Sun Pharmaceutical Industries Ltd , India's top drugmaker by market value, has raised its consolidated revenue growth outlook for the fiscal year ending March 2014 to 25 percent from 18 to 20 percent. The forecast was revised after taking into account the performance in the first half of the fiscal year, as well as risks associated with increased competition for some products, Sun said in a statement."The performance of all our businesses exceeded our plans. We continue to develop a differentiated and specialty driven product basket," Managing Director Dilip Shanghvi, who counts as India's third-richest person according to Forbes, said in the statement.The company reported late on Wednesday that September quarter consolidated profit more-than-quadrupled to 13.62 billion rupees ($214 million).Year-earlier profits, however, had included a provision of 5.84 billion rupees towards possible compensation in a patent dispute related to the drug Protonix. That dispute was settled with Pfizer Inc in June.
Pfizer Inc. (Pfizer) is a research-based, global biopharmaceutical company. Shares of PFE traded higher by 1.56% or $0.49/share to $31.87. In the past year, the shares have traded as low as $23.55 and as high as $31.60. On average, 25393900 shares of PFE exchange hands on a given day and today's volume is recorded at 27179902.
Source
