Laurus Labs's 2nd-quarter profit jumps 126% to ₹441 cr
Laurus Labs just posted a massive 126% jump in second-quarter profit, hitting ₹441 crore, more than double last year's number.
This boost comes from strong sales, with revenue up 33% to ₹2,206 crore.
The company said the results reflected the strength of its CDMO platform and Affordable Medicines portfolio.
Laurus Labs proposes Galenvs Sciences investment
Founder & Chief Executive Officer Satyanarayana Chava says the company's focus on innovation is paying off.
On top of the great numbers, Laurus Labs is also buying a 60% stake in Canadian biotech firm Galenvs Sciences at a pre-money valuation of $3.5 million. The proposed investment is $3.75 million.
The goal? To strengthen Laurus's expertise in cutting-edge areas like oligonucleotides and magnetic nanoparticles, basically upping its game in next-generation medicine development.