The 14% revenue growth last quarter was driven by biologics, which clocked a year-on-year increase of 31%. The 31% growth comes on a 136% jump in revenues in the year ago quarter. “We are very much looking forward to significant growth in coming quarters; (there is) huge opportunity to grow and (we are) well positioned to gain share," the management told analysts. Operating earnings grew only 18% despite a significant jump in the more profitable biologics revenues - up 31% last quarter. Remedial costs pertaining to a manufacturing plant weighed on operating earnings, the company told analysts.

Source: Mint January 24, 2020 09:22 UTC