World Business Briefing | ASIA: India: Profit Doubles at Drug Maker
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The Indian pharmaceutical company Ranbaxy Laboratories said its profit in the latest quarter more than doubled from a year ago, helped by robust sales in Europe and huge gains in foreign exchange transactions. Net profit at Ranbaxy rose to 2.66 billion rupees ($65 million), from 1.22 billion rupees ($29 million) in the quarter a year earlier. The growth rate, however, drops to 53 percent if the earnings numbers are adjusted against about 1 billion rupees in net gains the company made from foreign exchange transactions, said Malvinder Singh, the chief executive. More than half of Ranbaxyâs sales come from overseas markets other than the United States. Sales rose 12.3 percent, to 16.24 billion rupees ($395 million).
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Pfizer Inc., the world&#39;s biggest drugmaker, said Wednesday third-quarter earnings rose on higher sales of key medicines. The New York based company said it earned $3.
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The drugmaker posted third-quarter net income of $1.53 billion as revenues increased by double digits, while lower  costs offset more spending on research and development.
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Merck & Co. on Monday said second-quarter earnings rose on higher sales of its new vaccines and medicines, and the company raised its 2007 profit forecast amid continuing strong demand for the medicines.
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Microsoft Corp. , the world's largest software maker, on Thursday reported that its quarterly profit doubled on stronger demand for personal computers and video games as well as lower costs.
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Genentech Inc.  said second-quarter profit on Wednesday rose 41 percent, fueled by cost cutting and growth from its cancer drug Avastin.
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BASEL, Switzerland  - Net profits at Novartis AG  rose by a lower-than-expected 15 percent last year as  restructuring costs weighed, the company reported on Thursday,  but the world's sixth biggest drugmaker said it expects record  sales and profits in 2005.
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ATI Technologies Inc., the world&#39;s No. 2 maker of computer-graphics chips, said fourth-quarter profit more than doubled on surging demand for components used in digital televisions and mobile phones with color screens.
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The world&#39;s biggest mining group, BHP Billiton, says its second-half net profit has more than doubled on strong demand for industrial raw materials and forecast sustained high prices for commodities.
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CME Group Inc , parent of the world's largest derivatives exchange, said on Tuesday quarterly profit nearly doubled, driven by strong volume growth.
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The chemical giant reported second-quarter earnings similar to year-ago results as higher sales were offset by the cost of energy and accelerated biotech research.
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Pfizer Inc , the world's  biggest drug maker, on Wednesday reported fourth-quarter  results that beat expectations, sending its shares higher in  premarket trading.
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Abbott Laboratories Inc. ABT.N on  Tuesday said its fourth-quarter profit rose 3.2 percent, helped  by surging sales of two arthritis drugs, including one that  many doctors now deem safer than newer treatments such as  Pfizer Inc.'s Celebrex.
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Sun Microsystems Inc ,  the world's fourth-largest server-computer maker, said on  Thursday that quarterly profit doubled amid strong growth in  emerging markets.
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Microsoft, the world's largest maker of computer software, reports a doubling of quarterly profits.
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The biotechnology company reported fourth-quarter net income of $201.2 million on strong sales of its two leading drugs, Rituxan and Avonex.
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Pfizer Inc , the world's  biggest drugmaker, on Wednesday reported fourth-quarter results  that beat expectations.