The Hindu Business Line : Zydus Cadila full year net jumps 53%

Ahmedabad April 26 For the year ended March 31, 2007, the Ahmedabad-based pharma major Cadila Healthcare Ltd (Zydus Cadila) registered total operating income of Rs 1,829 crore, up 23 per cent from Rs 1,485 crore in the corresponding period last year on a consolidated basis.

Net profit for the corresponding period is up 53 per cent year-on-year to Rs 234 crore, a company release said here. Riding high on the back of a strong all round performance in all spheres of the business, the group's formulations exports (the US, France and ROW), active pharmaceutical ingredients (API) and consumer business touched new peaks. The topline growth was driven by 91 per cent growth in formulation exports, 31 per cent growth in API exports and 54 per cent growth in consumer business.

The growth in exports was buoyed by 186 per cent growth in sales in the US markets, 103 per cent growth in the French market, and 26 per cent growth in exports to other emerging markets.

The newly acquired Carnation Nutra Analogue Foods Ltd recorded sales of Rs 43 crore, while the existing consumer business grew by 23 per cent, with Sugar Free crossing Rs 50 crore in sales. The company crossed the $400-million mark in sales, a goal that it had set for itself in its vision in 2004.

Taking stock of the company's growth in operations, the board of directors has recommended a dividend of 80 per cent (Rs 4 per share of Rs 5 each) subject to approval by the shareholders at the AGM.

Global operations

In a significant move that will boost its global operations, Zydus Cadila made a foray in Japan, setting up Zydus Pharma Inc. The company recently acquired 100 per cent stake in Nippon Universal Pharmaceutical Ltd, a company with a ready manufacturing, marketing and distribution base, which will enable it to jumpstart its business.

The year 2006-07 also saw the company making a foray in the Rs 1,500-crore derma market with the acquisition of Liva Healthcare, a Mumbai-based company with a strong focus on the derma segment. The company launched 39 new products during the year in the domestic pharma market.

Drug filings & research

Strengthening its regulatory pipeline, the company filed 26 abbreviated new drug applications (ANDAs) and 11 drug master files (DMFs) during the year taking the cumulative to 60 ANDA filings and 51 DMFs. It has so far received 23 ANDA approvals. The company filed 15 dossiers for new products and 21 site transfer applications for French market during the year.

Making progress in its research programme, the company's NME ZYI1 to treat pain and inflammation has completed Phase-I trials and ZY H2 to treat diabetes has entered Phase-I clinical trials. The group's Global Contract Manufacturing Cell signed 12 more contracts during the year with a peak revenue potential of $10.3 million. With this, the cumulative number of contracts signed stands at 23, with peak revenue potential of $33.9 million.

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