Vista Pharmaceuticals (524711) Q4 99/00 earnings summary

Executive summary

• FY ended Mar. 31, 2000 revenue was Rs. 146.76 lakh, driven by US pharmaceutical exports of Rs. 146.34 lakh; net loss was Rs. 147.13 lakh.

• US export sales were projected at Rs. 200–220 lakh for FY2000-01; products for US and Latin American markets advanced through regulatory and development work.

Financial highlights

• Revenue rose to Rs. 146.76 lakh from Rs. 100.01 lakh; expenditure increased to Rs. 293.89 lakh from Rs. 137.82 lakh.

• Net loss widened to Rs. 147.13 lakh from Rs. 37.81 lakh; financial charges were Rs. 133.45 lakh versus Rs. 0.27 lakh.

• Accumulated losses reached Rs. 640.72 lakh, including preliminary expenses and prior-period adjustments; balance sheet total was Rs. 1,415.83 lakh.

Outlook and guidance

• FY2000-01 export sales projected at Rs. 200–220 lakh, versus FY1999-2000 exports of Rs. 146 lakh cited in the directors’ report.

• Generic drugs under evaluation could generate annual sales of Rs. 10–15 crore; development, bio-study and USFDA approval would require Rs. 2–3 crore and 2–3 years.

• Development priorities included US prescription products, controlled-release dosage forms, quality control and cost reduction.