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Financial Report: Jubilant Life Sciences

Revenue in the quarter up 25%, but earnings fall on INR-USD currency movement

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By: Tim Wright

Editor-in-Chief, Contract Pharma

Jubilant Life Sciences

3Q Revenues: $219.8 million (+25%)

3Q Loss: $15.8 million (earnings were $9.4 million 3Q10)

YTD Revenues: $622.9 million (+21%)

YTD Earnings: $15.8 million (-56%)

Comments: International business grew 28% in the quarter, contributing 71% to sales at $155.1 million. Sales from Regulated Markets of U.S., Canada, Europe and Japan were $128.4 million (+43%), accounting for 58% of sales. YTD International business accounted for $435.0 million (+22%), contributing 70% to sales. Regulated Markets accounted for $359.6 million (+33%), contributing 58% to sales. In the quarter revenues from Life Science Products were $175.3 million (+24%) and YTD were $493.3 million (+23%). Life Science Services revenue was $44.5 million in the quarter (+32%) and $129.4 million YTD (+15%). CMO revenue, which includes the Jubilant HollisterStier business, was up 18% at $93.4 and Drug Discovery and Development Solutions reported $34.2 million in sales, up 9%. Earnings for the quarter fell because of a $31 million charge related to currency movement between the rupee and the dollar.

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