Taro Pharma net sales rise in Q2

Net sales rise slightly to $97.97m, while gross profits fall to $56.6m

Taro Pharmaceutical has reported net sales of $97.97m for the second quarter ended 30 June 2010, compared to $96.82m for the comparable period in 2009.

Taro has posted a net income of $18.93m for the second quarter 2010, or $0.46 per diluted share, compared to net income of $12.49m, or $0.31 per diluted share, for the comparable period in 2009.

Operating income for the second quarter ended 30 June 2010 was $19.88m, compared to $20.63m for the comparable period in 2009.

Gross profit for the second quarter was $56.6m, or 58% of net sales, compared to $57.9m, or 60% of net sales for the second quarter of 2009.

The second quarter of 2009 was particularly robust as a result of the introduction of new products and pipeline fill.

Taro is a multinational, science-based pharmaceutical company engaged in the discovery, development, manufacturing and marketing of healthcare products.