4 Bn
 North America: Sales for the Quarter were Rs.8.4 Bn, a growth of 13% over the corresponding
quarter. The region recorded sales of Rs.42.0 Bn for the 15 months period ended March 2014,
reflecting a strong base business growth over the corresponding period
o In the USA sales for the Quarter were Rs.7.7 Bn, a growth of 19% over the
corresponding quarter previous year. Sales were Rs.37.5 Bn for the 15 months period
ended March 2014
 India: In the domestic market, sales for the Quarter were Rs.5.5 Bn
o Sales for the 15 months period ended March 2014 were Rs.28.0 Bn. Of this, Consumer
Healthcare sales contribution was Rs.5.1 Bn
 East Europe & CIS: The region recorded sales of Rs.3.8 Bn. Sales for the 15 months period ended
March 2014 were Rs.20.0 Bn
 West Europe: Sales for the Quarter were Rs.2.5 Bn. Sales for the 15 months period ended March
2014 were Rs.10.8 Bn
 Africa and Middle East: Sales for the Quarter were Rs.2.0 Bn. Sales for the 15 months period
ended March 2014 were Rs.13.0 Bn
 Asia Pacific and LATAM (including Sri Lanka): Sales for the Quarter were Rs.1.5 Bn. Sales for the
15 months period ended March 2014 were Rs.9.2 Bn
 API business and others contribute sales of Rs.0.6 Bn. Sales for the 15 months period ended
March 2014 were Rs.7.5 Bn

Growth % is calculated at constant forex, unless mentioned otherwise

2012
Q1 (Jan-Mar)
RANBAXY SALES GREW OVER 55%
WITH IMPROVEMENT IN BASE
BUSINESS PROFITABILITY
May 09, 2012:
March 31, 2012 (the “Q1’12″) under Indian GAAP.
Financial Performance for the quarter ended March 31, 2012 (Q1 ’12)
 Consolidated sales were 37,002 Mn ($736 Mn) [Q1'11: Sales 21,453 Mn ($474 Mn)] (A
growth of 55% over the corresponding quarter).
 Earnings before Interest, Tax, Depreciation & Amortization (EBITDA) was 27% of Sales at
10,152 Mn ($202 Mn) [Q1'11: EBITDA 4,261 Mn ($94 Mn)].
 Profit After Tax (PAT) of 12,468 Mn ($248 Mn) [Q1'11: 3,044 Mn ($67 Mn)]
Commenting on the business results for the Quarter, Mr. Arun Sawhney, CEO & Managing
Director, Ranbaxy, said, “The focus on key products and markets, while maintaining emphasis
on further strengthening quality and compliance standards has had a positive impact on the
performance of Ranbaxy during the Quarter. The Company is working towards creating a
sustainable, profitable, growing business in the long run with differentiated, branded generics
business at its base.
An important development has been the resumption of exports to the USA from our Indian
facility.
Efforts to improve the effectiveness and efficiency of resource deployment continues, which is
expected to result in further improving our base business in the coming quarters.
Key Highlights/Developments

 Ranbaxy continued its robust sales, aided by further improvement in base business sales and
strong sales contribution from exclusivities.
 Improvement in Sales and Profitability on base business continued in the Quarter.
 Recorded growth on most major markets including North America, Western Europe, Asia Pacific
and Active Pharmaceutical Ingredients business (API).
 India region primary sales growth was over 10% in Rupee terms. Consumer Healthcare (CHC),
Ranbaxy’s OTC division, continued its robust sales performance with primary sales growth of
over 20%.
 USA base business continued to be strong. Robust sales of products under exclusivity; viz
Atorvastatin and Amlodipine+Atorvastatin in the quarter.
 Consolidated on product and market focus further, with the launch of Atorvastatin as the first
generic in multiple markets including West Europe and Australia.
 RanTM- Rosuvastatin tablets, first generics to be launched in Canada through an agreement
with the innovator.
 As a further step in the Hybrid Business Model, Daiichi Sankyo Co. Limited (DS) and Ranbaxy
worked together to promote only Atorvastatin in Germany.
 The Indian Rupee strengthened against the US$ in the Quarter. This led to reversal of $87 Mn (
~4,396 Mn) of the marked to market losses on derivative options outstanding and foreign
currency loans. The impact has been accounted for below the EBITDA line.
 Ranbaxy launched India’s first new drug, SynriamTM on World Malaria day, April 25, 2012, for
the treatment of Plasmodium falciparum malaria, in adults.
 During the Quarter, 10 regulatory agencies from across the globe including the USFDA, World
Health Organization, European Union, African regulatory authorities, inspected Ranbaxy’s API
and Dosage Form (DF) facilities, in India and various locations across the world.
 The Company made 53 Dosage Form (DF) filings and received 20 approvals. For APIs, Ranbaxy
made 13 DMF submissions during the Quarter.
 In January 2012, Ranbaxy announced court approval of the Consent Decree (CD) filed with the
US Food and Drug Administration (FDA). The CD is expected to address legacy issues and bring
greater predictability to the Company’s business in the USA.
 Ranbaxy established a new manufacturing base in Morocco, paving the way for a direct business
presence in North Africa.
The Company’s Mohali manufacturing facility began supply of Atorvastatin tablets to the
US market after receiving approval from the US FDA in April 2012.
Global Sales
Consolidated sales for the Quarter were $736 Mn ( 37,002 Mn) as compared to $474 Mn (
21,453 Mn) in the corresponding quarter, of the previous year. Emerging markets contributed
$232 Mn, accounting for ~32% of total sales. Developed markets recorded $470 Mn of sales and
contributed 64% to total sales for the Company. API and others accounted for the remaining
revenue of $34 Mn for the Quarter.
North America: Sales for the Quarter was $416 Mn ( 20,934 Mn) [Q1 2011 sales $170 Mn (
7,691 Mn)]. USA had healthy base business sales and continued sale of 2 exclusivities viz
Atorvastatin and Amlodipine+Atorvastatin.
India including CHC and Sri Lanka: Sales for the Quarter was 5,002 Mn ($99 Mn) [Q1 2011
sales 4,422 Mn ($98 Mn)]. India business primary sales growth was 10%+ in Rupee terms,
impacted by stronger Rupee in the Quarter.
Europe & CIS: Sales for the Quarter was $101 Mn ( 5,075 Mn) [Q1 2011 sales $ 101 Mn (
4,552 Mn)]. Some of the sales growth is impacted by the weaker Euro against the $. Launched
Atorvastatin in multiple markets in the region.
APAC, ME, Africa, LATAM and API: Sales for the Quarter was $119 Mn ( 5,992 Mn) [Q1
2011 sales $106 Mn ( 4,787 Mn)].

globe.
Q2 (Apr-Jun)
RANBAXY RETURNS SALES GROWTH
OF 55% IN Q2 2012 WITH STRONGER
PROFITABILITY; RECEIVES APPROVAL
FOR MULTIPLE VALUE ADDED,
DIFFERENTIATED PRODUCTS
Aug 09, 2012:
Revenue and profitability numbers for Quarter 2, 2011 and 2012 and for Half Year (“H1’12″)
ended June 30, 2012 are of varying FTF contributions to the overall results.
 Consolidated sales were Rs. 31,741 Mn ($588 Mn) [Q2'11: Sales at Rs. 20,537 Mn ($459 Mn)].
 Growth of ~55% over the corresponding quarter on Indian Rupee (INR) terms.
 Operating Earnings before Interest, Tax, Depreciation & Amortization (EBITDA), excluding
exceptional forex impact was 16% of Sales at Rs. 5,113 Mn ($95 Mn) [Q2'11: EBITDA Rs. 2,110
Mn ($47 Mn)].
 Financial Performance for the half year ended June 30, 2012 (H1’12)
Consolidated sales were Rs. 68,695 Mn ($1,322 Mn) [H1'11: Rs. 41,948 Sales Mn ($932 Mn]
Business growth ~64% over corresponding quarter on INR terms
Operating Earnings before Interest, Tax, Depreciation & Amortization (EBITDA), excluding
exceptional forex impact was 22% of Sales at Rs. 15,075 Mn ($293 Mn) [H1'11: EBITDA Rs.
6,239 Mn ($139 Mn)]
Director, Ranbaxy, said, “Sales and profitability grew in the Quarter with overall improvement
across major regions, aided further by exclusivity sales in some of the key markets. We
capitalized on our product focus approach with the successful monetization of the Atorvastatin
and Atorvastatin + Amlodipine opportunities. The launch Synriam™, the first new drug from
India was one of the high points of the quarter. The strategy to build long term, differentiated
value drivers was rewarded with two NDA approvals in the dermatological space in the USA.”
Business
 Sales and profitability improved over the corresponding period.

 Sales grew in major markets including USA, India, East Europe & CIS, West Europe and Africa
over Q2 2011, on constant forex rates.
 USA sales were robust helped by strong base business and exclusivity sales.
 Exclusivity of Atorvastatin and Atorvastatin+Amlodipine ended during the quarter.
 Ranbaxy attained peak market share of over 50% on both products during the exclusivity period.
The Company has maintained strong market share and leadership, even after the entry of
multiple generic players post exclusivity.
 India sales growth was 13% in INR terms. Sales grew faster than the segment growth in which
the Company participates.
 During the quarter, Ranbaxy launched the first new drug from India , Synriam™ for the
treatment of Plasmodium falciparum malaria, in adults.
 Expanding on the Hybrid business model with Daiichi Sankyo (DS), Ranbaxy will introduce
Sevikar™, a fixed dose combination of Olmesartan Medoxomil and Amlodipine Pesylate in
Romania.
Financial
had an adverse impact on the Company mainly on account of application of the accounting
standards to Marking to Market the entire derivatives and foreign currency denominated loans
outstanding. There was a net charge of $160 Mn (Rs.8,759 Mn) on the P&L on account of the
forex items.
Regulatory, Research & Development
 Ranbaxy fortified its dermatology portfolio with two approvals from the U.S. Food and Drug
Administration (FDA):
 Absorica™ a novel, patented brand formulation of the acne medication isotretinoin, developed
by Cipher, for the treatment of severe recalcitrant nodular acne. The Company expects to
launch the product in the USA market by the end of 2012.
 Ximino™ a novel, patented brand formulation for the treatment of moderate to severe non-
nodular acne.
During the Quarter, 9 regulatory agencies from across the globe including World Health
Organization, European Union, Nigeria, Brazil etc., inspected Ranbaxy’s API and Dosage Form
(DF) facilities, in multiple locations across the world, including India.
The Company made 51 Dosage Form (DF) filings and received 33 approvals. For APIs, Ranbaxy
made 36 Drug Master File (DMF) submissions during the quarter.
Progress on the implementation of the Consent Decree has been per plan.
The Mohali-SEZ manufacturing facility supply of Atorvastatin tablets to the USA expanded
further during the quarter. US FDA approval was received in April 2012.
Global Sales
Consolidated sales for the Quarter were $588 Mn (Rs. 31,741 Mn) as compared to $459 Mn (Rs.
$231 Mn, accounting for39% of total sales. Developed markets recorded $328 Mn of sales and
contributed 56% to total sales for the Company. API and others accounted for the rest of the
revenue for the Quarter.
 North America: Sales for the quarter were $272 Mn (Rs. 14,711 Mn), a growth of 140% over Q2
2011, aided by strong base business and FTF sales. USA sales were $255 Mn (Rs. 13,771 Mn) in
Q2 2012.
 India and Sri Lanka: Sales for the Quarter were Rs. 5,540 Mn ($ 103 Mn), growth of 13%, on INR
basis over Q2 2011.
 Europe & CIS: Sales for the quarter were $102 Mn (Rs. 5,525 Mn), a growth of 19%, on constant
forex basis over Q2 2011. Romania sales were $21 Mn (Rs. 1,117Mn), affected by additional
“claw-back” charge impact taken during the Quarter. CIS sales were $25 Mn (Rs.1,354 Mn),
growth of 28% on constant forex basis over Q2 2011.
 APAC, ME, Africa, LATAM and API: Sales for the quarter were $112 Mn (Rs. 6,048 Mn). Emerging
market sales were impacted adversely in US Dollar terms due to the strengthening of the $
against such currencies.

3 (Jul-Sep)
RANBAXY DELIVERS STRONG
OVERALL BUSINESS PERFORMANCE;
IMPROVEMENT IN BASE BUSINESS
SALES AND MARGINS
Nov 08, 2012:
Q3 CY 2012 Sales Rs.26,514 Mn ($480 Mn), EBITDA Rs.4,179 Mn ($76 Mn)
EBITDA margin 16%; Sales growth of 31%
YTD Sep 2012 Sales Rs.95,209 Mn ($1,803 Mn), EBITDA Rs.17,699 Mn ($341 Mn)
EBITDA margin 19%; Sales growth of 53%
Gurgaon, India, November 08, 2012
500359), at their meeting held today, took on record the unaudited results for the Quarter and
YTD ended September 30, 2012 (“Q3’12″ and “YTD Sep’12″, respectively) under Indian
GAAP.
 Consolidated sales were 26,514 Mn ($480 Mn) [Q3'11: Sales 20,232 Mn ($442 Mn)]. Sales
growth of 31% over the corresponding quarter.
 Earnings before Interest, Tax, Depreciation & Amortization (EBITDA) was 16% of Sales at 4,179
Mn ($76 Mn) [Q3'11: EBITDA 1,324 Mn ($29 Mn)].
 Profit After Tax (PAT) was 7,542 Mn ($137 Mn) [Q3'11: Loss of 4,646 Mn ($103 Mn)]
 Base business profitability, excluding forex gain continued to improve.
Profitability below the EBITDA line in the Quarter was favourably impacted largely by mark-to-
market (MTM) gain on long dated derivatives contracts and foreign currency loans owing to a
stronger rupee; the impact was adverse in Q3, 2011.
Financial Performance for YTD ended Sepember 30, 2012 (YTD Sep’12)
 Consolidated sales were 95,209 Mn ($1,803 Mn) [YTD Sep'11: Sales 62,180 Mn ($1,374 Mn)]
Sales growth of 53% over the corresponding period.
17,699 Mn ($341 Mn) [YTD Sep'11: EBITDA 8,057 Mn ($178 Mn)].
 Profit After Tax (PAT) was 14,152 Mn ($ 276 Mn) [YTD Sep'11: 830 Mn ($19 Mn)]
Managing Director, Ranbaxy, said, “Ranbaxy’s business performance continued to strengthen
as planned even in a volatile regulatory and business environment as our focus on key markets,
improvement in manufacturing, R&D productivity and heightened level of cost consciousness
helped our strong performance. We are confident that these measures will help further strengthen
our base business.”
Business Highlights Q3, 2012
 The Company maintained leadership in Atorvastatin and Atorvastatin + Amlodipine post

exclusivity in May 2012.
 Ranbaxy launched Pioglitazone Hydrochloride as an authorised generic (Actos®; Innovator:
Takeda). Brand sales $2.7 Bn in the USA (IMS MAT June 2012).
 Ranbaxy launched authorised generic Cevimeline Hydrochloride 30 mg capsules in the USA
market. Cevimeline Hydrochloride is sold under the brand name Evoxac®.
 Sales in India grew faster than the growth in the Indian Pharmaceuticals Market, during the
Quarter.
 During the Quarter, 14 regulatory agencies from across the globe including the USA, European
Union, Africa agencies etc., inspected Ranbaxy’s facilities, in various locations across the world,
including India.
 Progress on the implementation of the Consent Decree has been as per plan.
 The Company made 31 Dosage Form (DF) filings and received 43 approvals. For Active
Pharmaceutical Ingredients (APIs), Ranbaxy made 12 Drug Master File (DMF) submissions during
the Quarter.
 Received approval to set up a Greenfield manufacturing facility by the government of Malaysia.
On completion, this facility will triple the existing manufacturing capacity in the focus market for
Ranbaxy
Global Sales
Consolidated sales for the Quarter were 26,514 Mn ($480 Mn) as compared to 20,232 Mn
($442 Mn) in the corresponding quarter, of the previous year. Emerging markets contributed
revenue for Q3’12.
 North America: Sales were $167 Mn ( 9,199 Mn), growth of over 60% on constant forex over
Q3, 2011. USA recorded total sales of $152 Mn ( 8,403 Mn) in the Quarter; base business sales
continued to be healthy.
 India (including Sri Lanka and Ranbaxy Consumer Healthcare): In the home market, Ranbaxy
sales were 5,829 Mn (~$106 Mn), up 13% from the corresponding quarter. The IPM slowed
down to ~10% growth levels during the Quarter.
o OTC business (Ranbaxy Consumer Healthcare) contributed 1,049 Mn (~$19 Mn), while
the acute part of business was impacted by industry-wide slow-down in the anti-
infective space.
 East Europe & CIS: The region recorded sales of $58 Mn ( 3,215 Mn). Romania and Russia sales
grew on constant forex basis.
 West Europe: Sales in the region were $44 Mn ( 2,439 Mn), a growth of 30% over Q3, 2011.
Sales grew in the UK, Germany and Italy.
 Africa: Sales in the region were $37 Mn ( 2,033 Mn), a decline of (6%). The Company entered
into an in-licensing agreement with Gilead Sciences to promote access to high quality, low cost
generic versions of Gilead’s HIV medicines.
 Asia Pacific (including Middle East): The region recorded sales of $24 Mn ( 1,342 Mn). Sales in
LATAM were ~$12 Mn ( 669 Mn).
 API business and others had revenues of $32 Mn ( 1,789 Mn).
Note: All sales growth numbers calculated on constant currency, i.e. excluding currency volatility, unless
mentioned otherwise.

Q4 (Oct-Dec)
RANBAXY SURPASS 2012 GUIDANCE;
CROSSES RS.120 BN IN GLOBAL SALES
Feb 26, 2013:
Q4 CY 2012 Sales Rs.26,708 Mn
CY 2012 Sales Rs.123 Bn, EBITDA Rs.18,227 Mn

EBITDA margin 15%. Sales growth of 23% in Rupee terms
500359), at their meeting held today, took on record the audited results for the Quarter and Year
ended Dec 31, 2012 (“Q4’12″ and “CY’12″ respectively) under Indian GAAP.
Financial Performance for the quarter ended Dec 31, 2012 (Q4’12)
 Consolidated sales were Rs.26,708 Mn [Q4'11: Sales Rs.37,520]. While absolute sales declined
over the corresponding quarter as Q4’11 sales included a large contribution from exclusivities,
on a like-to-like basis sales registered double digit growth.
 Earnings before Interest, Tax, Depreciation & Amortization (EBITDA) without considering
exceptional items, was Rs.528 Mn. Net Profit was a loss of Rs.4,924 Mn.
 Profitability for Q4’12 was primarily impacted by the voluntary recall which impacted the
quarter by Rs.1,860 Mn and mark to market (MTM) loss of Rs.2,619 Mn on long term derivative
contracts and foreign currency loans owing to a weaker rupee.
Financial Performance for the Year ended Dec 31, 2012 (CY’12)
 Consolidated sales were Rs.122,529 Mn [CY 11: Sales Rs.99,700 Mn] Sales growth of 23% in
rupee terms over the corresponding year.
 EBITDA without considering exceptional items was 15% of Sales at Rs.18,227 Mn [CY 11: EBITDA
Rs.16,040 Mn].
 Profit After Tax (PAT) was Rs.9,228 Mn [CY 11: Loss of Rs.28,998 Mn]
 PAT for CY’12 was 8% of sales after incorporating one time charges of Rs.1,860 Mn and Rs.1,652
Mn on account of recall and forex MTM mentioned earlier. Base business profitability, excluding
forex gains and one-time gains/ losses improved over the previous year.
Managing Director, Ranbaxy, said, “2012 was a mixed year for us. While we delivered our
strongest ever sales performance monetizing our major key product opportunities, we also faced
challenges, primarily the recall of atorvastatin in the US market at the end of the year. We took a
proactive action to voluntarily recall atorvastatin from the US market in the best interest of
patients. We have since taken several Corrective and Preventive Actions (CAPA) and
commenced shipment of the API to our formulation facility in the US.”
Adding further, Mr. Arun Sawhney said, “We have made good progress on the Consent Decree
honouring all our commitments till date. We continue to remain confident of monetizing our
large ANDAs. In line with our focus on differentiated products and branded strategy for the
developed markets, the Company launched Absorica®, as an NDA in the dermatological
segment in USA. We have taken significant steps which will position Ranbaxy to emerge
stronger with a competitive edge, in the rapidly changing business climate.”
Business
 Base business sales in Q4’12 and CY’12 improved by double digits over the corresponding
period.
o Sales grew in major emerging markets of India, Africa and East Europe & CIS over Q4’11.
For CY’12, sales improved in all major emerging and developed markets.
 Ranbaxy capitalized on product opportunities. Significant among them were:
o Launch of India’s first new drug, Synriam™, for the treatment of Plasmodium falciparum
malaria, in adults. Synriam™ featured amongst the top new product launches in the
Indian Pharmaceuticals Market (IPM).
o Launch of pioglitazone hydrochloride in the US as an authorised generic (AG) (Actos®;
Innovator: Takeda; Brand sales: $2.7 Bn in USA). Ranbaxy gained over 30% market
share.
o Leadership in Atorvastatin + Amlodipine (Caduet® AG) post exclusivity maintained.
o Launch of Absorica™, the isotretenoin NDA in Nov 2012; market share gain for the
branded product has been promising.
o Launch of cevimeline hydrochloride 30 mg. capsules as an authorised generic in the USA
market under the brand name Evoxac®.
 India sales growth at 12% was faster than IPM sales growth.
 Under the Hybrid Business Model, Ranbaxy and Daiichi Sankyo Co. Limited (DS) further
strengthened collaboration with the integration of their businesses in Thailand.
 During Q4’12, 15 regulatory agency inspections from the US FDA, EU Countries/ EMEA,
Germany, South Africa and India were conducted at Ranbaxy’s global manufacturing sites.
 In January 2012, Ranbaxy announced court approval of the Consent Decree (CD) filed with the
US Food and Drug Administration (FDA); progress on the implementation of the Consent Decree
has been per plan.
 Ranbaxy received approval to set up a Greenfield manufacturing facility by the Government of
Malaysia which will significantly enhance the existing manufacturing capacity and help catering
the ASEAN region. Earlier during the year, the Company established a new manufacturing base
in Morocco, paving the way for a direct business presence in North Africa.
Global Sales
corresponding quarter. Sales in Q4’11 were stronger as they had a large contribution from
exclusivity sales. On like-to-like basis sales grew in double digits over the corresponding quarter.
Consolidated sales in 2012 were Rs.122,529 Mn as compared to Rs.99,700 Mn in the

corresponding year, reflecting a growth of 23% in rupee terms.
Emerging markets contributed Rs.13,628 Mn accounting for ~51% of total sales during
the quarter and 41% during the year. Developed markets recorded Rs.10,938 Mn of sales
and contributed 41% to total sales for the Company during the quarter and 53% during
the year. API and others accounted for the rest of the revenue.
 North America: Sales for the Quarter were Rs.8,510 Mn. The region recorded sales of Rs.53,336
Mn for the year, a growth of 28% aided by strong exclusivity sales of Atorvastatin and
Amlodipine + Atorvastatin, and post exclusivity sales of these molecules.
o In USA sales for the quarter were Rs.7,371 Mn and for the year were Rs.49,677 Mn, a
growth of 31% over the corresponding period.
 India (including Sri Lanka and CHC): In the home market, sales for the Quarter were Rs.5,418
Mn, up 12% from the corresponding quarter. The IPM slowed down to ~9% growth levels during
the Quarter and 11% for the year.
o OTC business (Consumer Healthcare) contributed Rs.1,013 Mn.
Sales for the year were Rs.21,661 Mn, a growth of 12% for the year. Of this, Consumer
Healthcare sales contribution was Rs.3,733 Mn.
 East Europe & CIS: The region recorded sales of Rs.3,830 Mn, a growth of 17% over the
Annual sales were Rs.13,374 Mn, a growth of 8% for the year.
 West Europe: Sales for the Quarter were Rs.2,209 Mn, in line with Q4 2011. Sales for the year
were Rs.9,509 Mn, a growth of 21% aided by key product launch during the year.
 Africa: Sales for the Quarter were Rs.2,656 Mn, growth of 4%. Sales for the year were Rs.9,428
Mn, in line with corresponding year.
 Asia Pacific (including Middle East): Sales for the Quarter were Rs.1,354 Mn. Annual sales were
Rs.5,715 Mn, a growth of 6% over the corresponding year.
 Sales in LATAM were Rs.591 Mn for the quarter and Rs.2,201 Mn for the year.
 API business and others had revenues of Rs.2,142 Mn during the quarter and Rs.7,305 Mn for
the year.
Outlook for 2013: The Company expects to achieve sales of over Rs. 120 Bn in 2013, while also
growing its base business by over 10%.
Note: All sales growth numbers calculated on constant currency, i.e. excluding currency
volatility, unless mentioned otherwise

2011
Q1 (Jan-Mar)
RANBAXY CONTINUES TO IMPROVE
PERFORMANCE ACROSS DEVELOPED
AND EMERGING MARKETS
May 10, 2011:
The Board of Directors of Ranbaxy Laboratories Limited (RLL), at their meeting held today,
took on record the unaudited results for the quarter ended March 31, 2011.
Financial Performance for the quarter ended March 31, 2011 (Q1’11)
Ranbaxy’s base business Sales, EBITDA and PAT continued to improve and were higher than
the corresponding quarter. Revenue and profitability numbers for Q1, 2010 and 2011 are not
strictly comparable, because of the varying FTF contributions to the overall results.
 Consolidated net sales were $474 Mn (Rs. 21,468 Mn) [Q1’10: Sales $541 Mn (Rs. 24,847 Mn)]
 Earnings before Interest, Tax, Depreciation & Amortization (EBITDA) was 20% of Sales at $95 Mn
(Rs. 4,284 Mn) [Q1’10: EBITDA $214 Mn (Rs. 9,839 Mn)]
 Profit After Tax (PAT) was $67 Mn (Rs. 3,044 Mn) [Q1’10: $209 Mn, (Rs. 9,606 Mn)]
 Foreign exchange fluctuation impact in the quarter was insignificant
Commenting on the business results for the quarter, Mr. Arun Sawhney, Managing Director,
Ranbaxy, said, “We have started the year on a positive note and I am pleased with the sustained
performance of key geographies as they continued to deliver superior sales. Leadership
initiatives such as Viraat, in India, and a change in business models in some geographies, have
also provided further impetus.”
 The Company delivered strong operating margins during the quarter. This was largely on
account of better performance in India, the USA, Romania and Africa.
 Project Viraat is progressing as per plan. Ranbaxy grew faster than the Indian Pharmaceutical
Market (IPM). The Company improved its market share to 4.78%, as compared to 4.63% in
Q1’10. (IMS SSA Audit for the period Jan-Mar 2011).
 Performance in the USA was aided by growth in the base business and continued sales of
Donepezil, a First-to-File product launched in Q4’10.
 Ranbaxy redeemed the $440 Mn Foreign Currency Convertible Bonds, on the due date.
 Synergy projects with Daiichi Sankyo Co. Limited (DS) during the quarter included the marketing
of 4 DS products, in Singapore, including Cravit® (levofloxacin). Both companies continue to
work on multiple other manufacturing and cost reduction projects.
 The Company continues to co-operate with the US Food & Drug Administration and the
Department of Justice for a comprehensive solution to address its regulatory issues.
 During the quarter, over 10 regulatory agencies from across the globe, inspected and approved
Ranbaxy’s API and Dosage Form (DF) facilities, in multiple locations.
 For DF, the Company made 54 filings and received 29 approvals. For APIs, a total of 57 filings
were made, and 31 approvals were received during the quarter.
Global Sales
Consolidated sales for the quarter were $474 Mn (Rs. 21,468 Mn) as compared to $541 Mn (Rs.
24,847 Mn) in the corresponding quarter, previous year. Emerging markets contributed $237 Mn
in sales, a growth of 12%. Developed markets recorded sales of $212 Mn.
 North America: Sales in the region were $170 Mn (Rs. 7,691 Mn) primarily due to higher
contribution of FTF sales, in Q1’10. USA recorded sales of $155 Mn (Rs. 7,018 Mn) in the
Quarter.
 Europe: The region recorded sales of $74 Mn (Rs. 3,365Mn), a growth of 10%. Romania, with
sales of $27 Mn was a key driver.
 India: In the home market, sales were Rs. 4,357 Mn ($ 96 Mn), a growth of 14% in INR terms. Of
this, Sales in the Consumer Healthcare business stood at Rs. 590 Mn ($13 Mn), a growth of 35%.
 Asia Pacific: The region recorded sales of $17 Mn (Rs. 763 Mn), a growth of 17%, on account of
higher sales in some smaller markets.
 CIS: The region registered sales of $26 Mn (Rs. 1,187 Mn), a growth of 10% over the
 Africa: Sales in the region were $45 Mn (Rs. 2,018 Mn), a growth of 16%. Sales in LATAM were
$16 Mn. (Rs. 720 Mn).
 Active Pharmaceutical Ingredients business had sales of $25 Mn (Rs. 1,148 Mn).

globe.
Q2 (Apr-Jun)
RANBAXY’S BASE BUSINESS ACROSS
GEOGRAPHIES CONTINUES TO
DELIVER STRONG RESULTS
Aug 05, 2011:
and Half year ended June 30, 2011 (the “Q2’11” and “H1’11” respectively) under Indian GAAP.
Revenue and profitability numbers for Quarter 2, 2010 and 2011 and for Half Year (“H1’11”)
ended June 30, 2011 are not strictly comparable, because of the varying FTF contributions to the
overall results.
 Consolidated net sales were $461 Mn (Rs. 20,593 Mn) [Q2’10: Sales $456 Mn (Rs. 20,953 Mn]
(Base business growth ~18% over the corresponding quarter)
(Rs. 2,135 Mn) [Q2’10: EBITDA $91 Mn (Rs. 4,168 Mn)].
 Profit After Tax (PAT) was $54 Mn (Rs. 2,432 Mn) [Q2’10: $71 Mn, (Rs. 3,257 Mn)]
Financial Performance for the half year ended June 30, 2011 (H1’11)
 Consolidated net sales were $935 Mn (Rs. 42,056 Mn) [H1’10: Sales $996 Mn (Rs. 45,791 Mn]
(Base business growth ~16% over the corresponding period)
 Earnings before Interest, Tax, Depreciation & Amortization (EBITDA) was 15% of Sales at $143
Mn (Rs. 6,419 Mn) [H1’10: EBITDA $313 Mn (Rs. 14,410 Mn)]
 Profit After Tax (PAT) was $122 Mn (Rs. 5,476 Mn) [H1’10: $280 Mn, (Rs. 12,863 Mn)]
Commenting on the business results for the quarter, Mr. Arun Sawhney, Managing Director,
Ranbaxy, said, “We have consciously worked towards strengthening our base business on the
one hand and successfully delivering on multiple first to file opportunities on the other.”
Business
 The Company’s base sales, i.e. sales without accounting for exclusivities have continued to
strengthen.
 Improved top line performance in the Quarter has been driven by India, Europe, Romania, Asia
Pacific, CIS, Africa and Active Pharmaceutical Ingredients business (API).
 Project Viraat, Ranbaxy’s initiative for the India market has gained ground with a growth rate
18% as compared to 15% for the Indian Pharma market (IMS YTD June 2011). Market share of
the Company also improved to 4.79% (IMS SSA Audit YTD June 2011), when compared with
4.63% (IMS SSA Audit YTD June 2010).
 The USA base business continued to be robust. During the Quarter, exclusivity on Donepezil, a
First-to-File product launched in Q4’10 came to an end.
 Synergy projects with Daiichi Sankyo Co. Limited (DS) during the Quarter included exploratory
work on multiple front-end, manufacturing and cost reduction projects.
 In relation to a competitor’s petition to block Ranbaxy’s generic Lipitor (Atorvastatin), a decision
was rendered by the US District Court in the favor of the United States Food and Drug Authority
(USFDA) & Ranbaxy.
 Ranbaxy launched Olanzapine Tablets, the generic version of Zyprexa, on Day-1 in Spain.
Zyprexa is the innovator product of Eli Lilly with a market size of $ 210 Mn (Source: Spain 2010
IMS Data).
 Ranbaxy continued to co-operate with the USFDA and the Department of Justice for a
comprehensive solution to its regulatory issues. Negotiations with the regulators are
progressing well.
 During the Quarter, 10 regulatory agencies from across the globe including USFDA, World Health
Organization, European Union etc., inspected Ranbaxy’s API and Dosage Form (DF) facilities, in
multiple locations across the world, including India.
 Ranbaxy has filed an Abbreviated New Drug Application (ANDA) with the USFDA seeking
approval to market Oxycodone Hydrochloride Extended-Release tablets in the 30, 40, 60 and 80
mg strengths.
 For DF, the Company made 38 filings and received 26 approvals. For APIs, a total of 33 DMF
submissions were made during the quarter.
Global Sales
$261 Mn, accounting for 57% of total sales. Developed markets recorded $157 Mn of sales and
 North America: Sales in the region were $112 Mn (Rs. 4,977 Mn) aided by FTF sales, in Q2’11.
USA recorded total sales of $95 Mn (Rs. 4,229 Mn) in the Quarter; base business sales also
continued to be healthy.
 Europe: The region recorded sales of $79 Mn (Rs. 3,557 Mn), a growth of 15% year on year.
Romania, with sales of $30 Mn was a key driver.
 India: In the domestic market, sales were Rs. 4,822 Mn ($ 108 Mn), a growth of 11%. Of this,
Sales in the Consumer Healthcare business stood at Rs. 759 Mn ($17 Mn).
 Asia Pacific: The region recorded sales of $23 Mn (Rs. 1,039 Mn), a growth of 24%, on account of
higher sales in most of the markets.
 CIS: The region registered sales of $21 Mn (Rs. 949 Mn), a growth of 5% over the corresponding
quarter.
 Africa: Sales in the region were $51 Mn (Rs. 2,296 Mn), a growth of 33% helped by Tender sales
contribution. Sales in LATAM were $17 Mn. (Rs. 761 Mn).
 Active Pharmaceutical Ingredients (API) business had strong sales of $40 Mn as compared to
previous year aided by sales of Esomeprazole API to AstraZeneca.

globe.
Q3 (Jul-Sep)
RANBAXY DELIVERS STRONG
OVERALL BASE BUSINESS
PERFORMANCE AND IMPROVEMENT
IN EBITDA MARGINS
Nov 09, 2011:
September 30, 2011 (the “Q3’11”) under Indian GAAP.
 Consolidated sales were $443 Mn (Rs. 20,280 Mn) [Q3’10: Sales $404 Mn (Rs. 18,809 Mn] (Base
business, excluding FTF growth 10% over the corresponding quarter).
(Rs. 2,332 Mn) [Q3’10: EBITDA $29 Mn (Rs. 1,386 Mn)].
 Profit After Tax (PAT) was -$103 Mn (-Rs. 4,646 Mn) [Q3’10: $66 Mn, (Rs. 3,079 Mn)]
The company’s profitability below EBITDA line was impacted adversely owing largely to the
requirement to mark-to-market (MTM) the long dated derivative transactions entered into by
the company in earlier years and which remain currently outstanding as well as on the forex
denominated loans.
Financial Performance for the nine months ended September 30, 2011 (FY YTD Sep’11)
 Consolidated net sales were $1,378 Mn (Rs. 62,336 Mn) [FY YTD Sep’10: Sales $1,401 Mn (Rs.
64,600 Mn] (Base business, excluding FTF growth ~13% over the corresponding period)
 Earnings before Interest, Tax, Depreciation & Amortization (EBITDA) was 14% of Sales at $193
Mn (Rs. 8,751 Mn) [FY YTD Sep’10: EBITDA $349 Mn (Rs. 16,087 Mn)]
 Profit After Tax (PAT) was $18 Mn (Rs. 830 Mn) [FY YTD Sep’10: $346 Mn, (Rs. 15,942 Mn)].
 Revenue and profitability numbers for FY YTD Sep’11 ended September 30, 2011 includes
adverse impact arising out of MTM of forex exposure.
Director, Ranbaxy, said, “Ranbaxy’s focus on long term improvement of its base business and
margins has begun to reflect in the Company’s performance. This is resulting from an increased
focus on strengthening manufacturing processes while re-aligning our products and markets for
value creation.”
Business
 Sales and EBITDA margins on base business continued to improve.

 Growth in most major markets including CIS, Africa, Europe, Asia Pacific, and Active
Pharmaceutical Ingredients business (API).
 In India, Ranbaxy’s growth was 18% compared to 15% for the Indian Pharma market (IMS SSA
Sep 2011). Market share of the Company also improved to 4.76% (IMS SSA Sep 2011), when
compared with 4.61% (IMS SSA Audit Sep 2010).
 USA base business continued to be strong.
 Ranbaxy launched Letrozole Tablets, the generic version of Femara, on Day-1 in the UK, France
and Romania. Letrozole is the innovator product of Novartis with a market size of $155 Mn. The
Company also launched Esomeprazole Tablets, the first generic version of Nexium in the UK.
Nexium is an AstraZeneca product and has a market size of £60 Mn in the UK (IMS June 2011).
 The OTC business division of Ranbaxy, launched “Volini Duo”, India’s first approved two-in-one
pain killer, a unique bi-layered Acetaminophen tablet, specially formulated to give dual pain
relief to chronic back and joint pains.
 Ranbaxy continues to co-operate and negotiate with the USFDA and the Department of Justice
for a comprehensive settlement to address its regulatory issues.
 During the Quarter, 11 regulatory agencies from across the globe including the World Health
Organization, European Union, African regulatory authorities etc., inspected Ranbaxy’s API and
Dosage Form (DF) facilities, in various locations across the world, including India.
 The Company made 55 Dosage Form (DF) filings and received 32 approvals. For APIs, Ranbaxy
made 38 Drug Master Filings during the Quarter.
Global Sales
 North America: The region sales were $103 Mn (Rs. 4,720 Mn). USA recorded total sales of $84
Mn (Rs. 3,858 Mn) in the Quarter; base business sales continued to be healthy.
 India: In the home market, Ranbaxy sales were Rs. 5,157 Mn ($ 113 Mn), up from Rs. 4,844 Mn
($104 Mn). Consumer Healthcare, or the OTC business contributed Rs. 866 Mn ($19 Mn), while
the acute therapy part of business was impacted by industry-wide slow-down in the anti-
infective space.
 Europe: The region recorded sales of $72 Mn (Rs. 3,308 Mn), a growth of 21% year on year. The
Branded Generics markets of Romania, South & Central Europe had strong growth when
compared to the previous year; In France business recovery was healthy.
CIS: Sales in the region were $32 Mn (Rs. 1,456 Mn), a smart growth of 22% over the
 Africa: Sales in the region were $44 Mn (Rs. 2,009 Mn), a growth of over 20%, aided by tender
sales in the region.
 Asia Pacific (including Middle East and Sri Lanka): The region recorded sales of $28 Mn (Rs. 1,266
Mn). Sales in LATAM were $16 Mn. (Rs. 746 Mn).
 Active Pharmaceutical Ingredients (API) and others had strong revenues of $35 Mn (Rs.1,618
Mn).

Q4 (Oct-Dec)
Ranbaxy crosses $2 bn in global sales
Feb 23, 2012:
Consolidates for next phase of growth
Q4 2011 Sales Rs.37,433 Mn ($736 Mn), EBITDA Rs.9,548 Mn ($188Mn)
CY 2011 Sales Rs.99,769 Mn ($2,114 Mn), EBITDA Rs.18,299 Mn ($381 Mn)
Gurgaon, India, February 23, 2012
500359), at their meeting held today, took on record the audited results for the Quarter and Year
ended December 31, 2011.
Consolidated Financial Performance for the Quarter ended December 31, 2011 (“Q4 11″ or
“Quarter”)
 Consolidated sales were Rs.37,433 Mn ($736 Mn) [Q4'10: Sales Rs.20,907 Mn ($468 Mn)].
Rs.9,548 Mn ($188 Mn) [Q4'10: EBITDA Rs. 2,302 Mn ($53 Mn)].
The Consolidated Financial results took account of significant exceptional charges below the
EBITDA line in the Quarter on account of (i) Provision: $500 Mn in connection with the
investigation by the U.S. Department of Justice, and, (ii) Forex: long term outstanding forex call
options sold by the Company in earlier years and foreign currency loans marked to market as a
matter of prudent accounting. Consequently net loss, after tax and minority interest, of Rs.29,828
Mn ($586 Mn) was recorded for the Quarter, (iii) During the Quarter, the Company took an
exceptional impact of Rs. 1,357 Mn towards impairment and inventory provisions.
Consolidated Financial Performance for twelve months ended December 31, 2011 (“CY 2011″)
 Consolidated sales were Rs.99,769 ($2,114 Mn) [CY 2010: Sales Rs.85,507 Mn ($1,868 Mn)]
(Base business, excluding FTF grew over the corresponding period).
Rs.18,299 Mn ($381 Mn) [CY 2010: EBITDA Rs.18,389 Mn ($402 Mn)].
Revenue and profitability numbers for the year ended December 31, 2011 are not strictly
comparable with the previous year, on account of varying impact of First to File contributions in
both years; negative impact due to exceptional items related to provision in connection with the
U.S. Department of Justice and Forex Marked to Market as a matter of prudent accounting
against a backdrop of unprecedented volatility. Consequently, net loss after tax and minority
interest, of Rs.28,997 Mn ($568 Mn) was recorded for the Year.
Commenting on the business results, Mr. Arun Sawhney, CEO & Managing Director, Ranbaxy,
said, “I am delighted to share with you that Ranbaxy is the first Pharma Company of Indian
origin to have surpassed sales of $2 Bn. We successfully launched our Atorvastatin, generic
Lipitor® in the US. I am satisfied with the progress we are making in resolving the long standing
issues with the US regulators. The settlement with the US FDA and provision for eventual
penalties that the DOJ may levy, brings greater predictability to our business in the US, one of
our largest markets.”
“During the year, we laid emphasis on strengthening our processes, focussing R&D efforts on
our chosen therapies, working towards improving manufacturing efficiencies and costs, re-
evaluating our brand marketing strategy and directing our energies at markets of greater
importance.”
Business
 In the US, Ranbaxy successfully launched Atorvastatin with 180 days exclusivity (Generic
Lipitor®; Innovator: Pfizer) on Nov 30, 2011. The Company also capitalized on Caduet® as an
authorized generic, AG (Atorvastatin + Amlodipine). Lipitor was the largest drug in the world
with U.S. sales of $7.9 Bn (IMS 2010). Market size of Caduet in the U.S. was $339 Mn.
 Base business, excluding FTF, also registered growth over the corresponding period.
 Sales and EBITDA margins on base business, excluding exceptional items and MTM impact,
continued to improve over the corresponding period.
 Recorded growth in most major markets/ businesses including North America, India, Africa and
Active Pharmaceutical Ingredients (API) business.
 In India, Ranbaxy growth in the secondary market was 16%, above the 15% growth rate
recorded as a whole for the Indian Pharma market. Market share of the Company also improved
to 4.69%, when compared with 4.65% (IMS SSA Audit Dec 2011).
 USA base business continued to be strong.
 Ranbaxy redeemed the $440 Mn Foreign Currency Convertible Bonds, on the due date.
 Ranbaxy and Daiichi Sankyo Co. Limited (DS) further strengthened the Hybrid Business model.
While Ranbaxy will take DS innovator products to market in countries such as Italy, Singapore
and Malaysia; DS will gain from Ranbaxy’s expertise in Mexico. Taking forward their
commitment to society, both companies joined hands on new social contribution projects
encompassing India, Cameroon and Tanzania.
 Ranbaxy signed a Consent Decree (CD) agreement with the U.S. FDA which was approved by
District Court of Maryland on Jan 26, 2012.
 A provision of $500 Mn has been made to settle any liabilities, in connection with the
investigation of the Department of Justice (DOJ).
 Received permission from the Central Drugs Standard Control Organization (CDSO) to
manufacture and market an anti-malaria molecule for treatment of P. Falciparum malaria. This
marks the beginning of successful drug development in India with Ranbaxy leading the way
 During the Quarter, 10 regulatory agencies from across the globe including the USFDA, World
Health Organization, European Union, Korea, Malaysia etc., inspected Ranbaxy’s API and Dosage
Form (DF) facilities, in various locations across the world, including India. For the year, 42
inspections were conducted by 18 different regulatory inspection agencies.
 During the year, the Company made 231 Dosage Form (DF) filings and received 180 new
approvals. For APIs, Ranbaxy made 160 DMF submissions during the year.
Global Sales
 Consolidated sales during the Quarter recorded growth of 57% at Rs.37,433 Mn ($736 Mn).
Consolidated sales in 2011 were Rs.99,769 Mn ($2,114 Mn) as compared to Rs.85,507 Mn
($1,868 Mn) in the corresponding year, reflecting a growth of 13%. Sales in Emerging markets
were $1,003 Mn while Developed markets aided by FTFs had sales of $966 Mn for the year. API
and others accounted for the rest of the revenue.
 North America: Sales during the Quarter grew by over 230% to Rs.19,666 Mn ($407 Mn ) aided
by monetization of first to file exclusivities.
 The region recorded sales of Rs.38,064 Mn ($791 Mn) for the year, a growth of 18%. In the USA
sales for the year were Rs.34,772 Mn ($720 Mn), a growth of 27%.
 India: During the Quarter sales were Rs.4,818 Mn ($95 Mn). Ranbaxy’s performance has been
impacted due to slowdown in the market, especially in Acute therapies, including Anti Infectives
in the second half of 2011.
 Indian Pharma business recorded sales of Rs.19,513 Mn ($412 Mn), a growth of 7% for the year.
Of this, Consumer Healthcare or the OTC business recorded sales of Rs.3,110 Mn ($67 Mn), a
growth of over 20% for the year.
 In the India market, Ranbaxy is working on consolidating its branded presence both in Acute and
Chronic segments.
 Europe: Sales for the Quarter were at par with those of the corresponding quarter at Rs.3,807
Mn ($75 Mn). Growth came from the Emerging markets of South & Central Europe.
 The region recorded sales of Rs.13,866 Mn ($297 Mn) for the year, a growth of 11%.
 CIS: During the Quarter sales were Rs.1,439 Mn ($28 Mn), 9% de-growth over the corresponding
quarter. The region recorded sales of Rs.5,031 Mn ($108 Mn), 6% growth for the year.
 Africa: During the Quarter sales grew by 18% to Rs. 2,477 Mn ($49 Mn). Sales in the region were
Rs.8,825 Mn ($189 Mn), which reflect a growth of 23% for the year, aided by tender sales in the
region.
Asia Pacific (including Middle East and Sri Lanka): Sales during the Quarter were Rs.1,444 Mn
($28 Mn), a marginal de-growth over the corresponding quarter.
 The region recorded sales of Rs.5,027 Mn ($108 Mn), a growth of 8% for the year.
 Sales in LATAM were Rs.656 Mn. ($13 Mn) for the Quarter, a de-growth of almost 1/3rd over the
corresponding quarter. Sales for the year were Rs.2,826 Mn ($61 Mn).
 Active Pharmaceutical Ingredients (API) and others revenues grew 8% to Rs.2,182 Mn ($43 Mn)
during the Quarter.
 API and others grew by 26% to record revenues of Rs.6,774 Mn ($144 Mn) for the year.
 Outlook: For 2012, the Company expects to achieve base case sales of $2.2 Bn not taking into
account any upside from FTF exclusivity launched during the year.

globe. For more information, please visit www.ranbaxy.com
2010
Q1 (Jan-Mar)
RANBAXY DELIVERS QUARTERLY
SALES OF OVER USD 500 MN FOR THE
FIRST TIME RECORDS PROFIT AFTER
TAX OF USD 210 MN
May 11, 2010:
The Board of Directors of Ranbaxy Laboratories Limited (RLL), at their meeting held today,
took on record the unaudited results for the quarter ended March 31, 2010.
Financial Performance for the quarter ended March 31, 2010 (Q1’10)
 Consolidated net sales were at USD 542 Mn (Rs 24,902 Mn), a growth of 65% (at constant forex)
over Q1’09 [Q1’09: USD 313 Mn (Rs. 15,584 Mn)].
 Earnings before Interest, Tax, Depreciation & Amortization (EBITDA) was 55% of Sales at USD
298 Mn (Rs.13,711 Mn) [Q1’09: Loss of USD 201 Mn (Rs. 10,010 Mn)].
 Operational EBITDA, excluding forex translations, was 42% of Sales against break even
in Q1’09.
 Profit After Tax (PAT) was USD 210 Mn (Rs. 9,631 Mn) [Q1’09: Loss of USD 153 Mn, (Rs. 7,610
Mn)].
However, Operational PAT, excluding forex translations, was USD 143 Mn (Rs. 6,571 Mn), as
against loss of USD 5 Mn (Rs. (262) Mn) in Q1’09.
Commenting on the business results for the quarter, Mr. Atul Sobti, CEO and Managing
Director, Ranbaxy, said, “Solid growth in key geographies, along with optimal delivery value
from First-to-File opportunities in the USA, ensured that we achieved yet another quarter of
strong operational performance. We also launched Project Viraat, a comprehensive program
aimed at India leadership, in January.”
 The trend of improvement in the Company’s operating margins continued during the Quarter.
The improvement was on account of robust growth in key markets, monetization of First-to-File
(FTF) opportunities in the USA, and a continued focus on costs.
 In the USA, Valacyclovir, an FTF product launched in Q4’09, has achieved a market share of over
60%. The Company also launched an authorised generic of Oxycodone ER tablets, during the
Quarter.
 During the Quarter, the Company entered the Vaccines arena, with the acquisition of product
rights and a manufacturing facility from Biovel Lifesciences, based in Bangalore. Along with
Ranbaxy’s earlier entry into Biologics, this new space provides a high potential future growth
area for the Company.
 The Company settled a patent litigation with Takeda Pharmaceutical Company Limited, which
will enable Ranbaxy to launch its generic version of Pioglitazone Hydrochloride (Actos®) in the
USA, in August 2012, or earlier under certain circumstances.
 Project Viraat rolled out in India, with an aim to attain leadership position in the Indian
pharmaceutical market.
 Several synergy projects with Daiichi Sankyo Co. Limited (DS) are under various stages of
execution. In Japan, DS announced the establishment of a new company, Daiichi Sankyo Espha
Co. Ltd. (DSECL) to market generic drugs. Ranbaxy will have the opportunity to develop,
manufacture and supply products to DSECL, for the Japanese market.
 The Company continues to co-operate with the US FDA and the Department of Justice, for early
resolution of all outstanding issues. Various inspections were conducted by other regulators
from across the world, and Ranbaxy remains compliant for supply.
 During the quarter, as already reported, the Company’s US subsidiary, Ranbaxy Pharmaceuticals
Inc., conducted a voluntary recall of two specific batches of a product. While Ranbaxy tested the
batches in question and found them to be within specification, based on a limited number of
complaints, the Company decided to recall the batches as a matter of caution, given its
commitment to the health and safety of patients.
 During the Quarter, the Company made 43 filings and received 45 approvals for dosage forms.
For APIs, a total of 34 filings were made, and 33 approvals were received.
Global Sales
Consolidated sales in the Quarter were USD 542 Mn (Rs. 24,902 Mn), 65% growth over Q1’09.
Sales in emerging markets were USD 212 Mn, a growth of 15%, and contributed 39% to sales.
Developed markets recorded sales of USD 304 Mn, a growth of 145%, primarily on account of
FTF revenues in USA.
 North America: Sales in the region were USD 264 Mn (Rs. 12,106 Mn), a growth of 222%. USA
recorded sales of USD 251 Mn (Rs. 11,515 Mn), exhibiting buoyant growth of 266%, primarily
driven by FTF sales.
 Europe: The region recorded sales of USD 67 Mn (Rs. 3,100 Mn), a growth of 10%. Sales in
Romania showed a recovery during the Quarter, and grew by 14%.
 India: The domestic pharmaceuticals business recorded sales of Rs. 3,452 Mn (USD 75 Mn), a
growth of 6% in INR terms. Excluding a large government tender in Q1’09, the growth was 15%.
Sales in the Consumer Healthcare business were at Rs. 436 Mn (USD 10 Mn), a growth of 50%.
Revital is now the 6th largest product in the Indian Pharmaceutical Market (MAT Feb’10).
Ranbaxy continued to be the 2nd largest Company with 4.9% market share (MAT Feb’10) in the
Indian pharmaceutical market.
 Asia Pacific: The region recorded sales of USD 14 Mn (Rs. 662 Mn), a de-growth of 38%, primarily
due to divestment of certain businesses in Vietnam and China in the previous financial year.
 CIS: Sales in the region recovered well to USD 24 Mn (Rs. 1,097 Mn), a growth of 26%.
 Africa: The region recorded sales of USD 39 Mn (Rs. 1,770 Mn), a growth of 30%.
 Latin America: The region achieved sales of USD 19 Mn (Rs. 895 Mn), a growth of 40%.
 Active Pharmaceutical Ingredients business recorded sales of USD 25 Mn (Rs. 1,165 Mn), a
growth of 11%.
Sales growth % are calculated at constant exchange rate over Q1’09, unless specified otherwise.

geographies. Ranbaxy’s continued focus on R&D has resulted in several approvals in developed
markets and significant progress in New Drug Discovery Research. The Company’s foray into
Novel Drug Delivery Systems has led to proprietary “platform technologies,” resulting in a
number of products under development. The Company is serving its customers in over 125
countries and has an expanding international portfolio of affiliates, joint ventures and alliances,
ground operations in 46 countries and manufacturing operations in 7 countries. Ranbaxy is a
member of the Daiichi Sankyo Group. Daiichi Sankyo is a leading global pharma innovator,
headquartered in Tokyo, Japan.
For further information please contact:
Ranbaxy Laboratories Limited
Ramesh Adige
President – Corporate Affairs and
Global Corporate Communications
email: ramesh.adige@ranbaxy.com Tel: +91-124-4135000
Raghu Kochar
Director-Corporate Communications
email: raghu.kochar@ranbaxy.com Tel: +91-124-4135141
Mobile: 9811617256
Krishnan Ramalingam
General Manager – Corporate Communications
email: krishnan.ramalingam@ranbaxy.com Tel: +91-124-4135143
Mobile: 9810042540
Q2 (Apr-Jun)
RANBAXY ACHIEVES USD 1 BILLION
REVENUE AND USD 282 MN PAT FOR
H1’2010. AFTER RECORD Q1 SALES, Q2
GROWTH AT 22%
Aug 12, 2010:
 Consolidated sales were at USD 458 Mn (Rs 21,029 Mn), a growth of 22% over Q2’09. [Q2’09:
USD 368 Mn (Rs. 17,953 Mn)].
 Earnings before Interest, Tax, Depreciation & Amortization (EBITDA) was at USD 90 Mn (Rs.
4,168 Mn), a margin of 20% to sales. [Q2’09: USD 11 Mn (Rs. 568 Mn)].
 Profit after tax was USD 72 Mn (Rs. 3,320 Mn), a margin of 16%. [Q2’09: USD 139 Mn, (Rs. 6,931
Mn)]. Operational PAT, i.e. PAT excluding forex and exceptional items was USD 100 Mn (Rs.
4,574 Mn). [Q2’09: USD 2 Mn (Rs. 93 Mn)].
Financial Performance for the half year ended June 30, 2010 (H1’10)
 Consolidated sales were at USD 999 Mn (Rs 45,931 Mn), a growth of 42% over H1’09. [H1’09:
USD 682 Mn (Rs. 33,537 Mn)].
 Earnings before Interest, Tax, Depreciation & Amortization (EBITDA) was USD 313 Mn (Rs.
14,410 Mn), a margin of 31% to sales. [H1’09: USD 2 Mn (Rs. 106 Mn)].
 Profit after tax was USD 282 Mn (Rs. 12,951 Mn), a margin of 28%. [H1’09: loss of USD (14) Mn,
(Rs. (679) Mn)]. Operational PAT, i.e. PAT excluding forex and exceptional items was USD 205
Mn (Rs. 9,442 Mn). [H1’09: USD (13) Mn (Rs. (639) Mn)].
Commenting on the business results for the Quarter, Mr. Atul Sobti, CEO and Managing
Director, Ranbaxy, said, “The Company delivered another quarter of good growth as a result of
our effort to maximize First-to-File opportunities in the USA, and a healthy operational
performance led by key geographies. The transfer of New Drug Discovery Research assets to
Daiichi Sankyo will provide a sharper focus to our R&D effort, in our core area of generics. This
is in line with our commitment to optimize synergies through the Hybrid Business Model.” Mr.
Sobti further added, “I am proud to share that Ranbaxy has stepped into its 50th year of
incorporation. I would like to take this opportunity to thank all stakeholders for reposing their
confidence, and being part of this enriching journey.”
 The Company’s operating margins improved during the Quarter vis-à-vis corresponding previous
quarter, on account of sales of First-to-File (FTF) products in the USA, and balanced growth
across markets.
 Most markets/businesses grew during the Quarter with robust growth across some of the
Company’s key markets/ businesses, including USA; Europe, led by Romania; CIS led by Russia,
and India.
 To sharpen its focus on generics, the Company reached an agreement to transfer its New Drug
Discovery Research assets, to Daiichi Sankyo India Pharma Pvt Ltd (DSIN).
 Ranbaxy launched Atorvastatin in Canada and South Africa. The launch in Canada, was under the
Company’s global settlement with Pfizer®. In South Africa, Ranbaxy was the first to launch a
generic version in the market.
 Valacyclovir, an FTF product in the USA, achieved a peak market share of 74% before the end of
exclusivity during the Quarter.
 The Company introduced Daiichi Sankyo’s innovative anti-platelet drug Prasita™ (Prasugrel), in
India. During the Quarter, Ranbaxy launched 31 new products in India, including 3 in-licensed
products.
 The Company made 32 filings and received 35 approvals for dosage forms during the Quarter.
For APIs, a total of 19 (15 APIs) filings were made, and 32 (15 APIs) approvals were received.
 The Company continues to co-operate with the US FDA and the Department of Justice, for early
resolution of all outstanding issues. The Company’s facilities underwent inspections by other
regulators, and Ranbaxy remains compliant for supply.
 During the Quarter, emerging markets recorded sales of USD 230 Mn, a growth of 6%, and
contributed about 50% to global sales. Sales in developed markets amounted to USD 203 Mn, a
growth of 63%.
 North America region recorded sales of USD 160 Mn (Rs. 7,376 Mn) for the Quarter, a growth of
100%. For H1’10, revenues amounted to USD 424 Mn (Rs. 19,482 Mn), a growth of 162% over
the previous year, on the back of a successful launch of Valacyclovir.
 Europe recorded sales of USD 69 Mn (Rs. 3,195 Mn), a growth of 15% during the Quarter. For
H1, sales were at USD 137 Mn (Rs. 6,295 Mn), up 13% from the previous year. In Romania, the
growth momentum continued during the Quarter, and the Company posted a strong increase of
27%, in revenue, during Q2’10.
 India sales were at Rs. 4,487 Mn (USD 98 Mn), almost at the same level as previous
corresponding quarter. Excluding tenders, sales grew by 11% during the same period. For H1’10,
sales were at Rs. 8,375 Mn (USD 183 Mn). Continuing its healthy performance, the Consumer
Healthcare business recorded a growth of 24% during H1’10 and attained No. 1 rank in its
represented market during the Quarter.
 The CIS region recorded sales of USD 20 Mn (Rs. 927 Mn), a growth of 33%. For H1’10, sales
were at USD 44 Mn (Rs. 2,024 Mn), up by 29% from previous year.
 The Africa region achieved sales of USD 39 Mn (Rs. 1,774 Mn), a growth of 6% during the
Quarter. For H1’10, sales were at USD 77 Mn (Rs. 3,544 Mn), up 16% from the previous year.
 The API business recorded sales of USD 26 Mn (Rs. 1,197 Mn), and USD 51 Mn (Rs. 2,362 Mn) for
H1’10.
 Rest of the World sales were at USD 45 Mn (Rs. 2,072), a de-growth of 11%. For H1’10, sales
were at USD 83 Mn (Rs. 3,849 Mn), a de-growth of 10%. This was largely on account of
divestment of certain businesses in China and Japan. Growth, excluding divested businesses,
was 8% for the Quarter.
Due to forex volatility all growth figures in USD are calculated at constant exchange rate. All
growth rates are vs. Q2’09/H1’09, unless stated otherwise.

Ranbaxy Laboratories Limited

Ramesh Adige
Raghu Kochar
Mobile: 9811617256
Krishnan Ramalingam
Mobile: 9810042540
Q3 (Jul-Sep)
RANBAXY DELIVERS CONTINUED
GROWTH IN SALES AND PAT FOR Q3,
2010 SALES FOR THE QUARTER AT USD
406 MILLION (+13%), PAT AT 16.5% OF
SALES
Nov 11, 2010:
Financial Performance for the quarter ended September 30, 2010
 Consolidated sales were at USD 406 Mn (Rs. 18,872 Mn), a growth of 13% over Q3’09. [Q3’09:
USD 356 Mn (Rs. 17,205 Mn)].
1,386 Mn), a margin of 7% to sales. [Q3’09: USD 44 Mn (Rs. 2,133 Mn)].
 Profit after tax was USD 67 Mn (Rs. 3,128 Mn), a margin of 16.5%. [Q3’09: USD 24 Mn, (Rs. 1,166
Mn)].
Financial Performance for nine months ended September 30, 2010
 Consolidated sales were at USD 1,405 Mn (Rs 64,803 Mn), a growth of 32%.
16,087 Mn), reflecting a margin of 25%.
 Profit after tax was at USD 349 Mn (Rs. 16,079 Mn), a margin of 25%.
Commenting on the business results for the Quarter, Mr. Arun Sawhney, Managing Director,
Ranbaxy, said, “Our key markets continued to perform well attributable in large measure to
balanced sales across geographies. This has also been aided by the favorable forex movement.
As we move forward, our focus will be on bettering operational performance, maximizing
synergies with Daiichi Sankyo and on seeking a speedy resolution to the challenges in the USA.”
The Company’s net margin improved during the Quarter in comparison to the corresponding
quarter in the previous year. This was largely, on account of continuing sales of Valacyclovir,
post exclusivity and good growth in most key markets. Valacyclovir was a First-to-File (FTF)
product in the USA.
 Major markets/businesses including North America, India, Consumer Healthcare, Romania, CIS,
and Latin America grew during the Quarter.
 Continuing to leverage the Hybrid Business Model being pursued by Ranbaxy and Daiichi Sankyo
Co. Ltd., Japan (DS), the companies announced plans for Ranbaxy to market Tavanic®
(Levofloxacin), in Romania and South Africa. Levofloxacin is a synthetic antibacterial agent
originally discovered by DS.
 Globally, the Company made 37 filings and received 47 approvals for dosage forms during the
Quarter.
 Ranbaxy is co-operating fully with the US FDA and the Department of Justice, for early and
comprehensive resolution of all outstanding issues. The Company has put in place enhanced
systems and processes in upgrading its manufacturing and R&D facilities.
 This makes the company pro-actively compliant for inspection by regulators.
Global Sales
 During the Quarter, emerging markets recorded sales of USD 238 Mn, a growth of 5%, and a
contribution of 59%, to global sales. Sales in developed markets were at USD 145 Mn, a growth
of 36%.
 North America region recorded sales of USD 105 Mn (Rs. 4,912 Mn) for the Quarter, an increase
of over 70%. Growth was robust largely on account of Valacyclovir which continued to enjoy a
healthy market share of ~36%, even after loss of exclusivity and better performance by most
business segments.
 Europe recorded sales of USD 60 Mn (Rs. 2,769 Mn), a de-growth of 5% during the Quarter. In
Romania, the growth momentum continued during the Quarter, and the Company posted a
strong increase of 20% in revenue.
 India sales were at Rs. 4,930 Mn (USD 106 Mn), a growth of 18% over the corresponding
previous quarter.
 The CIS region recorded sales of USD 26 Mn (Rs. 1,209 Mn), a growth of 11%.
 Africa achieved sales of USD 35 Mn (Rs. 1,644 Mn), a de-growth of 6% versus the corresponding
previous quarter.
 The API business recorded sales of USD 23 Mn (Rs. 1,082 Mn), a de-growth of 12% vis-à-vis the
corresponding previous quarter.
 Rest of the World sales were at USD 51 Mn (Rs.2,326 Mn), a de-growth of 12% on account of
divestment of certain businesses in China and Japan last year. Growth, adjusted for divested
businesses, was 2% for the Quarter.
Due to forex volatility all growth figures in USD are calculated at constant exchange rate. All
growth rates are vs. Q3’09, unless stated otherwise.

Q4 (Oct-Dec)
Ranbaxy fy 2010 pat at $327 mn 14,968 mn,
up on strong earnings
Feb 22, 2011:
The Board of Directors of Ranbaxy Laboratories Limited (RLL) at their meeting held today, took
on record the audited results for the year ended December 31, 2010.
Consolidated Financial Performance for twelve months ended December 31, 2010
 Profit After Tax was $327 Mn (Rs.14,968 Mn), a margin of 18% to sales [FY’09: $61 Mn; Rs. 2,965
Mn]
 Profit Before Tax was $459 Mn (Rs.21,001 Mn), a margin of 25% to sales [FY’09: $209 Mn; Rs.
10,098 Mn]
 Global sales were at $1,868 Mn (Rs.85,507 Mn) [FY’09: $1,519 Mn; Rs.73,441 Mn]
The Board of Directors of the Company also recommended a dividend of Rs. 2 per share.
Commenting on the positive results for the year, Mr. Arun Sawhney, Managing Director,
Ranbaxy, said, “We have had a strong year attributable in large measure to the robust revenue
growth in our key geographies and the realizations from our First-to-File (FTF) opportunities, in
the US. On the cost side, we have gained from greater efficiencies in manufacturing.”
Key Highlights/Developments:
 Project Viraat, aimed at gaining leadership in the Indian market, has been successfully rolled
out. This is expected to show results in 2011.
 Despite continued challenges in the US market, the Company successfully launched its FTF
product, Donepezil Hydrochloride Tablets 5 mg and 10 mg with 180 days exclusivity in Q4, 2010.
 On its outstanding loans and derivatives position, the company had Mark to Market forex gains
due to the strengthening of the Indian Rupee.
 Sonke Pharmaceuticals, Ranbaxy’s Joint Venture in South Africa was awarded a R913.5 Mn
(~$130 Mn) national ARV tender. Sonke will supply the South African Government with ARVs for
the next two years.
 More than fifty (50) National level regulatory agency inspections were conducted successfully at
Ranbaxy’s various global manufacturing sites. These included regulators from US FDA, South
Africa, World Health Organization (WHO), European Union Countries/EMEA (Poland, United
Kingdom, Ireland, Romania, France, Germany), Brazil, Australia, Korea, China, Malaysia,
Singapore, the Gulf Cooperation Council (GCC), Canada, Kenya, and India.
 Ranbaxy and Daiichi Sankyo (DS) have undertaken many initiatives to realize synergies between
the two Companies. These include the launching of DS innovator products by Ranbaxy, in
markets such as India, Romania, Africa etc.
 During the year Ranbaxy’s New Drug Discovery Research (NDDR), was transferred to Daiichi
Sankyo India Pharma Pvt. Ltd (DSIN). This move will provide a sharper focus to Ranbaxy’s R&D
efforts in its core area of generics.
Global Sales
 Global sales in 2010 were $1,868 Mn (Rs. 85,507 Mn), reflecting a growth of 23% over the
previous year. In Rupee terms, sales grew by 16%. Emerging markets accounted for 50% of sales
during the year, while developed markets contributed 44%
 North America recorded sales of $660Mn (Rs.30,226 Mn) for the year, a growth of 67%.
 In USA, sales for the year were $600 Mn (Rs.27,448 Mn), a growth of 80% .
 Business in Europe continues to be competitive for generic companies. In Europe, the Company
recorded sales of $272 Mn (Rs 12,432 Mn) for the year, representing a growth of 1% in Dollar
terms.
 The India Pharma business recorded sales of Rs. 17,593 Mn ($384 Mn), a growth of 8% over the
previous year. Of this, the Global Consumer Healthcare business recorded sales of Rs. 2,485 Mn
($54 Mn), a growth of 17% for the year. All key brands in this portfolio witnessed growth
atmarket level.Revital, the company’s flagship brand, is now the 6th largest product in the
Indian Pharmaceutical market.
 The CIS region recorded sales of $101 Mn (Rs. 4,628 Mn), a growth of 18% for the year.
 Africa region recorded sales of $154 Mn (Rs.7,040 Mn), a growth of 23% for the year.
 Latin America recorded sales of $83 Mn (Rs.3,793 Mn), a growth of 17% for the year.
 API business registered sales of $114 Mn (Rs.5,238 Mn), a growth of 3% for the year.
Outlook: During 2011, the Company expects to achieve base case sales of approximately $1.87
Bn (Rs. 84 Bn).

2009
Q1 (Jan-Mar)
GLOBAL SALES AT RS. 15,584 MN
Apr 24, 2009:
The Board of Directors of Ranbaxy Laboratories Limited (Ranbaxy) at their meeting held today,
took on record the unaudited results for the quarter ended March 31, 2009 (Q1’09).
Key Financial Highlights:
 Consolidated net sales at Rs. 15,584 Mn, a de-growth of 4% (USD 313 Mn).
 Emerging market sales resist downward recessionary pressures in most key markets and deliver
sales similar to corresponding previous period at Rs. 8,376 Mn (USD 168 Mn) contributing 54%
to total sales, a de-growth of 2%.
 Sales in developed markets were Rs. 6,080 Mn (USD 122 Mn), 6% below corresponding previous
period.
 The Company registered positive Operational Earnings before Interest, Tax, Depreciation,
Amortisation and Forex (EBITDA) in-spite of adverse conditions in USA and several developed
markets.
 During 2009, the Company expects to achieve sales of approx Rs. 70 Bn (USD 1.4 Bn) and PAT of
approx Rs (8.0) Bn (USD (150) Mn).
Consolidated Financial Performance

Particulars Q1 2009 Q1 2008 Change
Sales 15,584 16,231 (4)%
Profit After Tax* (262) 858 -
*Excluding Foreign Exchange Gains/Losses and Exceptional Items
The Profit After Tax for the quarter is Rs. (7610) Mn, (USD (153) Mn).
Commenting on the results, Mr. Malvinder Mohan Singh, Chairman, CEO and MD, Ranbaxy,
said, “This quarter has been challenging for the global economy and also the pharmaceutical
industry with depreciation in several currencies and a downturn in demand and liquidity
affecting performance, across sectors. Our diversified market base has helped us deal with these
issues, mitigating their impact to a large extent. Synergies from our relationship with Daiichi
Sankyo are starting to kick in. Early signs of this were evident as we have launched Olmesartan
in India. This traction will increase as we move forward, bringing benefits to both
organizations.”
Global Region wise Sales

Region/Country Q1’09 Q1’08 Change
North America 4,040 4,351 -7%
India (including Consumer Healthcare) 3,549 3,366 5%
Europe 2,831 3,290 -14%
Asia Pacific & CIS (Excl. India) 1,995 1,978 1%
Rest of the World 2,038 2,058 -1%
Active Pharmaceutical Ingredients (API) and Others 1128 1,183 -5%
Global Sales 15,584 16,231 -4%
 The Company received four USFDA approvals and two from TGA-Australia, during the quarter.
 The Company’s largest dosage form facility at Paonta Sahib received GMP approvals from
MHRA-UK, TGA-Australia and WHO, Switzerland. The Batamandi facility at Paonta Sahib was
approved by PMDA-Japan.
 In India, the Company launched Olvance (Olmesartan), an innovative product from Daiichi
Sankyo, the first Daiichi Sankyo product to be launched by the Company.
 The Company is shortly commencing Phase-III studies on its novel anti-malaria drug, Arterolane
Maleate + Piperaquine Phosphate in India and South East Asia.
 The Company received a milestone payment from GlaxoSmithKline on successful initiation of
Phase-I human clinical trials for a Respiratory Inflammation molecule.
 Sumatriptan 100mg tablets were launched in USA under an exclusivity arrangement of 180 days.
 Ranbaxy was awarded a tender for Rs. 739 Mn for the supply of Anti Retroviral Drugs to the
National AIDS Control Organisation, India. A major part of the order was serviced during the
quarter.
 The Company received a letter from USFDA indicating that all pending and approved ANDAs
from its Paonta Sahib facility have been added to a list maintained under its “Application
Integrity Policy”.
Q2 (Apr-Jun)
Q2 FY 2009 RESULTS
Jul 24, 2009:
on record the unaudited results for the quarter ended June 30, 2009 (Q2’09).
During the year 2009, USFDA actions adversely impacted business performance in USA, the
Company’s largest market. Comparison with year 2008 should be made with this in perspective.
For the quarter ended June 30, 2009 (Q2’09)
 Consolidated net sales at USD 368 Mn (Rs. 17,953 Mn); a growth of 14% over Q1’09 and a de-
growth of 7% over Q2’08. De-growth in INR over Q2’08 was 2%.
 There was a steady progression, quarter on quarter, with business strengthening across various
parameters. Emerging markets grew at 19%, while sales in developed markets were at the same
level as the previous quarter.
 Earnings Before Interest, Depreciation, Tax & Amortisation (EBITDA) was USD 26 Mn (Rs. 1,285
Mn), reflecting margin to sales of 7.1%.
 Profit After Tax at USD 139 Mn (Rs. 6,931 Mn) [Q2’08: USD 5.5 Mn; Rs. 229 Mn].
For half year ended June 30, 2009 (H1’09)
 Consolidated net sales at USD 682 Mn (Rs. 33,537 Mn), a de-growth of 9% over the
corresponding previous period.
 Earnings Before Interest, Depreciation, Tax & Amortisation (EBITDA) was USD 9 Mn (Rs. 463
Mn).
 Profit After Tax at USD (14) Mn (Rs. (679) Mn) [H2’08: USD 39 Mn; Rs. 1,597 Mn].
Commenting on the developments during the quarter, Mr. Atul Sobti, CEO and Managing
Director, Ranbaxy, said, “Challenges have continued this quarter for the global economy and the
pharmaceutical industry, affecting liquidity and demand across geographies. Our balanced
market mix with a clear focus on emerging markets has helped us mitigate these pressures. We
have improved operationally over the last quarter despite ongoing challenges. We are now also
focused on delivering synergies through our hybrid business model with Daiichi Sankyo, to build
lasting value.”
 The Company returned to profits at the operational level during the quarter, due to a)
improvement of sales over Q1’09, (b) improvement of gross margins, and (c) close management
of costs. Excluding foreign exchange gains/losses on translation, Profit After Tax for the quarter
was USD 13 Mn (Rs. 633 Mn).
 Emerging markets exhibited strong growth over the previous quarter, despite challenging
economic and business conditions that continued to prevail across markets.
 Emerging markets delivered sales of USD 208 Mn (Rs. 10,165 Mn), a growth of 19%, over Q1’09
and a growth of 4% over Q2’08 – contributing 57% to global sales.
 Sales in developed markets were USD 125 Mn (Rs. 6,072 Mn), a de-growth of 26% over Q2’08,
primarily on account of reduced scale of business in USA, which was impacted by continuing
USFDA issues. Sales were at the same level as Q1’09.
 Overall sales in Q2’09 grew by 14% over Q1’09.
 Due to strengthening of the Indian Rupee, gains on account of Mark-to-Market (MTM)
translation were Rs. 8,067 Mn, substantially reversing MTM losses booked in Q1’09.
 Ranbaxy announced the reconstitution of the Ranbaxy executive leadership. Mr. Malvinder
Mohan Singh stepped down as Chairman, CEO and Managing Director. Dr. Tsutomu Une was
appointed as Chairman of the Board of Directors, and Mr. Atul Sobti was appointed as CEO and
Managing Director.
 The Company entered into an agreement with Ochoa Laboratories Limited, India, for the
acquisition of its brands in dermatology and pain management segment.
 The Company announced the commencement of Phase-III clinical trials for its new Anti-malaria
combination drug, Arterolane Maleate + Piperaquine Phosphate in India, Bangladesh and
Thailand.
Consolidated Results (Ranbaxy Laboratories Limited and Subsidiaries)
Quarter ended June 30, 2009
In Q2’09, Ranbaxy recorded sales of USD 368 Mn (Rs. 17,953 Mn) [Q2’08: USD 440 Mn; Rs.
18,296 Mn], reflecting a de-growth of 7%. Profit before Finance cost, Depreciation, Tax and
Amortization was USD 26 Mn (Rs. 1,285 Mn) [Q2’08: USD 78 Mn; Rs. 3,261 Mn], reflecting
an EBITDA margin of 7.1% to sales. Profit After Tax was USD 139 Mn (Rs. 6,931 Mn).
Excluding foreign exchange gains/losses on translation, Profit After Tax was USD 13 Mn (Rs.
633 Mn).
Half year ended June 30, 2009
In H1’09, the Company recorded sales of USD 682 Mn (Rs. 33,537 Mn), a de-growth of 9%.
Profit before Finance cost, Depreciation, Tax and Amortization was USD 9 Mn (Rs. 463 Mn)
[H2’08: USD 143 Mn; Rs. 5,813 Mn], reflecting an EBITDA margin of 1.4% to sales. Profit
After Tax was USD (14) Mn (Rs. (679) Mn) [H2’08: USD 39 Mn; Rs. 1,597 Mn]. Excluding
foreign exchange gains/losses on translation and exceptional items, Profit After Tax was USD
(5) Mn (Rs. (246) Mn).
Global Sales
In Q2’09, consolidated sales were USD 368 Mn (Rs. 17,953 Mn), up 14% over Q1’09, and down
7% over Q2’08. Emerging markets grew by 4%, and accounted for 57% of sales. Performance in
emerging markets was led by India, Asia Pacific and Africa. The Active Pharmaceutical
Ingredients (API) business recorded a growth of 11%, and accounted for 10% of sales.
International dosage forms sales were at USD 241 Mn (Rs. 11,721 Mn), contributing 65% to
sales.
In H1’09, global sales were USD 682 Mn (Rs. 33,537 Mn), a de-growth of 9%. Emerging market
sales were almost at the same level of H1’08, whereas sales in developed markets were down by
22% over H1’08, primarily on account of reduced scale of business in USA which was impacted
by continuing USFDA issues. The API business recorded 5% de-growth.
North America
During the quarter, the region recorded sales of USD 79 Mn (Rs. 3,854 Mn), a de-growth of
35%. For H1’09, sales were at USD 160 Mn (Rs. 7,894 Mn), 29% lower than the previous year.
USA
Due to ongoing USFDA issues, sales during the quarter de-grew by 41% to USD 62 Mn (Rs.
3,034 Mn). For H1’09, sales were at USD 131 Mn (Rs. 6,435 Mn), 36% lower than H1’08.
Canada
Canada continued to exhibit robust growth. Sales grew 10% to USD 17 Mn (Rs. 820 Mn) during
the quarter. In H1’09, sales were at USD 30 Mn (Rs. 1,459 Mn), growth of 31% over previous
year.
On IMS MAT May’09 basis, the Company’s market share improved from 3% to 3.8%, and sales
growth was 40% against market growth rate of 12%. Two new products viz., Ramipril and
Ondansetron, were launched during the quarter. Ranbaxy also maintained its 7th rank in the
Canadian pharmaceutical market.
Europe
The region (including Romania) recorded sales of USD 64 Mn (Rs. 3,139 Mn), a de-growth of
12%. Growth over Q1’09 was 8%. For H1’09, sales were at USD 121 Mn (Rs. 5,970 Mn), 13%
lower than previous year. The Company continued to optimise operating expenses by realigning
its business model with a focus on improving the bottomline in the region.
Romania recorded sales of USD 21 Mn (Rs. 1,007 Mn) in Q2’09, a de-growth of 11%. For
H1’09 sales were at USD 40 Mn (Rs. 1,952 Mn), de-growth of 7%. The quarter saw continuing
difficult market conditions owing to pricing regulation changes, and tight liquidity in the trade
channels resulting in de-stocking. Market sentiment and primary sales were adversely impacted
on account of these problems. Local currency depreciated 24% versus the same preriod last year,
further affecting reported sales. However in Q2’09, the Company’s secondary sales were
significantly higher than its primary sales, reflecting continuing momentum at market level. The
Company continues to lead the generics and OTC segments with No. 1 ranking with 11.9%
market share (No. 7 in the total market).
In Europe other than Romania, sales grew in most countries over Q1’09, especially in the larger
markets of UK, Germany and France. In UK, the Company gained market share in several
products supported by commencement of NHS tender supplies, and day-1 launch of
Pantoprazole. In Germany, the Company sucessfully participated in two health insurance fund
tenders and launched Pantoprazole on day-1. Supplies commenced for the products awarded in
the AOK tender earlier this year. In France, the Company’s market share increased to 2.4% in
the quarter. Pantoprazole was launched in the market on day-1.In Poland market sales grew at a
robust 26%. In Finland, market share of the Company’s Atorvastatin increased to 15%, despite
aggressive price cuts by the originator.
Asia, Middle East and CIS
During the quarter the region recorded sales of USD 127 Mn (Rs. 6,169 Mn), a growth of 6%.
For H1’09, sales were at USD 235 Mn (Rs. 11,569 Mn), 3% above the previous year. Several
key markets including India, Malaysia, China and Australia & New Zealand (ANZ) registered
growth during the quarter. The economic downturn being experienced in several countries
especially CIS, adversely impacted demand and liquidity resulting in lower sales, already under
pressure due to steep currency depreciation.
India (excluding Global Consumer Healthcare)
Sales for the quarter were Rs. 3,962 (USD 81 Mn), a healthy growth of 21%. For H1’09, sales
were Rs. 7,220 (USD 147 Mn), 15% above previous year. During the quarter, the Company
made 28 new product introductions in India, of which four were “First-to-Launch” products and
six were products based on Novel Drug Delivery Systems. Ranbaxy maintained its leadership
position in the Anti-infectives and Statins segments with 10.5% and 18.8% market share
respectively. The Company retained its 2nd rank in the Indian formulations market with a market
share of 4.9% (IMS MAT May’09). The Company entered into an agreement with Ochoa
Laboratories Limited, India, for the acquisition of its brands in dermatology and pain
management segment.
CIS: Russia & Ukraine
Sales in CIS region were USD 15 Mn (Rs. 713 Mn) during the quarter, a de-growth of 30%. For
H1’09, sales were USD 32 Mn (Rs. 1,578 Mn), 18% lower than previous year. De-growth was
primarily on account of weak demand, de-stocking at various levels, and prudent credit
management by the Company given tight liquidity conditions in the market. Currency
depreciation further impacted the reported sales.
Asia Pacific
The region recorded sales of USD 24 Mn (Rs. 1,154 Mn) during the quarter, a growth of 3%. For
H1’09, sales were at USD 46 Mn (Rs. 2,246 Mn), 4% lower than in the previous year. Several
key markets including Malaysia, China and Australia+New Zealand (ANZ) grew well during the
quarter.
Africa
Sales for the quarter were USD 35 Mn (Rs. 1,701 Mn), exhibiting a robust growth of 23%. For
H1’09, sales were at USD 61 Mn (Rs. 3,016 Mn), 15% above previous year. Sales in South
Africa grew at a buoyant rate of 72%, to touch USD 20 Mn (Rs. 969 Mn) during the quarter;
while in H1’09, sales grew by 69%. In South Africa, market share during the quarter improved to
4% compared with 3.7% in Q1’09, while the Company maintained its 5th rank in the market.
Sales in Nigeria were USD 6 Mn (Rs. 274 Mn), a marginal drop of 2%, despite non-repetition of
a tender order. H1’09 sales in Nigeria grew at 4% to touch USD 11 Mn (Rs. 519 Mn).
Latin America
During the quarter, the region recorded sales of USD 17 Mn (Rs. 822 Mn), a de-growth of 3%. In
H1’09, sales were USD 28 Mn (Rs. 1,398 Mn), a de-growth of 5%. Brazil recorded sales of USD
11 Mn (Rs. 553 Mn), 5% lower, primarily due to non-repetition of a tender business. Excluding
tender business, sales were 11% higher in the quarter. Ranbaxy grew ahead of the market at 24%
(IMS MAT May’09) and continued to be the 6th largest generic company in Brazil. Mexico
recorded a healthy growth of 17% during the quarter.
In the rest of Latin America, sales were USD 4 Mn (Rs. 179 Mn), a de-growth of 4%.
Global Consumer Healthcare (GCHC)
Sales during the quarter grew 14% to Rs. 549 Mn (USD 11 Mn). In H1’09, sales were Rs. 840
Mn (USD 17 Mn). All key brands registered strong sales growth at market level. Revital and
Volini, two of the company’s leading brands continued to strengthen their positions. The Market
share for Revital increased to 87.1% while that for Volini increased to 32.5% (ORG-SSA MAT
Mar’09).
Research & Development
The Company announced the commencement of Phase-III clinical trials for its new Anti-malaria
combination drug, Arterolane Maleate + Piperaquine Phosphate in India, Bangladesh and
Thailand.
Alliances with GlaxoSmithKline (GSK) and Merck in the area of New Drug Discovery Research
are progressing well. A milestone payment for a product in Phase-I clinical trials was received
from GSK.
The Company made 80 filings worldwide and received 55 approvals. This takes the total number
of filings to 172 filings with 133 approvals during the year.
Ranbaxy Laboratories Limited, headquartered in India, is an integrated, research based,

international pharmaceutical company producing a wide range of quality, affordable generic
medicines, trusted by healthcare professionals and patients across geographies. Ranbaxy’s
continued focus on R&D has resulted in several approvals in developed markets and significant
progress in New Drug Discovery Research. The Company’s foray into Novel Drug Delivery
Systems has led to proprietary “platform technologies”, resulting in a number of products under
development. The Company is serving its customers in over 125 countries and has an expanding
international portfolio of affiliates, joint ventures and alliances, ground operations in 49 countries
and manufacturing operations in 11 countries.
Statements contained in this press release refer to Ranbaxy’s estimated or anticipated future
results or other non-historical facts statements reflecting Ranbaxy’s current perspective of
existing trends and information as of the date of this release. These forward-looking statements
contained in this press release speak only as of the date the statement was made. Such statements
involve known and unknown risks, uncertainties and other factors that may cause actual results
to differ materially. By their nature, these expectations and projections are only estimates and
could be materially different from actual results in the future. Ranbaxy undertakes no obligation
(nor does it intend) to publicly update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, except to the extent required under
applicable law.
Due to Forex volatility all growth figures in USD are calculated at constant exchange rate. All
growth rates are vs. Q2’08, unless stated otherwise
Ramesh L. Adige
President – Corporate Affairs and Global Corporate Communications
Ranbaxy Laboratories Ltd.
Plot 90, Sector 32, Gurgaon
Haryana122001, India
Tel: +91-124-4135000
e-mail: ramesh.adige@ranbaxy.com or
Raghu Kochar
Director – Corporate Communications
Ranbaxy Laboratories Ltd.
Tel: +91-124-4135141
Mobile: 9811617256
e-mail: raghu.kochar@ranbaxy.com or
Krishnan Ramalingam
Tel: +91-124-4135143
Mobile: 9810042540
e-mail: krishnan.ramalingam@ranbaxy.com
Q3 (Jul-Sep)
RANBAXY RECORDS CONSISTENT
IMPROVEMENT IN OPERATING
PERFORMANCE
Oct 26, 2009:
on record the unaudited results for the quarter ended September 30, 2009.
Consolidated Financial Performance for the quarter ended September 30, 2009 (Q3’09)
 Consolidated net sales were USD 356 Mn (Rs. 17,205 Mn), a de-growth of 18% over Q3’08.
 Earnings before Interest, Tax, Depreciation & Amortization (EBITDA) was USD 45 Mn (Rs. 2,221
Mn), a margin of 13% to sales.
 Profit Before Tax was USD 33 Mn (Rs. 1,601 Mn).
 Profit After Tax was USD 24 Mn (Rs. 1,166 Mn).
Consolidated Financial Performance for Nine months ended September 30, 2009
 Consolidated net sales were USD 1,037 Mn (Rs. 50,742 Mn).

 Earnings before Interest, Depreciation, Tax & Amortization (EBITDA) was USD 32 Mn (Rs. 1,563
Mn).
 Profit Before Tax was USD 15 Mn (Rs. 709 Mn).
 Profit After Tax was USD 10 Mn (Rs. 487 Mn).
Director, Ranbaxy, said, “We are pleased with the consistent quarter-on-quarter improvement in
financial performance this year, in spite of continuing challenges in some key markets. Revenue
growth in some strategic geographical markets, and a sharp focus on cost efficiency have been
the underlying themes this quarter. With good achievements on these fronts, we are confident
that we are on the path to recovery. We are also seeing greater traction in realizing synergies
with Daiichi Sankyo, in building a stronger future for Ranbaxy.”
 Trend in improvement of financial performance was aided by continued cost containment

measures undertaken by the Company. The Company returned to double-digit EBITDA margin,
for the first time since Q2’08.
 Sales in developed markets were at USD 109 Mn (Rs. 5,257 Mn), lower by 30% over Q3’08,
primarily on account of lower sales in USA.
 Sales in emerging markets were at USD 220 Mn (Rs. 10,678 Mn), at similar levels as Q3’08,
accounted for 62% of revenues.
 The Company entered into an agreement with Validus Pharmaceuticals, to market and
distribute an authorized generic version of Rocaltrol® in USA.
 In India, Ranbaxy launched a protein supplement, ‘Revitalite’, marking its entry into the lucrative
protein supplements market.
 Extracting synergies from the hybrid business model of Ranbaxy and Daiichi Sankyo, the
Company launched Evista® in Romania, an osteoporosis drug from Daiichi Sankyo. In Mexico,
the Company has set-up a new division to specifically market Daiichi Sankyo products.
 The Company entered into a strategic in-licensing agreement with Medy-Tox Inc., South Korea,
to import and market its product, Neuronox (purified Botulinum Toxin Type-A), in India.
 Ranbaxy received the Best Exporter Award, from the Pharmaceuticals Export Promotion Council
(Pharmexcil), India, for its consistent performance in pharmaceutical exports over the years.
 The Company made its first USFDA filing from its new facility located at its SEZ in Mohali.
 The Company continues to cooperate with USFDA towards early resolution of observations
made by that regulator.
 Due to marginal movement of the US Dollar during the quarter, there was no significant forex
impact on the Company’s results for the quarter.
Quarter ended September 30, 2009
In Q3’09, consolidated sales were at USD 356 Mn (Rs. 17,205 Mn) [Q3’08: USD 431 Mn;
Rs.18,884 Mn], a de-growth of 18%. Earnings before Interest, Tax, Depreciation and
Amortization (EBITDA) was USD 45 Mn (Rs. 2,221 Mn) [Q3’08: USD (27) Mn; Rs. (1,001)
Mn], reflecting an EBITDA margin of 13%. Profit after tax was at USD 24 Mn (Rs. 1,166 Mn)
[Q3’08: USD (96) Mn (Rs. (3,945) Mn].
Global Sales
Revenues in emerging markets were USD 220 Mn, at similar levels as Q3’08, and contributed
62% to consolidated sales. Developed markets de-grew by 30%, primarily on account of loss of
sales in USA because of the Import Alert and Application Integrity Policy imposed by the
USFDA.
North America: The region recorded sales of USD 61 Mn (Rs. 2,955 Mn) during the quarter, a
de-growth of 43%.
In USA, sales during the quarter were USD 44 Mn (Rs. 2,138 Mn), a de-growth of 53% over
Q3’08. This was primarily on account of ongoing USFDA issues and the discontinuation of
Omeprazole authorized generic. The Company received final approval for Glycopyrrolate and
Sumatriptan tablets 25/50mg. The Company also launched the authorized generic for Validus’
Rocaltrol®.
Canada continued to demonstrate robust growth. Sales grew by 14% to USD 16.9 Mn (Rs. 817
Mn) during the quarter. The Company launched Ropinirole and received approval for
Amlodipine. On MAT Aug’09 basis, the Company commands 19% share of the represented
market and is ranked 7th in the generic segment.
 Europe (including Romania) recorded sales of USD 67 Mn (Rs. 3,265 Mn), a de-growth of 10%.
Excluding Romania, the de-growth was 2%. However, compared with the trailing quarter
(Q2’09), sales grew 5% despite an intensely competitive business environment in Western
Europe.
 In Romania, the Company maintained its Number 1 ranking in the generics+OTC segment with a
market share of 12.9% (MAT Aug’09). During the period, Evista®, an osteoporosis drug from
Daiichi Sankyo, was introduced by Ranbaxy in the Romanian market. However, sales for the
quarter at USD 17 Mn (Rs. 838 Mn) were down 25% due to disruption in trade arising out of (i)
new pricing regulations that affected the generics industry, and (ii) severe liquidity crunch in the
trade channels. Ranbaxy continued its prudent credit management policy to minimize the
impact of the liquidity crunch.
 Asia, Middle East and CIS region recorded sales of USD 131 Mn (Rs. 6,346 Mn) during the
quarter, almost at similar levels as Q3’08. India, Malaysia, and Middle East registered growth
during the quarter. Liquidity crunch and softer demand being experienced in several countries
especially CIS, put downward pressure sales. The region is already under pressure due to steep
currency depreciation.
 Sales in India (excluding Consumer Healthcare business) grew by 2% to Rs. 3,617 Mn (USD 74.7
Mn) during the quarter and 11% on YTD Sep’09 basis. Overall, the Company maintained its 2nd
rank in the Indian Pharmaceutical market with a market share of 4.9% (MAT Aug’09). Branded
business in India grew 16.2% vs. market growth of 14.6% on QTD Aug’09 basis.
 The CIS region recorded sales of USD 23 Mn (Rs. 1,119 Mn) during the quarter, lower by 14%.
Russia maintained similar level of sales with 1% growth. Ukraine recorded a 39% de-growth.
Sales in the region were under pressure primarily on account of channel de-stocking, credit
crunch, government policies on trade margins, price revisions, and seasonal slackness.
 The Asia Pacific region recorded sales of USD 26 Mn (Rs. 1,275 Mn) during the quarter, a growth
of 7%. A similar positive trend was visible in multiple markets.
 Sales in the Middle East grew by 18% during the quarter.
 Sales in Africa during the quarter grew by 16% to USD 36 Mn (Rs. 1,758 Mn).
 South Africa continued the positive trend exhibiting strong growth: sales touched USD 22 Mn
(Rs. 1,082 Mn), a growth of 34%. On YTD Sep’09 basis, sales grew by 55%. In South Africa,
Ranbaxy now commands an 8.7% market share in the represented market (MAT Aug’09) and is
ranked 5th in the generic segment.
 In Nigeria, despite tight liquidity, forex controls and high interest rates, the Company managed
to garner a similar level of sales as Q3’08 at USD 5.6 Mn (Rs. 270 Mn).
 The Latin America region recorded sales of USD 21 Mn (Rs. 1,038 Mn) during the quarter, similar
to Q3’08.
 Sales in Brazil at USD 14 Mn (Rs. 679 Mn), were at the same level as Q3’08. Excluding tender
business, sales grew 50%. At market level, growth was 23% (MAT Aug’09). In Brazil, the
Company commands a 4% market share (MAT Aug’09) and is the 6th largest generic player.
 In Mexico, the Company has set-up a new marketing division to focus on Daiichi Sankyo’s
products. This is the first time in Latin America that Ranbaxy and Daiichi Sankyo are leveraging
mutual synergies generated through the Hybrid Business Model. Sales were up by 38% in the
quarter.
 The Global Consumer Healthcare business recorded sales of USD 12 Mn (Rs. 563 Mn) during the
quarter, a growth of 24%. The Company commands 10.6% share (MAT Aug’09) of the
represented market in India and was ranked 2nd in the corresponding segment during the same
period. All key brands witnessed strong sales growth. Flagship brands Revital and Volini further
increased their market share to 88.1% and 34% respectively. A strong brand, Revital is ranked
13th in the Indian Pharmaceutical market (MAT Aug’09).
Q4 (Oct-Dec)
RANBAXY REPEATS STRONG
OPERATING PERFORMANCE
Feb 25, 2010:
FY 2009 PROFIT BEFORE TAX OVER RS. 1000 CRORES; GLOBAL SALES AT RS. 7344
CRORES
Gurgaon, India, February 25, 2010: The Board of Directors of Ranbaxy Laboratories Limited
(RLL) at their meeting held today, took on record the audited results for the quarter and year
ended December 31, 2009.
Consolidated Financial Performance for twelve months ended December 31, 2009
 Global sales were USD 1519 Mn (Rs. 73,441 Mn) [FY’08: USD 1,667 Mn; Rs.72,555 Mn]
 Profit Before Tax was USD 209 Mn (Rs. 10,098 Mn), a margin of 14% to sales [FY’08: USD (320)
Mn; Rs. (15,000) Mn]
 Profit After Tax was USD 64 Mn (Rs. 3,107 Mn), a margin of 4% to sales [FY’08: USD (198) Mn;
Rs. (9,349) Mn]
Consolidated Financial Performance for the quarter ended December 31, 2009 (Q4’09)
 Global sales were USD 482 Mn (Rs. 22,699 Mn), a growth of 25% over Q4’08 [Q4’08: USD 387
Mn; Rs.19,096 Mn]
 Profit Before Tax was USD 194 Mn (Rs. 9,389 Mn) [Q4’08: USD (242) Mn; Rs.(11,464) Mn]
 Profit After Tax was USD 54 Mn (Rs. 2,620 Mn) [Q4’08: USD (142) Mn; Rs. (6,798) Mn]
The effective tax rate is higher during the quarter, and the year, due to accounting treatment of
taxes on unrealised profits, and partial impairment of deferred tax assets in accordance with
Accounting Standard 22 of Indian GAAP. Such tax adjustments are non-cash in nature, and are
expected to be normalised over the coming quarters.
Director, Ranbaxy, said, “We realized various opportunities, while continuing to manage key
challenges. Good revenue growth in most key geographies, launch of two First-to-File (FTFs) in
USA, and continued cost containment, has ensured consistent quarter-on-quarter improvement in
performance. The Company ended the year with strong business and financial performance, and
over achieved on the guidance given for the year.”
 Profitability improved in Q4’09 over previous year, as well as trailing quarter.

 Despite continued challenges in the US market, the Company successfully launched two FTF
products with exclusivity viz., Valacyclovir and Oxcarbazepine Suspension during Q4’09, and
Sumatriptan earlier in the year.
 Due to strengthening of the Indian Rupee, gains on account of Mark-to-Market (MTM)
translation losses booked earlier in the year were substantially reversed.
 The Company rolled out project “Viraat”, aimed at strengthening its leadership position in the
market.
 The Company’s facility at Paonta Sahib received GMP approvals from MHRA-UK, TGA-Australia
and WHO, Switzerland. The Batamandi facility at Paonta Sahib was approved by PMDA-Japan.
 The Company announced the commencement of Phase-III clinical trials for its new Anti-malaria
combination drug, Arterolane Maleate + Piperaquine Phosphate, in India and Thailand.
 Realising synergies between Ranbaxy and Daiichi Sankyo (DS), the Company launched DS
research products Olmesartan in India, and Raloxifene in Romania. The Company has set up a
new division to market DS products in Mexico. Ranbaxy will also launch Olmesartan in six
African countries
 The Company acquired brands in dermatology and pain management segment from Ochoa
Laboratories Limited, India.
 Rationalising its business model in select markets, the Company terminated its alliance with
Nippon Chemiphar Co., Japan, and divested equity interest in Ranbaxy (Guangzhou China)
Limited. The Company continues to pursue business through other avenues in these markets.
 The Company made its first USFDA filing from its new facility located at its SEZ in Mohali.
 In Q4’09, the Company received a Warning Letter from the USFDA for its facility at Gloversville,
NY, USA. The Company has responded to the observations of the regulator.
 The Company received a letter from USFDA indicating that all ANDAs from its Paonta Sahib
facility are now covered under its “Application Integrity Policy”. The Company continues to
cooperate with the USFDA and the Department of Justice, USA, towards early resolution of all
issues.
 During the quarter, the Company made 128 filings and received 65 approvals for dosage forms.
For APIs, the Company made 44 filings and received 40 approvals. This takes the full year filings
of dosage forms to 237, with 245 approvals, and 179 filings for APIs with 170 approvals.
Global Sales
 Global sales in 2009 were USD 1,519 Mn (Rs. 73,441 Mn), de-growth of 9% over previous year.
In Rupee terms, sales grew moderately by 1%. Sales during the Quarter recorded growth of 25%
at USD 482 Mn (Rs. 22,699 Mn). Emerging markets accounted for 54% of sales during the year,
while developed markets contributed 39%.
 North America: The region recorded sales of USD 397 Mn (Rs. 19,179 Mn) for the year, a de-
growth of 9%. For the quarter, sales grew by 68% to USD 175 Mn (Rs. 8,330 Mn).
o In USA, sales for the year were USD 334 Mn (Rs. 16,130 Mn), a de-growth of 14%.
However, sales during the quarter grew by 78% to USD 158 Mn (Rs. 7,557 Mn).
 Business in Europe remains competitive for generic companies. In Europe, the Company
recorded sales of USD 269 Mn (Rs. 13,001 Mn) for the year, a de-growth of 9%. During the
quarter, sales grew by 2% to USD 80 Mn (Rs. 3,767 Mn).
 India Pharma business recorded sales of Rs. 14,171 Mn, a growth of 9% for the year. During the
quarter, sales were Rs. 3,334 Mn, a growth of 6%. Global Consumer Healthcare business
recorded sales of Rs. 2,129 Mn, a growth of 12% for the year. During the quarter, sales grew
26% to Rs. 726 Mn. All key brands witnessed robust growth at market level. Revital, the flagship
brand, is now the 7th largest product in the Indian Pharmaceutical market (IMS MAT Nov’09).
The Company is currently ranked 2nd in the Indian pharmaceutical market with 4.98%
market share (IMS, Oct-Dec’09).
 The Asia Pacific region recorded sales of USD 100 Mn (Rs. 4,829 Mn), a growth of 3% for the
year. During the quarter, sales grew 11% to USD 28 Mn (Rs. 1,308 Mn).
 The CIS region recorded sales of USD 86 Mn (Rs. 4,156 Mn), a de-growth of 10% for the year.
During the quarter, sales grew 8% to USD 31 Mn (Rs. 1,458 Mn).
 Africa region recorded sales of USD 125 Mn (Rs. 6,055 Mn), a growth of 4% for the year. During
the quarter, sales were USD 28 Mn (Rs. 1,282), a de-growth of 25%.
 Latin America recorded sales of USD 71 Mn (Rs. 3,433 Mn), a growth of 2% for the year. During
the quarter, sales were USD 21 Mn (Rs. 997 Mn), a growth of 24%.
 API business registered sales of USD 112 Mn (Rs. 5,416 Mn), a de-growth of 2% during the year.
In Q4’09 sales were USD 28 Mn (Rs. 1,301 Mn).
Outlook
During 2010, the Company expects to achieve sales of approximately Rs. 78 Bn (USD 1.7 Bn),
as against Rs. 73.4 Bn in 2009, a growth of 6%; and PAT of approx Rs. 4.6 Bn (USD 100 Mn),
as against Rs. 3.1 Bn in 2009, a growth of 48%. This estimate is based on the assumptions of
exchange rate of USD:INR of 46.00.

Ramesh L. Adige
Raghu Kochar
Mobile: 9811617256
Krishnan Ramalingam
General Manager-Corporate Communications
Mobile: 9810042540
2008
Q1 (Jan-Mar)
GLOBAL SALES AT USD 409 MN (RS
16,231 MN), + 15%
Apr 22, 2008:
on record the unaudited results for the quarter ended March 31, 2008.
Key Highlights:
 Consolidated sales at USD 409 Mn, (Rs 16,231 Mn), records a growth of 15%.
 Profit after Tax was at USD 39 Mn (Rs 1,530 Mn), +19%.
 Earnings before Interest, Depreciation, Tax & Amortization (EBIDTA) reflects a margin to sales of
17% ( 2007 : 13.4%).
Consolidated Financial Performance*

Q1 2008 Q1 2007 Change
Particulars
(USD Mn) (USD Mn) (%)
Sales 409 355 15
Earnings before Interest, Depreciation, Tax & Amortization (EBIDTA) 69 48 46
EBIDTA margins (% to Sales) 17% 13.40% -
Profit After Tax (PAT) 39 32 19
Q1 2008 Q1 2007 Change

Particulars
(Rs Mn) (Rs Mn) (%)
Sales 16,231 15,644 4
Earnings before Interest, Depreciation, Tax & Amortization (EBIDTA) 2,756 2,093 32
Profit After Tax (PAT) 1,530 1,427 7
* Excludes expenditure on New Drug Discovery Research (NDDR) of Rs 205 Mn for the quarter
on account of the proposed de-merger effective January1, 2008, consequent to receiving the
requisite approvals.
Commenting on the business results, Mr. Malvinder Mohan Singh, CEO and MD, Ranbaxy, said,
“”Following a good start to the year, we expect business to ramp up even further as we move
through the successive quarters . In this regard, our market and product balancing strategy will
play to our advantage. Separately, the enhanced visibility of earnings from our FTF pipeline and
a highly progressive alliance and collaboration strategy will contribute to the definitive build up
in earnings and profitability over the many coming years.”
Global Regionwise Sales

Q1 2008 Q1 2007 Change
Region / Country
(USD Mn) (USD Mn) (%)
North America 110 91 20
India 85 72 17
Europe 83 93 -11
Asia Pacific & CIS(Excl. India) 56 43 30
Rest of World 45 33 41
Active Pharmaceutical Ingredients (API) 30 23 27
Global Sales 409 355 15
 Developed markets led by North America, record 17% growth in sales, contribute 40% to global
sales. Emerging Markets comprise 53% to global sales and grew 12%.
 North America sales at USD 110 Mn, +20%. Sotret, the Company’s leading brand in the
dermatology segment, consolidates market leadership position with 53% market share.
 Asia Pacific (incl. India) & CIS records combined sales of USD 140 Mn, +22%, led by buoyant
growth in key countries such as India, CIS, Malaysia, Japan & the Middle East.
 The Company settled all matters relating to possible patent litigation with GlaxoSmithKline
relating to Sumatriptan Succinate Tablets, the generic version of GlaxoSmithKline’s Imitrex
Tablets. The molecule has a market size of approximately USD 1 Bn at innovator prices (Source
:IMS).
 The Company entered into a series of agreements with AstraZeneca for 3 molecules .i.e.
Esomeprazole capsules, Felodopine ER capsules and Omeprazole 40 mg tablets. Two of these
agreements concern Esomeprazole magnesium capsules (Nexium), the second largest selling
drug in the United States with sales of USD 5.5 Bn (Source : IMS). The Company has also been
designated as the U.S. distributor for the authorized generic versions of Felodipine ER Capsules
and Omeprazole 40mg Tablets.
 The Company announced the scheme of the New Drug Discovery Research (NDDR) de-merger
wherein shareholders in Ranbaxy will be entitled to receive one equity share of Re.1 each of
Ranbaxy Life Science Research Limited (RLSRL) for every four equity shares of Rs.5 each held in
Ranbaxy. The Appointed Date for the purpose of the demerger has been fixed as 1st January
2008.
 The Company received approval for Amlodopine Tablets 2.5mg & 5mg from Ministry of Health
and Labour Welfare (MHLW-Japan) for marketing the generic version of the product. This is the
first independent product approval received by Ranbaxy in Japan and has the unique distinction
of being the first product developed by any foreign generic pharmaceutical company outside
Japan. Amlodipine tablets has a market size of approximately USD 2 Billion (Jan-Dec’ 2007 – IMS
– Japan).
Quarter ended March 31, 2008 (Q1)
For Q1, the Company achieved Consolidated Sales of Rs. 16,231 Mn [USD 409 Mn] (2007: Rs.
15,644 Mn, USD 355 Mn), a growth of 4% in rupee terms. Profit before interest, depreciation,
tax and amortization was Rs. 2,552 Mn [USD 64 Mn] (2007: Rs. 1,908 Mn, USD 43 Mn), an
increase of 34%. This represents a margin of 15.7% to sales compared to 12.2% to sales in the
corresponding previous period. Profit before tax was at Rs 1,729 Mn [USD 44 Mn] (2007: Rs
1,642 Mn, USD 37 Mn), an increase of 5%. Profit after Tax without considering foreign
exchange gains/losses on translation & extra-ordinary items was at Rs 1,196 Mn (USD 30 Mn),
up15 %. Reported Profit after tax was at Rs.1,368 Mn [USD 34 Mn], up 6% (2007: Rs. 1,287
Mn, USD 29 Mn).
Earnings per share on a fully diluted basis were Rs. 3.66 (2007: Rs. 2.64).
Global Sales
For Q1, consolidated sales were at USD 409 Mn, an increase of 15%. The Company’s market
mix remained steady with the emerging markets contributing 53% to global sales and recording a
growth of 12%. The developed markets contributed 40% to global sales and recorded a growth of
17%. North America was the key contributor to developed markets whereas growth in the
emerging markets was led by India, CIS & other countries in the Asia Pacific region. The API
business recorded sales of USD 30 Mn, +27%.
North America
North America, comprising USA & Canada, recorded sales of USD 110 Mn, +20%.
USA recorded sales of USD 99 Mn for the Quarter, a growth of 16% over the previous year.
New product introductions by the Company and the continuing volume growth led to an overall
improved performance across the generics, branded generics and OTC segments of the business.
5 new products were introduced in the quarter: 4 generic products and 1 OTC. In the branded
generics segment, the Company’s flagship brand Sotret, further consolidated its market share
position and remained the leader in its respective product category with 53% market share. In the
30mg dosage strength, Sotret currently has 68% market share. With the increase in the sales
force to support the existing and recently acquired dermatology brands from BMS, the
Company’s branded business is well poised to further enhance its growth momentum.
The overall market share of Ranbaxy in the US generic market (in the molecules Ranbaxy is
present) was ~11.3% for QTD Feb ’08, as against 10.3% in the trailing quarter.
The Company continues to strengthen its US product pipeline and presently has 98 ANDA’s
pending approval with the US FDA. These products, at an innovator market size, are valued at
USD 55 Bn and comprise a well-balanced mix of plain vanilla generics, niche & potential First
to File products. The Company believes that it has a First to File status on approximately 19 Para
IV ANDA filings, with an innovator market size in excess of USD 27 Bn.
The Company entered into 2 key settlements for its First –to-File (FTF) products during the
quarter.
Last week, Ranbaxy entered into a multi-pronged settlement with AstraZeneca, concerning
Esomeprazole magnesium capsules (Innovator brand- Nexium). The agreement will allow
Ranbaxy to launch the generic version of Nexium under a license from AstraZeneca, on May 27,
2014. Ranbaxy will be the only company to market this product with a 180 days exclusivity, in
the US market.
Separately, Ranbaxy and AstraZeneca have also entered into an agreement under which Ranbaxy
will formulate a significant portion of AstraZeneca’s U.S. supply of Nexium from May 2010,
including provisions for the manufacture of Esomeprazole magnesium, the Active
Pharmaceutical Ingredient (API) from May 2009.
Under the third component of the settlement, Ranbaxy has been designated as the U.S.
distributor for the authorized generic versions of Felodipine Capsules and Omeprazole 40mg
Tablets.
In January this year, Ranbaxy settled all matters relating to possible patent litigation with
GlaxoSmithKline relating to Sumatriptan Succinate Tablets, the generic version of
GlaxoSmithKline’s Imitrex® Tablets. The settlement will allow the Company to distribute a
generic version of Sumatriptan Succinate Tablets (in the 25 mg,50 mg and 100 mg strengths) in
the US market at the end of this year.
During the quarter, Ranbaxy received approval from the U.S. FDA to manufacture and market
Cefuroxime Axetil Oral Suspension USP, 125 mg/5mL and 250 mg/5mL. The Company would
be the sole generic supplier in the market place and is the only one to offer both the suspension
and tablet dosage forms of the molecule. Total annual market sales for the product stood at USD
29 Mn. The Company was also granted a tentative approval from the U.S. FDA for
Esomeprazole Magnesium Delayed-Release Capsules, 20 mg (base) and 40 mg (base), the
generic version of Nexium (Astra Zeneca).
Canada continued its robust growth momentum recording sales of USD 10 Mn, a growth of 80%
in the quarter. The Company currently ranks 9th in the generics market and has performed
exceedingly well since it began operation in 2005. The key products that contributed to sales
during the quarter were Zoplicone, Citalporam & Ciprofloxacin. Rabiprazole ultra generic was
also launched during the quarter.
Europe
In Q1 2008, Europe (including Romania) registered sales of USD 83 Mn, 11% lower than the
corresponding previous period. The Company’s key markets in Western Europe, i.e. Germany,
UK & France recorded sales of USD 34 Mn in the quarter, at similar levels to those in the
corresponding previous period. Sales in Germany for the quarter were at USD 11 Mn, an
increase of 9% over the corresponding previous period. UK & France recorded sales of USD 11
Mn & 12 Mn, a decline of 7% & 6% respectively over the corresponding previous period. In UK,
the Company launched 2 new products in March .i.e. Glimeperide & 3 additional strengths of
Gabapentin that are expected to contribute positively to sales in the coming quarters. The French
operations after having undergone a re-structuring in 2007, coupled with 20 new product
introductions over the last few quarters, is expected to register a progressively improving
performance.
Romania, recorded sales of USD 26 Mn for the quarter, a decline of 29% over the corresponding
previous period. Sales were impacted as a result of the uncertainty in the market place due to the
proposed healthcare reforms and the re-introduction of branded prescribing, which has been
introduced from April 1, 2008. The Company’s existing brand recognition and brand building
capabilities will augur well as a result of the re-introduction of branded prescribing in the market.
In Rest of Europe, sales for the quarter were at USD 23 Mn, a growth of 7% over the
corresponding previous period. Italy & Spain, the recently entered into newer markets recorded
combined sales of USD 7 Mn, + 12%. Italy witnessed 5 new product launches and was the
fastest growing generic Company in the marketplace.
Asia Pacific & CIS
The region recorded sales of USD 140 Mn for the Quarter, 22% better than previous year. All
countries recorded a good growth in the region led by India, CIS, Middle East, China, Japan &
Malaysia.
India
The sales for the quarter were at USD 75 Mn, a 16% increase over the corresponding previous
period. During the Quarter, the Company launched 12 new products across several therapies like
antibiotics, cardiovascular, asthma, urologicals, ortho, gastrointestinal & anti-cancer. Of them,
Coltazole-OD (Cilastozole), Contiflo ICON (Tamsulosin) and Storfib Tab (Atorva + Fenofibrate
145) are the new products launched for the first time in the country. Coltazole-OD (Cilastozole)
& Contiflo ICON (Tamsulosin) are based on the Company’s NDDS (Novel Drug Delivery
System s) platforms.
 During the Moving quarter (Dec 07- Feb 08, source ORG-IMS report), the market share of the
Company moved up to 5.05% from 4.82% (Dec 06-Feb 07) with 23% growth. This is a further
improvement over the market share of 4.97% on MAT –moving annual total basis. Ranbaxy
maintained its 2nd rank in the domestic market during this period.
 Contribution of Chronic therapy portfolio for Ranbaxy to total sales has further improved to 24%
(February, 2008 MAT) against 21% over the corresponding period last year. Ranbaxy’s Chronic
Portfolio has grown at a higher rate of 28% against 21% for the market.
 Amongst “New Products Introduction” category (Source ORG-IMS report), Ranbaxy has the
highest numbers of brands featuring amongst the Top-30 leading launches in the industry
over the last two years. These brands are: Synasma (Doxophylline), Volitra (Topical NSAID
formulation) & Gembax (Gemifloxacin)
 The contribution of the Novel Drug Delivery System (NDDS) portfolio to total Ranbaxy sales
stood at 9% and the Company remained among the top rung companies with 7% market share
in the NDDS segment (February, 2008 MAT)
 Ranbaxy launched BONISTA, a Teriparatide injection (recombinant human parathyroid
hormone) for the treatment of Osteoporosis, in collaboration with Virchow Biotech Pvt Ltd,
Hyderabad, India. Ranbaxy is the first company to launch this bio-generic product in the world.
The Osteoporosis segment in India currently has a market size of around Rs. 219 crores
and grew more than 29% in value terms in 2006-07.
 The Company also entered into an exclusive in-licensing agreement with CD Pharma, the Indian
affiliate of US based VSL Pharmaceuticals for a first of its kind breakthrough drug in the dental
segment. The patented product INERSAN will be sold in India & Nepal and is used in the
treatment of dental problems such as Periodontitis, Gingivitis & Halitosis.
CIS: Russia & Ukraine
The region recorded sales of USD 24 Mn (+29%) for the Quarter. Russia recorded sales of USD
13 Mn, a growth of 41% in the quarter, while sales in Ukraine were at USD 11 Mn, a growth of
17%. In Russia, both the ethical & OTC segments continued to perform well with key products
such as Coldact, Pylobact, Cifran & Simvor maintaining their leading market standing in their
respective therapeutic categories. In Ukraine, key products that contributed to sales were Loxof,
Ketanov & Cifran.
Asia Pacific (excl. India)
The Asia Pacific region recorded sales of USD 25 Mn, an increase of 37% over the previous
period. All countries in the region have shown buoyant growth led by Malaysia, China & Japan.
Malaysia recorded sales of USD 6 Mn, +40%, contributed by products such as Fluhalt, Storvas
& Enhancin. Sales in China during the quarter was USD 4 Mn, a growth of 32% versus the
corresponding previous period, led by a mix of both existing and new products.
The Company’s business in Japan recorded sales of USD 5 Mn, a robust growth of 51%. The
Company has attained the unique distinction of having the first product i.e. Amlodopine,
developed by any foreign generic pharmaceutical company outside Japan and subsequently being
granted approval by MHLW (Japan). Amlodipine tablets has a market size of approximately
USD 2 Billion (Jan-Dec’ 2007 – IMS – Japan). The Government of Japan is encouraging generic
substitution, reflected in the increasing genericization of medicines which is expected to grow to
30% in volume terms by 2012. The Company is well poised to capitalize on this opportunity in
the future.
Middle East registered sales of USD 7 Mn, 13% better than the corresponding previous period.
Bahrain, Lebanon & UAE have shown a strong performance and have contributed to sales for the
quarter.
Rest of the World (RoW)
Africa: Recorded sales of USD 31 Mn , a growth of 28%. South Africa recorded sales of USD 11
Mn, a growth of 68%. Key markets in East Africa such as Kenya & Ethiopia also performed well
contributing to growth in the quarter.
The Company’s core business sales in Africa (excluding the ARV business) recorded a growth of
29% with sales at USD 21 Mn.
Brazil: Sales stood at USD 10 Mn for the Quarter, recording a growth of 75% over the
corresponding previous period. The Company is currently ranked 6th in the generic market and
has a 3.9% market share ( 3.1% in the corresponding previous period). Rest of Latin America
(excl. Brazil) registered sales for the quarter at USD 6 Mn, a robust growth of 77%.
Global Consumer Healthcare (GCHC): Sales for the Quarter were USD 10 Mn, a growth of 28%
over the corresponding previous year. The Company’s leading brand Revital crossed the Rs 100
Crore sales mark based on Secondary MAT Mar ’08 and recorded a healthy growth of 21%. The
market share of the product increased 4% to 82% (ORG – SSA MAT Feb 08). The Company
also announced its entry into the Chyawanprash segment, launching its sugar-free product under
the Brand name ‘Chyawan Active’. The product will be initially introduced in North India and
later in other parts of the country. Ranbaxy’s ‘Chyawan Active’ is an Ayurvedic Proprietary
Medicine developed by the Company’s Herbal Drug Research team.
Q2 (Apr-Jun)
GLOBAL SALES AT USD 440 MN (RS
18,296 MN), + 11%
Jul 29, 2008:
The Board of Directors of Ranbaxy Laboratories Limited (RLL) at their meeting held today, took on record
the unaudited results for the quarter ended June 30, 2008.
Key Highlights for the quarter (Q2 , 2008)*:
 Consolidated sales at USD 440 Mn, (Rs 18,296 Mn), records growth of 11%.
 Operating Profit after Tax at USD 39 Mn (Rs 1,608 Mn).
 Earnings before Interest, Depreciation, Tax & Amortization (EBIDTA) reflects margin to sales of
16.8% ( 2007: 16.4%).
Key Highlights for the first half ( H1, 2008)*:
 Consolidated sales at USD 849 Mn (Rs 34,527 Mn), records growth of 13%.
 Operating Profit after Tax at USD 69 Mn (Rs 2,804 Mn), +6%.
 Earnings before Interest, Depreciation, Tax & Amortization (EBIDTA) reflects margin to sales of
15.9% ( 2007 : 15.0 %).
Consolidated Financial Performance*
Figures in USD Mn
Q2 Q2 % %
Particulars H1 ’08H1 ’07
’08 ’07 Ch. Ch.
Sales 440 395 +11 849 750 +13

Earnings before Interest, Depreciation, Tax & Amortization
74 65 +14 135 113 +20
(EBIDTA)
EBIDTA margins (% to Sales) 16.8% 16.4% - 15.9% 15.0% -
Profit After Tax (PAT) 39 39 - 69 63 +10
Figures in Rs Mn
% %
Particulars Q2 ’08 Q2 ’07 H1 ’08 H1 ’07
Ch. Ch.
Sales 18,29616,238+13 34,52731,882+8
Earnings before Interest, Depreciation, Tax & Amortization

(EBIDTA) 3,080 2,664 +16 5,505 4,791 +15
Profit After Tax (PAT) 1,608 1,604 - 2,804 2,650 +6
* Excludes foreign exchange gains/losses on translation & extra-ordinary items
Commenting on the long ranging positive developments in the quarter, Mr. Malvinder Mohan
Singh, CEO and MD, Ranbaxy, said, “Most striking has been our path-breaking deal with
Daiichi Sankyo which I believe will substantially alter the rules of the game and re-define the
global pharmaceutical landscape. We have the early mover advantage and are best placed to gain
from the complementary strengths of both partners in capitalizing on the opportunities available
across the entire pharmaceutical value spectrum. We expect performance to be stronger as we
move through the rest of the year.”
Figures in USD Mn
Region / Country Q2 ’08 Q2 ’07 % Ch. H1 ’08 H1 ’07 % Ch.
North America 120 102 +18 230 193 +19
India 90 87 +3 175 160 +10
Europe 89 86 +4 172 179 (4)
Asia Pacific & CIS(Excl. India) 49 41 +20 98 78 +26
Rest of World 60 54 +11 112 92 +21

Active Pharmaceutical Ingredients (API) 32 25 +31 62 48 +29
Global Sales 440 395 +11 849 750 +13
 Developed markets accounted for 40% to global sales and recorded a growth of 12%. USA,
Canada & France were the primary contributors to growth. Emerging markets contributed 53%
of global sales and grew 9%. Key countries in Latin America, Asia Pacific and Africa contributed
to the growth in emerging markets.
 North America sales at USD 120 Mn, +18%. Sotret, the Company’s leading brand in the
dermatology segment, consolidates market leadership position with 53% market share.
 Company announced that its promoters, the Singh family and the Company, have entered into a
binding Share Purchase and Share Subscription Agreement with Daiichi Sankyo, the second
largest innovator pharmaceutical Company in Japan. Both the Companies believe that this
transaction will create significant long-term value for all stakeholders.
 Company enters into an agreement with Pfizer Inc. to settle most of the patent litigation
worldwide, involving Atorvastatin (Lipitor), the world’s most-prescribed cholesterol-lowering
medicine. Lipitor is the world’s largest selling drug with worldwide sales of USD12.7 Bn in 2007.
 Ranbaxy receives tentative approval from the U.S. Food and Drug Administration to
manufacture and market Valganciclovir Hydrochloride Tablets, 450 mg. The Company believes
that it has First-to-File status on the product with total annual market sales at USD 239 Mn (IMS
– MAT: March 2008).
 Company signs a strategic Product Development Agreement with Merck & Co. Inc. in the
therapeutic area of anti-infectives. The deal involves an undisclosed upfront sum payment, with
the potential to receive payments totaling more than USD 100 Mn and significant royalties on
worldwide net sales of any products commercialized under the Agreement.
 Ranbaxy enters into a strategic business alliance with Orchid Chemicals & Pharmaceuticals
Limited, involving multiple geographies and therapies for both finished dosage formulations and
active pharmaceutical ingredients. The alliance is expected to be mutually beneficial and
synergistic, allowing both organisations to leverage each others strengths and capabilities.
Quarter ended June 30, 2008 (Q2)
For Q2, the Company achieved Sales of Rs. 18,296 Mn [USD 440 Mn] (2007: Rs. 16,238 Mn,
USD 395 Mn), recording a growth of 13%. Profit before finance cost, depreciation, tax and
amortization was Rs. 3,261 Mn [USD 78 Mn] (Rs. 2,265 Mn, USD 55 Mn), reflecting an
EBITDA margin of 17.8% to sales. Excluding the foreign exchange gains/losses on translation,
EBITDA margins stood at 16.8% to sales. Profit after tax excluding the foreign exchange gains /
losses on translation was at Rs 1,608 Mn [USD 39 Mn], similar to the corresponding previous
quarter. Reported Profit after tax was at Rs. 229 Mn [USD 6 Mn].
Half year ended June 30, 2008 (H1)
For H1, the Company recorded Sales of Rs. 34,527 Mn [USD 849 Mn] (2007: Rs. 31,882 Mn,
USD 750 Mn), registering a growth of 8%. Profit before finance cost, depreciation, tax and
amortization was Rs. 5,813 Mn [USD 143 Mn] (Rs. 4,173 Mn, USD 98 Mn), reflecting an
EBITDA margin of 16.8% to sales. Excluding the foreign exchange gains/losses on translation,
EBITDA margins were at 15.9% to sales. Profit after tax, excluding the foreign exchange gains /
losses on translation, was at Rs 2,804 Mn [USD 69 Mn] (Rs 2,650 Mn, USD 63 Mn), recording a
growth of 6%. Reported Profit after tax was at Rs. 1,597 Mn [USD 39 Mn].
Global Sales
For Q2, Consolidated Sales were at USD 440 Mn, an increase of 11%. Developed markets led by
USA and Canada, contributed 40% to global sales and grew 12% whereas the Emerging markets
accounted for 53% to global sales and recorded a growth of 9%. The Active Pharmaceutical
Ingredients (API) business recorded a growth of 31% and contributed 7% to sales. International
dosage forms at USD 318 Mn for Q2’08, grew by 12% over the corresponding previous period
and was 72 % of Global Sales.
For H1, Global Sales at USD 849 Mn, recorded a growth of 13%. Developed markets recorded a
growth of 14% while the Emerging markets grew 10%, both contributing similarly to global
sales as in the quarter. The API business recorded a growth of 31%.
North America
North America, comprising USA and Canada, recorded sales of USD 120 Mn, +18%, in the
quarter. For H1, sales were at USD 230 Mn, +19%.
USA recorded sales of USD 106 Mn for the Quarter, a growth of 12% over the corresponding
previous period. Volume growth, contribution from new products introduced during the year and
a robust performance from the branded business led to an overall improved performance. For H1,
USA recorded a growth of 14% with sales at USD 206 Mn
The overall market share of Ranbaxy in the US generic market (in the molecules Ranbaxy is
present) was ~10.3% for Q2 ’08.
The branded business continued to register a robust growth momentum, with Sotret maintaining
its lead market standing and a strong performance coming from the dermatology products basket
that was successfully re-launched post acquisition from Bristol Myers Squibb last year. With the
expansion of the sales force, the targeted doctor coverage for Sotret has increased to 85%. Sotret
currently has a market share of 53.3% with the 30mg dosage strength of the product holding its
leadership position with a 68% market share.
A significant highlight during the quarter, was the agreement with Pfizer Inc. to settle most of the
patent litigation worldwide, involving Atorvastatin (Lipitor), the world’s most-prescribed
cholesterol-lowering medicine. Lipitor is the world’s largest selling drug with worldwide sales in
2007, of USD 12.7 Bn. The key highlights of the deal are:
The Company will have a license to sell generic versions of Atorvastatin (Lipitor) and the fixed-
dose combination of Atorvastatin-Amlodipine besylate (Caduet) in the United States, effective
Nov. 30, 2011.
The Company will also have a license to sell Atorvastatin on varying dates in an additional 7
countries, including: Canada, Belgium, Netherlands, Germany, Sweden, Italy and Australia.
Disputes between the Company & Pfizer regarding Atorvastatin in Malaysia, Brunei, Peru and
Vietnam have also been settled.
The settlement also resolves additional patent litigation between the companies involving the
branded drugs Accupril .i.e. Quinapril Hydrochloride (in the U.S.) and Viagra .i.e. Sildenafil (in
Ecuador).
Canada
The business in Canada continued its strong growth momentum doubling sales to USD 14 Mn
over the corresponding previous period. For H1, sales in Canada were at USD 24 Mn, a robust
growth of 91%. While key products such as Citalporam and Ciprofloxacin continued to perform
well, Rabiprazole and Pantaprazole, both ultra generic products launched in Q1 & Q2 of 2008
respectively, also contributed significantly to sales.
Europe
In Q2 2008, Europe (including Romania) recorded sales of USD 89 Mn, 4% better than the
corresponding previous period, while for the first half, sales in Europe stood at USD 172 Mn, a
marginal decline of 4%. Romania recorded sales of USD 31 Mn for the Quarter, a growth of 5%
over the corresponding previous period, while in H1, sales were at USD 57 Mn, a decline of
14%. Sales in Romania were impacted as a result of the ongoing healthcare reforms in the
market place However, sales in the current quarter grew 17% versus the trailing quarter i.e. Q1
2008, signaling the gradual improvement in operations and the positive impact of branded
prescribing which was introduced from April 1, 2008. France, the second largest market for the
Company in EU, recorded a growth of 11% to USD 18 Mn. Two new day-one products were
launched in the Quarter i.e. Loratidine & Clarithromycin. For H1, sales in France recorded a
growth of 4% to USD 30 Mn. UK & Germany recorded sales of USD 10 Mn and USD 8.5 Mn
respectively, a decline of 22% and 30%. While UK continued to witness difficult market
conditions, sales in Germany were impacted due to the high base of sales in the corresponding
previous quarter, as a result of the business accruing from the previous AOK contracts. For H1,
sales in UK & Germany were at USD 21 Mn and 19 Mn respectively.
Sales in Rest of Europe were at USD 22 Mn, a growth of 40% over the corresponding previous
period. For H1,sales stood at USD 46 Mn, a growth of 21%. Italy and Spain, the recently entered
newer markets, recorded combined sales of USD 6 Mn in the quarter, a growth of 10%, while
Poland and Central Europe recorded sales of approx. USD 5 Mn each, +31% and +53%
respectively. Ranbaxy is the fastest growing Company in the generic segment in Italy and is
currently ranked 8th.
Asia Pacific & CIS
The region recorded sales of USD 136 Mn for the Quarter, 8% better than previous year. Most
countries recorded a good growth in the region led by CIS, Middle East, China, Japan and
Thailand. For H1, sales in the region stood at USD 267 Mn, +15%.
India
The sales for the Quarter were at USD 79 Mn, at similar levels to those of the corresponding
previous period. During the Quarter, the Company launched 26 new products across several
therapies like antibiotics, cardiovascular, asthma, orthopedics and gastrointestinal. For H1 2008,
sales recorded a growth of 7% to USD 154 Mn.
During the Moving quarter (Mar – May 08), the Company garnered a market share of 5.28%
(5.05% on MAT basis) and recorded a growth of 16.6% (Month- May 08) as compared to the
industry growth of 7.8%. On a cumulative basis i.e. Jan- May 2008, the Company grew faster
than the market at 20.3% ( versus 13.3% for the market)
The Company has been ranked as the Number 1 consecutively for the last 3 months, i.e. April,
May and June 08.
Contribution of Chronic therapy portfolio for the Company stands at 24.7% to sales (May, 2008
Moving Quarter) against 24.2% over corresponding period last year. Ranbaxy’s Chronic
Portfolio has grown at a pace of 21.1%, marginally ahead than the 20.3% growth for the market.
The Company has 17 brands in the top 300 brands of the industry. It has 9 Brands in the Top 100
list (Cum Jan – May 08)
CIS (Russia and Ukraine Belt)
The region recorded sales of USD 25 Mn for the Quarter, representing a growth of 44%. Sales in
Russia grew by 49% to USD 15 Mn, while sales in the Ukraine region registered a growth of
37% to USD 10 Mn. For H1 2008, sales in the CIS countries grew by 36% to USD 49 Mn, with
Russia at USD 28 Mn (+45%) and Ukraine at USD 21 Mn (+26%). Both the ethical and OTC
segments in Russia continue to perform well and key products such as Cifran and Simvor
maintained their leading market standings. With the investments made previously in the
expansion and strengthening of the sales & marketing team, coupled with new product
introductions, the CIS operations for the Company continue to register robust growth.
Asia Pacific (excl. India): Recorded sales of USD 24 Mn, a growth of 3%, while for H1, sales
were at USD 49 Mn, +18%. Most countries in the region have shown buoyant growth led by
Japan, China and Thailand. The Company’s business in Japan recorded sales of USD 6 Mn,
+88% for the quarter (H1 sales at USD 10 Mn, +70%). The robust growth in Japan is a result of
the pro-generic reforms introduced by the government effective Q1 2008. The Company also
launched Amlodopine in the market during the quarter.
Middle East recorded sales of USD 6 Mn, 39% better than the corresponding previous period and
for H1 sales were at USD 12 Mn, +34%.
Rest of the World (RoW)
Brazil: Sales were at USD 15 Mn for the Quarter, recording a growth of 45%. For H1, sales were
at USD 25 Mn, +56%. The generic market in Brazil continues to exhibit buoyant growth, faster
than the overall pharmaceutical market. The Company is currently ranked 6th in the generic
market and has a 4% market share for the period MAT May 08 (2.9% in the corresponding prior
period).
Africa: Recorded sales of USD 31 Mn, at similar levels to the corresponding previous period,
while sales in the first half (H1) grew 12% to USD 62 Mn. Nigeria recorded a sales growth of
47% to USD 7 Mn in the quarter, while countries in East Africa also recorded good growth
contributing to the performance. South Africa registered sales of USD 13 Mn, a de-growth of
5%. The Company’s core business sales in Africa (excluding the ARV business) achieved a
growth of 17% for the quarter with sales at USD 45 Mn.
Global Consumer Healthcare (GCHC): Sales for the Quarter were USD 12 Mn, a growth of 36%,
while for H1, sales recorded a growth of 32% to USD 21 Mn. Revital, the Company’s key brand
further increased its market share by 5.5% to 83.9% (ORG SSA MAT May 08). The brand is
currently ranked No 21 (MAT 08) versus No 31 during the corresponding previous period. The
Company’s other brand, Chericof has recorded a good growth of 22.4% during the period MAT
May 08 (ORG SSA).
Q3 (Jul-Sep)
GLOBAL SALES AT RS 18,884 MN (+
14%); EMERGING MARKETS DELIVER
STRONG GROWTH OF 20%;
DEVELOPED MARKETS GROW BY 9%
Oct 31, 2008:
The Board of Directors of Ranbaxy Laboratories Limited at their meeting held today, took on record the
unaudited results for the quarter ended September 30, 2008.
 Consolidated net sales at Rs. 18,884 Mn, a growth of 14% (USD 431 Mn).
 Emerging markets portfolio achieves sales of Rs. 10,644 Mn, with a strong growth of 20%;
accounts for 56% of sales (USD 243 Mn).
 Developed markets sales grew by 9% to Rs. 7,089 Mn (USD 162 Mn); accounts for 38% of sales.
 Earnings before Interest, Tax, Depreciation & Amortization (EBITDA) for the quarter is Rs. 1,440
Mn (8%). EBITDA for the year to date is Rs. 7,253 Mn reflecting a margin to sales of 14%.
 Gross margin on year to date basis maintained at 51% despite adverse economic conditions this
year.
 Over the current year there has been a consistent improvement in Working Capital
management with a result that the Company’s Gross Working Capital has reduced by 5%.

YTD Sep, YTD Sep,
Articulars Q3’08 Q3’07 Change Change
08 07
Sales 18,88416,52014.3% 53,411 48,402 10.3%
Earnings before Interest, Tax, Depreciation &

1,440 2,831 -49.1% 7,253 7,004 3.6%
Amortization (EBITDA)
EBITDA 7.6% 17.1% 13.6% 14.5%
Operating Profit After Tax* -49 1,619 ~ 2,755 4,269 -64.5%
*Excluding Foreign Exchange Gains/Losses on translations and Exceptional Items
After accounting for Foreign Exchange Gains/Losses on translations and exceptional items, the
Profit After Tax for the quarter is Rs. (3,945) Mn (USD (96) Mn) (YTD Sep’08 Rs. (2,348) Mn
(USD (56) Mn).
Commenting on the developments in the quarter, Mr. Malvinder Mohan Singh, CEO and MD,
Ranbaxy, said “As part of our strategy to rebalance our portfolio, we have been focusing on
strengthening our emerging markets business which continued to deliver strong growth in Q3’08.
We have also achieved a significant milestone with Daiichi Sankyo acquiring a majority stake in
Ranbaxy. This will create a strong global innovator and generic powerhouse. The quarter also
had its challenges including unprecedented forex movement and some losses relating to the turn
of events on the USFDA front. We continue to cooperate closely with the US authorities and
remain positive that outstanding issues will be resolved.”
Region/ Country Q3’08 Q3’07 ChangeYTD Sep, 08 YTD Sep, 07Change
North America 4,855 4,445 9.2% 14,202 12,655 12.2%
India 4,000 3,704 8.0% 11,116 10,499 5.9%
Europe 3,653 3,187 14.6% 10,647 10,760 -1.1%
Asia Pacific & CIS (Excl. India) 2,483 1,736 43.0% 6,469 5,044 28.2%
Rest of World 2,732 2,333 17.1% 7,286 6,291 15.8%
Active Pharmaceutical Ingredients (API) and Others 1,161 1,115 4.2% 3,691 3,152 17.1%
Global Sales 18,88416,52014.3% 53,411 48,402 10.3%
 Ranbaxy and Daiichi Sankyo close to completing the landmark deal. Daiichi Sankyo acquires
52.5% of the equity share capital of Ranbaxy through acquisition of shares under open offer,
allotment of shares on preferential basis and acquisition of shares from the existing promoters.
 The Company receives Rs. 35,849 Mn against Preferential equity and warrants issued to Daiichi
Sankyo.
 The Company obtained approval from the Drug Controller General of India (DCGI) to initiate
Phase-III human clinical trials in India for its new Anti-Malaria combination molecule, Arterolane
Maleate in combination with Piperaquine Phosphate.
 The Company submitted an Investigational New Drug application to the DCGI for permission to
initiate Phase-I human clinical trials for the Respiratory Inflammation candidate identified by the
joint GSK-Ranbaxy steering committee.
 The Company, under an agreement with AstraZeneca Pharmaceuticals launched an authorized
generic of Omeprazole 40 mg Capsules in the U.S. healthcare system.
 The WHO, Geneva, approved and included Abacavir 300 tablets, an Anti Retroviral drug in its
pre-qualification list. With the inclusion of this drug, Ranbaxy now has 18 ARVs on the WHO pre-
qualification list.
 The Motion filed by the US Department of Justice was withdrawn, subsequent to Ranbaxy
producing a comprehensive set of audit documents. Ranbaxy remains confident that its
pharmaceutical products are safe and effective and remains committed to continuously
cooperate with all relevant authorities.
 The Company has received two warning letters from USFDA on its Dewas and Batamandi
facilities followed by an import Alert in the US market for 30 formulations and seven APIs
manufactured at Dewas and Poanta Sahib sites.
 Ranbaxy retained the services of former New York City Mayor Rudy Giuliani and Giuliani
Partners to provide advice to the Company on matters in the US.
 The UK Serious Fraud Office’s (SFO) prosecution of the Company’s UK subsidiary, Ranbaxy (UK)
Limited, was quashed by the English Crown Court.

Quarter ended September 30, 2008 (Q3)
Global Sales
In Q3’08, Consolidated sales were Rs. 18,884 Mn (USD 431 Mn), exhibiting a growth of 14%
on yoy basis. Emerging markets accounted for 56% of global sales at Rs. 10,644 Mn (USD 243
Mn), and grew by 20%. The emerging market sales were led by strong performances in
Romania, CIS and Latin America markets. Developed markets contributed 38% of global sales
(Rs. 7,089 Mn; USD 162 Mn) and grew at 9%. Strong growth in Canada and Japan was partly
offset by lower than expected performances in Europe and USA.
North America
USA
During the quarter Ranbaxy launched its first authorized generic Omeprazole 40 mg Capsules in
the US market – under an agreement with AstraZeneca Pharmaceuticals. AstraZeneca’s
Prilosec® 40 mg had sales in the U.S. market of USD 204 Mn (IMS: March, 2008 MAT).
USA recorded sales of Rs. 4136 Mn ( USD 94 Mn) for the quarter, at similar levels as previous
year. The overall market share of Ranbaxy in the US generic market (in the molecules where the
Company is represented) was 10% for Q3’08.
US FDA development
In a recent significant development, the Motion filed by the US Department of Justice (DOJ) was
withdrawn after Ranbaxy provided the DOJ with a comprehensive set of audit documents.
Earlier in July, 2008, the DOJ had filed a motion against Ranbaxy seeking certain documents.
While Ranbaxy strongly refutes the allegations contained in the Motion, it will continue to
defend its position and cooperate with the DOJ and all regulatory and legislative authorities to
arrive at a swift resolution of all the issues.
The USFDA issued warning letters and Import Alert for Drugs produced in two Ranbaxy plants
in India. The issues raised in the warning letters relate to “process concerns” and not to product
quality, safety or effectiveness. Ranbaxy is however, pleased that USFDA’s testing and review
led the agency to conclude that there is no reason to question the safety or effectiveness of
Ranbaxy’s drugs which is further substantiated by the fact that FDA has strongly advised the US
consumers to continue using medication manufactured by Ranbaxy as there is no evidence of
harm being caused to the patients.
Reiterating its commitment to work cooperatively with the relevant authorities in the US, the
Company retained the services of former New York City Mayor Rudy Giuliani and Giuliani
Partners to provide advice to the Company on matters in the US.
Canada
The business in Canada continued to show strong growth. Sales in the quarter were Rs. 719 Mn
(USD 16 Mn), a growth of 139% over the previous corresponding period. During the nine
months ended September, 2008, Canada registered sales of Rs. 1688 Mn (USD 40 Mn), an
impressive growth of 102%. The Company made two promising launches during the quarter viz.,
Rabeprazole and Pantoprazole.
Europe
In Q3, Europe (including Romania) registered sales of Rs. 3,653 Mn (USD 83 Mn), a growth of
15%. Sales in Poland, Italy, Nordic countries and the Baltic States grew 88% to Rs. 486 Mn
(USD 11 Mn). Revenues witnessed a downward trend in UK, France, Germany due to
continuing competitive and pricing pressures. Combined sales in these countries were Rs. 1,495
Mn, a de-growth of 6% (USD 34 Mn).
The English Crown Court quashed the UK Serious Fraud Office’s (SFO) prosecution of the
Company’s UK subsidiary, Ranbaxy (UK) Limited. The Court also declined an application by
the SFO for permission to appeal to the English Court of Appeal.
Romania
Romania recorded sales of Rs. 1,235 Mn (USD 28 Mn), a growth of 34% over the corresponding
previous period. Ranbaxy is currently the largest pharmaceutical company in the Romanian
generic segment with 12.9% market share. It has grown faster than the market (14.7% versus
11.6%; IMS Data) during the quarter.
Asia Pacific, Middle East and CIS (Including Sri Lanka)
Sales during the quarter were Rs. 6,296 Mn, a healthy growth of 19% (USD 144 Mn). The
growth was led by CIS & Japan.
India (Excluding Global Consumer Healthcare):
The sales for the quarter were at Rs. 3,542 Mn (USD 81 Mn), a growth of 7% over the previous
During the Moving quarter (Jun-Aug 2008), Ranbaxy garnered 5.08% market share (5.11% on
MAT basis) maintaining its Number 1 rank in the domestic formulation market for the period as
well as for the entire Q2’08 period. The Company’s growth for the period was 11.1% against a
market growth of 6.7%.
Contribution of Chronic therapy portfolio for Ranbaxy to total sales stands at 25.1% (August,
2008 YTD) against 23.9% over corresponding period, last year. Ranbaxy’s Chronic Portfolio has
grown at a pace of 22.6%, significantly higher than the 13.8% growth for the market. Penems
portfolio (Cilanem, Faronem, Zivator) captured 21.5 % share in the segment (August, 2008
MAT).
In the major Chronic therapies like Cardiovascular & Anti-diabetics, Ranbaxy registered a higher
growth of 33.4 % and 24.5% against a market growth of 15.3% and 16.4% respectively (YTD
August, 2008 basis).
Ranbaxy continued to lead in the anti-infective therapy with 11.1% share for the YTD August,
2008 period.
The Company maintains strong leadership in the branded pharmaceuticals segment with 5 of its
brands in the top 30 and 18 brands in the top 300.
Among new launches, Ranbaxy currently has 4 products in the top 30 new introductions during
the last one year.
CIS: Russia & Ukraine Belt
Sales in the region during Q3’08, grew by 54% to Rs. 1,413 Mn (USD 32 Mn). In Russia sales
grew by 64% to Rs. 887 Mn (USD 20 Mn), while sales in the Ukraine belt grew by 40% to Rs.
525 Mn (USD 12 Mn). YTD September sales in the CIS are Rs. 3,388 Mn (USD 81 Mn).
Asia Pacific (excluding India)
Sales in this region were Rs. 1,070 Mn, registering a growth of 31% (USD 24 Mn). The growth
was led by a diverse set of markets including Japan, Malaysia, Australia & New Zealand, etc. In
Japan, Ranbaxy had a day one launch for Amlodipine.
Middle East & Sri Lanka recorded sales of Rs. 271 Mn (USD 6 Mn) during the quarter,
registering a growth of 19% over the correspondence quarter of last year.
Africa
Sales during the quarter were Rs. 1,436 Mn, a growth of 4% (USD 33 Mn). During the nine-
month period ending September, 2008, sales were Rs. 3948 Mn, a growth of 6% (USD 95 Mn).
Sales in Nigeria grew 21% to Rs. 309 Mn (USD 7 Mn). Sales of Ranbaxy in South Africa grew
by 3% to Rs. 728 Mn (USD 17 Mn). In South Africa, Ranbaxy has maintained its ranking at
Number 5 among generic players in the country. The company launched two new products,
Gabapentin and Peridopril, in South Africa during the quarter. Rest of Africa recorded de-growth
of 3% to Rs. 399 Mn (USD 9 Mn).
Brazil & Rest of Latin America
Brazil: Sales were Rs. 686 Mn in Q3’08, 39% higher than corresponding quarter of last year
(USD 16 Mn). The company is currently ranked 6th in the generic market and has improved its
market share from 3.4% in Aug 07 to 4.1% in August 2008.
Rest of Latin America: registered sales of Rs. 338 Mn during Q3’08, a growth of 45% (USD 8
Mn). Growth was led by Peru, Ecuador, Colombia, Caribbean Islands and Central America.
Global Consumer Healthcare
Sales for the quarter were Rs. 458 Mn, registering a growth of 16% (USD 10 Mn). YTD
September, 2008 sales grew 23% to Rs. 1,317 Mn (USD 32 Mn). Revital, a key brand further
increased its market share to 85.4% (ORG SSA YTD August, 2008). Revital was ranked at No.
16 as against No. 28 in August 2007. (ORG-SSA MAT August 2008). Another major brand,
Chericof, grew by 30.3% over last year on a MAT basis (Source: ORG-SSA MAT August,
2008).
Research & Development
Ranbaxy made good progress in the area of New Drug Discovery Research.
The Company obtained approval from the DCGI to initiate Phase-III human clinical trials in
India for its new drug for treatment of malaria, Arterolane Maleate + Piperaquine Phosphate.
This drug had successfully completed the Phase II trials in Thailand and India. Ranbaxy has
plans to seek regulatory approval in other countries such as Africa, South & South East Asian
counties for Phase-III clinical trial at the earliest.
Under the joint drug discovery programme with GlaxoSmithKline (GSK), the Company
achieved a significant milestone by submitting an Investigational New Drug (IND) application to
the DCGI, seeking permission to initiate Phase-I human clinical trials for its
Respiratory/Inflammation candidate. The Company also plans to file an IND in Romania shortly
and will very soon initiate Phase-I trials on this molecule both in India and Romania.

ground operations in 49 countries and manufacturing operations in 11 countries.
Statements contained in this press release refer to Ranbaxy’s estimated or anticipated future
results or other non-historical facts statements reflecting Ranbaxy’s current perspective of
existing trends and information as of the date of this release. These forward-looking statements
contained in this press release speak only as of the date the statement was made. Such statements
involve known and unknown risks, uncertainties and other factors that may cause actual results
to differ materially. By their nature, these expectations and projections are only estimates and
could be materially different from actual results in the future. Ranbaxy undertakes no obligation
(nor does it intend) to publicly update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, except to the extent required under
applicable law.
Q4 (Oct-Dece)
FY 2008 GLOBAL SALES AT RS 72,507 MN
(+8%); Q4 2008 GLOBAL SALES AT RS
19,096 MN (+6%)
Jan 22, 2009:
The Board of Directors of Ranbaxy Laboratories Limited (Ranbaxy) at their meeting held today
took on record the un-audited standalone results for the Q4’08 and the year ended December 31,
2008.
Key Financial & Operational Highlights for the Year 2008:
 Consolidated net sales at Rs. 72,507 Mn, a growth of 8% (USD 1,667 Mn).
 Emerging markets portfolio achieves sales of Rs. 39,114 Mn, maintaining an upward trend with a
growth of 9%; accounts for 54% of sales (USD 899 Mn).
 Developed markets sales grew by 7% to Rs. 28,334 Mn (USD 651 Mn); accounts for 39% of sales.
 Earnings Before Interest, Tax, Depreciation & Amortization (EBITDA) was Rs. 6,168 Mn (USD 142
Mn); reflecting margin to sales of 8.5%.
 During Q4’08, the Company adopted AS30 (Financial Standard 30 – Financial Instruments:
Recognition and Measurement) to stay current in its accounting practices and to ensure high
level of transparency. As a result of this, change in fair valuation during Q4’08, of forex options
taken by the Company to safeguard its receivables, is accounted for in the P&L.
 The results were significantly impacted by three major factors viz., AS30 impact of USD 161 Mn,
forex impact of USD 179 Mn, US related provisions of USD 59 Mn. While these three items were
non-cash in nature, they primarily contributed to the overall loss of Rs. 9,146 Mn (USD 198 Mn)
for the year.
 Through effective Working Capital Management the Company strengthened the cash flow by
reducing Gross Working Capital by 5% of MAT sales.
 In Jun’08, Ranbaxy and Daiichi Sankyo, the third largest pharmaceutical company in Japan,
signed a landmark deal, with Daiichi Sankyo acquiring majority stake in Ranbaxy. Later in the
year, Daiichi Sankyo completed the transaction for acquisition of 63.92% stake in the Company.
 The Company received Rs. 35,849 Mn against preferential equity and warrants issued to Daiichi
Sankyo, significantly bolstering Net Worth.
 A multi-pronged action plan is underway to restore and safeguard the current and future
product portfolio in the US market. Ranbaxy is committed to a working towards a swift
resolution of all matters.
 The Company made its first set of authorized generic launches in the US. Both Omeprazole 40
mg Capsules and Felodipine ER Tablets have performed well in the market, with Omeprazole
garnering 43% market share.
 Following the USFDA Import Alert in Sep’08, Pharmaceutical and Medical Devices Agency, Japan
(PMDA) audited three dosage form and one Active Pharmaceutical Ingredient (API) facility of the
Company during Oct-Nov’08. The dosage form facilities audited were Paonta Sahib, Batamandi
and Dewas while the API facility was Toansa. All these inspections were successful and as a
result, the Company has so far received approvals for Levofloxacin 100mg Tablets and
Bicalutamide 80mg Tablets. This reaffirms Ranbaxy’s position as a trusted supplier of generic
medicines manufactured in line with the most stringent global standards.
 Ranbaxy and Pfizer Inc. entered into an agreement to settle most of the patent litigation
worldwide involving Atorvastatin (Lipitor®), the world’s most-prescribed cholesterol-lowering
medicine. This decision will allow for an earlier introduction of a generic formulation in several
countries. Ranbaxy will have a license to sell generic versions of Atorvastatin and the fixed-dose
combination of Atorvastatin-Amlodipine Besylate in the United States. The Company will retain
the right to the marketing exclusivity of 180 days in the United States.
 Ranbaxy reached several agreements with AstraZeneca settling patent infringement litigation
for Nexium® (Esomeprazole Magnesium). The settlement allows Ranbaxy to supply API and
formulation to AstraZeneca, and later to exclusively sell a generic version of Nexium® under
license from AstraZeneca with 180 days exclusivity in USA.
 The Company settled all matters relating to possible patent litigation with GlaxoSmithKline (GSK)
relating to Sumatriptan Succinate Tablets, the generic version of GSK’s Imitrex® Tablets. The
settlement allows Ranbaxy to distribute a generic version of Imitrex® Tablets (in the 25 mg, 50
mg and 100 mg strengths) in USA. Ranbaxy is currently awaiting approval from USFDA for
launch.
 Ranbaxy launched on day-1 of patent expiry, Amlodipine tablets 2.5mg & 5mg in Japan.
Amlodipine, the largest molecule that went off-patent in Japan. The product was independently
developed by Ranbaxy, and is the first product developed by a foreign generic pharmaceutical
company outside Japan and approved by MHLW-Japan.
 Sales in emerging markets grew 9% during the year while revenues from developed markets
were higher by 7%, as is reflected in the table below for sales in key geographies.
Global Region wise sales

Region/Country FY 2008 FY 2007 Change Q4 2008 Q4 2007 Change
North America 19,282 17,306 11% 5,080 4,463 14%
India 14,857 13,932 7% 3,740 3,427 9%
Europe 14,275 15,070 -5% 3,628 4,183 -13%
Asia Pacific & CIS (Excl. India) 9,310 7,588 23% 2,688 2,278 18%
Rest of the World 9,713 8,618 13% 2,580 2,457 5%
Active Pharmaceutical Ingredients (API) and Other 5,069 4,413 15% 1,379 1,143 21%
Global Sales 72,507 66,927 8% 19,096 17,951 6%
Key Financial & Operational Highlights for Q4’08
 Consolidated Revenue at Rs. 19,096 Mn, growth of 6% (USD 387 Mn)

 Sales in Emerging markets were Rs 10,228 Mn (USD 207 Mn), contributed 54% to total revenue,
growth of 7%
 Sales in Developed markets were Rs 7,489 Mn (USD 152 Mn), contributed 39% to total revenue,
growth of 4%
 EBITDA was Rs. (1,085) Mn (USD (32) Mn)
 During Q4’08, as mentioned earlier, the Company adopted AS30. As a result of this, change in
fair valuation during Q4’08 of forex options taken by the Company, to safeguard its receivables,
is accounted for in the P&L
 Net Income for the period was Rs. (6,798) Mn (USD (142) Mn)
 Loss account of exceptional items (including Mark-to-Market losses on fair value of derivatives)
was Rs. (7,843) Mn (USD (161) Mn)
(Rs. Million)
Particulars FY 2008 FY 2007 Change Q4 2008 Q4 2007 Change
Sales 72,507 66,927 8.3% 19,096 17,951 6.4%
EBITDA 6,168 9,467 -34.9% (1,085) 2,977 –
EBITDA Margin 8.5% 14.1% -5.7% 16.6%
Profit after Tax (9,146) 7,866 – (6,798) 1,878 –
Speaking on the occasion, Malvinder Mohan Singh, Chairman, CEO and MD, Ranbaxy
Laboratories Limited, said, “The past year has been a significant one. We saw ourselves,
redefining paradigms in the pharmaceutical space through the alliance we reached with Daiichi
Sankyo which will strengthen both companies and unleash tremendous growth opportunities for
them. We also settled ongoing and potential patent litigations bringing visibility to multiple first-
to-file opportunities in the US over several years to come. However, we also faced hurdles like
the USFDA Import Alert and unprecedented forex volatility following an unforeseen global
financial crisis. Through several path-breaking initiatives we have secured a future of high
growth for the Company while we are focused on resolving the ongoing issues that have
adversely impacted us this year.”
Year ended December 31, 2008
For the year, the Company recorded Sales of Rs. 72,507 Mn (USD 1,667 Mn), registering a
growth of 8%. EBITDA was Rs. 6,168 Mn (USD 142 Mn). Net income for the year was Rs
(9,146) Mn (USD (198) Mn). Loss on account of exceptional items (including provisions on
inventories, Mark-to-Market losses on fair value of derivatives) was Rs. (9,389) Mn (USD (196)
Mn).
Quarter ended December 31, 2008 (Q4’08)
For the quarter ended December 31, 2008, the Company achieved Sales of Rs. 19,096 Mn (USD
387 Mn), registering a growth of 6%. EBITDA was Rs.(1,085) Mn (USD (32) Mn). Net income
for the Quarter was Rs (6,798) Mn. Loss account of exceptional items (Mark-to-Market losses on
fair value of derivatives) was Rs. (7,843) Mn (USD (161) Mn).
Global Sales
Global sales in 2008 recorded a growth of 8% at Rs 72,507 Mn (USD 1,667 Mn), while for the
Quarter, sales were at Rs 19,096 Mn (USD 387 Mn), an increase of 6%. The Company’s sales
maintained a skew towards more profitable, branded emerging markets, which contributed 54%
to the annual sales recording a growth of 9% over 2007. Contribution of developed markets to
global sales stood at 39% and grew by 7%. Key businesses amongst those that showed growth
were CIS, Canada, Brazil, Consumer Healthcare, API and several countries in South East Asia
and Latin America.
Dosage form sales for the year stood at Rs 67,437 Mn (USD 1,550 Mn) contributing 93% to
global sales. For the Quarter, dosage form sales were Rs 17,717 Mn (USD 359 Mn).
North America
Sales in the North America region comprising USA & Canada were Rs. 19,282 Mn for the year,
recording a growth of 11% (USD 443 Mn). For Q4’08, sales were Rs. 5,080 Mn, a growth of
14% (USD 103 Mn).
USA
Capsules and Felodipine ER Tablets in the US which opened a new business channel for the
Company in this important market. Among the significant approvals the Company received
during the year was to manufacture and market Valganciclovir Hydrochloride Tablets on which,
Ranbaxy believes it has First-to-File status, thereby providing a potential of 180-days of
marketing exclusivity, offering a significant opportunity in the future.
USFDA update:
As earlier mentioned by the USFDA, all drugs manufactured by Ranbaxy have repeatedly tested
safe and effective with no adverse incidents reported. However, the Company is taking a series
of actions on the technical and regulatory side to address the Import Alert imposed by the
USFDA on two of the Company’s manufacturing facilities.
The Company retained the services of former New York City Mayor Rudy Giuliani and Giuliani
Partners to review the issues and provide advice on USFDA related matters.
Canada: grew by 97% during the full year and recorded sales of Rs 2,359 Mn (USD 54 Mn).
Sales for the Quarter were Rs 670 Mn (USD 14 Mn), growth of 88% over the corresponding
previous period. The strong performance in Canada was led by Rabeprazole and Pantoprazole,
both new products launched earlier this year.
Europe
Europe (including Romania) recorded Sales of Rs. 14,275 Mn for the full year, a de-growth of
5% (USD 328 Mn). Sales for the Quarter were Rs. 3,628 Mn, a de-growth of 13% (USD 73 Mn).
Sales in the region were impacted due to difficult market conditions that continue to prevail in
several markets and impact of currency devaluation in some key countries.
Performance in the Key European markets:
Romania
Recorded sales of Rs. 4,644 Mn (USD 107 Mn), a de-growth of 7% for the full year and Rs.
1,108 Mn (USD 22 Mn) for the Quarter, de-growth of 11%. During the period Jan-Oct 2008, the
Company’s sales grew faster than the Generic+OTC market (12.8% versus 9.9%; IMS). Ranbaxy
is currently the largest pharma company in Romania in the generic segment with 12% market
share.
UK
Recorded sales of Rs 1,637 Mn (USD 38 Mn) during the year reflecting de-growth of 16% over
the previous year. Q4’08 sales at Rs 405 Mn (USD 8 Mn) were 13% lower than corresponding
previous quarter. Sales have declined due to continuing competitive and pricing pressures. The
Company also had a “day-1” launch during the year. The UK SFO prosecution of Ranbaxy’s UK
subsidiary was quashed by the English Crown Court during the year.
France
Recorded sales of Rs 2,690 Mn (USD 62 Mn) de-growing by 11% for the full year and Rs 821
Mn (USD 17 Mn) for the Quarter, de-growth of 23%. De-growth was on account of difficult
market conditions prevailing in the market. The Company launched three products on “day-1” in
France.
Germany
Recorded sales of Rs 1,635 Mn (USD 38 Mn) for the year de-growing by 19%. Sales for the
Quarter were Rs 406 Mn (USD 8 Mn), de-growth of 36% over the corresponding previous
period. There were four launches during the year including one “day-1”.
Rest of Europe
Recorded sales of Rs 3,669 Mn (USD 84 Mn) for the year, a healthy growth of 20%. Sales for
Q4’08 were Rs 888 Mn, growth of 14%. Several new product introductions were made across
markets e.g., seven in Benelux, 11 in the Nordics, three in the Baltics and one in Hungary.
Asia, Middle East & CIS
Sales in Asia, Middle East & CIS region grew by 12% for the year to reach Rs 23,156 Mn (USD
532 Mn). Sales for Q4 were Rs 6,021 Mn, a growth of 10%.
India (excluding Global Consumer Healthcare)
Ranbaxy’s domestic business grew by 14% against market growth of 10% (Nov’08 MAT – ORG
IMS). During the third quarter (Sep-Nov’08), Ranbaxy garnered 4.92% market share (5.08% on
MAT basis). The Company maintained its strong leadership position and is currently ranked
number 2 in the Indian pharmaceutical market.
 Contribution of Chronic therapy portfolio to total sales stood at 24.6% (Nov’08 YTD) against
23.7% over corresponding period last year
 Penems portfolio captured 19.4% share in the segment (Nov’08 MAT)
 The Company continues to lead anti-infective therapy with 10.9% share for the YTD Nov’08
period
 The Company has 19 brands in the top 300 products in the industry; five in the top 30 and 10 in
the top 100.
During the year, Ranbaxy licensed in or received approval, for the first time in India of certain
innovative and differentiated products such as Inersan (patented probiotic; dental), Bonista
(parathyroid hormone; osteoporosis) and Gliadel® Wafer (implant; oncology).
CIS (Russia and Ukraine Belt)
Sales in the region were Rs 4,846 Mn (USD 111 Mn) reflecting growth of 31%. Sales for Q4’08
were 1,458 Mn (USD 30 Mn), growth of 19% over corresponding previous period. Russia
recorded sales of Rs 2,946 Mn (USD 68 Mn) for the year, growth of 38% and Rs 924 Mn during
the Quarter (USD 19) Mn, growth of 24%. Sales in Ukraine during the year were Rs 1,900 (USD
44 Mn), growth of 22%, while sales during the Quarter were Rs 534 Mn (USD 11 Mn), a growth
of 12% over the corresponding previous period.
Asia Pacific
The region recorded sales of Rs 4,255 Mn (USD 98 Mn) during the year, growth of 15% over
year 2007. Sales for the Quarter were Rs 1,174 Mn (USD 24 Mn) growth of 15% over the
corresponding previous period. Several countries in the region contributed to the growth in sales
in the region including Japan, Thailand, Australia and China.
Africa
The region recorded full year sales of Rs 5,626 Mn (USD 129 Mn), growth of 8% over previous
year and Rs 1,678 Mn (USD 35 Mn) for Q4’08, growth of 14% over corresponding previous
period. Full year Sales in South Africa were Rs 2,380 Mn (USD 55 Mn), growth of 8%, while
Q4’08 sales were Rs 684 Mn (USD 14 Mn), growth of 9%. Nigeria recorded a buoyant growth
of 45% during the year to Rs 1,324 Mn (USD 30 Mn).
Latin America
Brazil: recorded sales for the full year at Rs 2,145 Mn (USD 49 Mn), a growth of 32% over 2007
and for the Quarter, sales were Rs 464 Mn (USD 9 Mn), growth of 3%. The market grew 24%
(MAT Oct’08) while Ranbaxy grew 47% during the same period. The Company is currently
ranked 6th in the generic market and has improved its market share to 4.1% from 3.5%.
Mexico recorded sales for the full year at Rs 358 Mn (USD 8 Mn), de-growth of 22%. Rest of
Latin America recorded sales for the full year at Rs 694 Mn (USD 16 Mn), exhibiting a growth
of 19%. Majority of the markets in the region showed upward trend.
Global Consumer Healthcare
Ranbaxy’s Global Consumer Healthcare (RGCH) business recorded sales of Rs 1,899 Mn (USD
44 Mn), growth of 25% for the year 2008. For the Quarter, the business grew by 33%, registering
sales of Rs 583 Mn (USD 12 Mn). Market share of Revital increased to 86 % and Volini
captured a market share of 31%. Revital is ranked 15th in the Indian pharmaceutical market.

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Financial Press Releases

Ranbaxy Q1 FY 2015 (Apr’14-Jun’14) Sales

Growth registered in Base business profitability

Key Financial Highlights

 Consolidated Sales were Rs.23.7 Bn [Apr-June 2013: Sales Rs.25.8 Bn].

Key Highlights/ Developments

Business and Financial

Regulatory, Research & Development and Manufacturing

About Ranbaxy Laboratories Limited

Ranbaxy Laboratories Limited is an integrated, research based, international pharmaceutical

Ranbaxy Q1 CY 2013 Sales Rs.24,398 Mn.

Focus continues in branded markets and differentiated products

Key Financial Highlights

Key Highlights/ Developments

Regulatory, Research & Development and Manufacturing

Ranbaxy Laboratories Limited, India’s largest pharmaceutical company, is an integrated,

Key Financial Highlights

Financial Performance for YTD ended June 30, 2013 (H1’13)

 Consolidated sales were Rs.50,730 Mn [H1’12: Sales Rs.69,136 Mn].

The macroeconomic environment continued to be challenging in certain countries in Western

Key Highlights/ Developments

Regulatory, Research & Development and Manufacturing

Ranbaxy Laboratories Limited, India’s largest pharmaceutical company, is an integrated,

Key Financial Highlights

Key Highlights/ Developments

Regulatory, Research & Development and Manufacturing

Outlook for 2013:

About Ranbaxy Laboratories Limited

Ranbaxy Laboratories Limited, India’s largest pharmaceutical company, is an integrated,

Base business grows by 10%+ QoQ and on YTD basis

Key Financial Highlights

 Consolidated Sales were Rs.28.6 Bn [Q4’12: Sales Rs.26.7 Bn].

Key Highlights/ Developments

Regulatory, Research & Development and Manufacturing

Ranbaxy Laboratories Limited is an integrated, research based, international pharmaceutical

Growth registered in Base business sales and EBITDA

Key Financial Highlights

Key Highlights/ Developments

Business and Financial

Regulatory, Research & Development and Manufacturing

Ranbaxy Laboratories Limited is an integrated, research based, international pharmaceutical

Growth % is calculated at constant forex, unless mentioned otherwise

Key Financial Highlights

Business and Financial

Regulatory, Research & Development and Manufacturing

About Ranbaxy Laboratories Limited

Ranbaxy Laboratories Limited, India’s largest pharmaceutical company, is an integrated,

Key Financial Highlights

 Sales and profitability improved over the corresponding period.

About Ranbaxy Laboratories Limited

Ranbaxy Laboratories Limited, India’s largest pharmaceutical company, is an integrated,

EBITDA margin 16%; Sales growth of 31%

EBITDA margin 19%; Sales growth of 53%

Gurgaon, India, November 08, 2012

Key Financial Highlights

Business Highlights Q3, 2012

 The Company maintained leadership in Atorvastatin and Atorvastatin + Amlodipine post

Regulatory, Research & Development and Manufacturing

Ranbaxy Laboratories Limited, India’s largest pharmaceutical company, is an integrated,

Q4 CY 2012 Sales Rs.26,708 Mn

CY 2012 Sales Rs.123 Bn, EBITDA Rs.18,227 Mn

Key Financial Highlights