Ranbaxy has reported a strong set of financials for the third quarter but concerns remain about the US import ban that is still in place on many of the firm's generics.

Net income soared to 3.13 billion rupees, or around $67 million, for the third quarter, up from 1.17 billion rupees in the like, year-earlier period. Sales climbed 13% to 18.87 billion rupees, driven by a more-than-70% increase in turnover from North America to 4.91 billion rupees. The latter was boosted by the continued success of Ranbaxy's generic version of GlaxoSmithKline’s herpes drug,Valtrex (valacyclovir), despite losing exclusivity.

Sales in Europe were down 5% to 2.77 billion rupees, while in India, revenues climbed 18% to 4.93 billion rupees. Ranbaxy, which is majority-owned by Japan's Daiichi Sankyo, added that it made 37 filings and received 47 approvals for dosage forms during the quarter.

However, observers are still worried about the situation in the USA. Over two years ago, an import ban was placed on 30 of Ranbaxy’s generics over manufacturing violations at its Dewas and Paonta Sahib facilities.

The Gurgaon-based firm says it is “co-operating fully with the US Food and Drug Administration and the Department of Justice for early and comprehensive resolution of all outstanding issues”. The company claimed that it has put in place "enhanced systems and processes in upgrading its manufacturing and R&D facilities," making it "pro-actively compliant for inspection by regulators".

Arun Sawhney, managing director at Ranbaxy, added that much of the firm's focus will be on "seeking a speedy resolution to the challenges in the USA", although two years down the line, no timescale has been given. Aside from this, he noted that "our key markets continued to perform well... aided by the favourable forex movement" and the plan now is to look at "bettering operational performance [and] maximising synergies with Daiichi Sankyo".