TOKYO -(Dow Jones)- Daiichi Sankyo Co. Ltd. (4568.TO) said Monday its net profit grew by 34% in the October-December quarter, supported by contributions from its Indian generic drug unit Ranbaxy Laboratories Ltd. (500359.BY) and strong global sales of its blood pressure drug.

Japan's second largest pharmaceutical maker by sales said its net profit rose to Y27.5 billion from Y20.6 billion in the same period in the previous year, while revenue slipped 2.3% to Y249.2 billion from Y255.1 billion.

For the fiscal year through March, the Tokyo-based company raised its net profit guidance to Y70 billion from Y55 billion, citing cost reduction measures.

Daiichi Sankyo reports its earnings based on Japanese accounting standards.

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