The Hindu Business Line : Zydus Cadila Q2 net up 47%

Pharmaceutical major Cadila Healthcare Ltd (Zydus Cadila) has reported a total income of Rs 475 crore in the second quarter of the current fiscal ended September 30, up 23 per cent from Rs 387 crore posted during the corresponding quarter of the previous fiscal on a consolidated basis.

The company in a press release said that its net profit in Q2 increased by 47 per cent to Rs 71 crore (Rs 48 crore), while its PBIDT was up by 34 per cent to Rs 109 crore (Rs 81 crore). The income growth was mainly driven by 97 per cent growth in formulation exports and API exports growth of 56 per cent.

Contract Manufacturing

During the quarter, the company's subsidiaries in France and the US registered a strong performance. Zydus France SAS, which currently markets over 85 generic presentations, registered 87 per cent growth in sales for the quarter. The company filed six dossiers for new products and six additional site transfer applications with the French regulatory authority AFSSAPS this quarter, the release said.

In the US, the company's sales grew by 352 per cent. The group filed two more ANDAs and five additional DMFs this quarter, taking the total to 41 ANDA filings and 45 DMFs. During the quarter, the group received approval for Meloxicam tablets taking the cumulative approvals to 17 of which seven products have been launched so far.

Moving ahead, the company has incorporated a subsidiary in Japan to market generic formulations and API in the Japanese market. The product registration process is expected to begin in 2007. The company has signed three more contracts this quarter for contract manufacturing with international companies.