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Table 1 Summary of the 2010 annual reports of publicly traded Indian ARV manufacturers (*)

From: Antiretrovirals for low income countries: an analysis of the commercial viability of a highly competitive market

  CIPLA Ranbaxy (**) Strides Arcolab Aurobindo Total of 4 companies
Gross sales of goods (minus excise duty) 61,351   56,721   16,958   39,979   175,009  
Expenditure   % of expenditures   % of expenditures   % of expenditures   % of expenditures   % of expenditures
Material cost 28,604 54.1 21,709 46.2 8,508 52.4 23,286 76.9 82,107 56.1
Employee cost 4,642 8.8 7,761 16.5 2,249 13.8 3,036 10.0 17,688 12.1
Operating and other expenses 14,641 27.7 14,712 31.3 3,388 20.8 6,716 22.2 39,457 27.0
Research & Development Expenses 2,598 4.9        2,598 1.7
Interest 50 0.1 542 1.1 1,467 9.0 505 1.6 2,564 1.8
Depreciation and Amortization of goodwill 2,289 4.3 2,284 4.8 638 3.9    4,611 3.1
Total 52,824 100 47,018 100 16,250 100 30,291 100 146,383 100
   % of sales   % of sales   % of sales   % of sales   % of sales
Gross Profit before taxes 8,527 13.9 9,703 17.1 1,858 11.0 9,688 24.2 28,626 16.4
  1. (*) Amounts in million Rupees.
  2. (**) The expenditures of Ranbaxy exclude an extraordinary charge to account for future liabilities.