Hyderabad, July 13: Riding high on Citalopram sales in the European markets, Matrix Laboratories has put forward impressive results for the FY03. The profits are up 12-fold at Rs 89.87 crore as against Rs 7.18 crore for the year before. The sales shot up to Rs 416.93 crore as against Rs 102.18 crore in the corresponding period previous year. The board of directors have recommended a dividend of Rs 5 per equity share of Rs 10 per share and the EPS worked out to Rs 73.74.

The company has allotted 25,79,435 equity shares of Rs 10 each to the members of erstwhile Medicorp Technologies India and Vorin Laboratories in terms of the scheme of amalgamation duly approved by High Courts of Andhra Pradesh and Tamil Nadu, according to the company’s press release issued here.
Citalopram, an anti-depressant drug, has a worldwide sales of $1.5 billion. Matrix is the sole Indian supplier of Citalopram to Alfred E Tieffenbacher (AET), the original marketing authorisation holder for generic pharmaceutical formulations containing active pharma ingredient Citalopram Hydro Bromide, in Europe. Bureau Report