During the 3rd quarter ended December 31 2003, Zydus Cadila reported sales of Rs.286 crore, up by 14 per cent from Rs.251 crore in the same quarter of last year. While the domestic sales growth was 11 per cent compared to the same quarter in 2002-3, the total export growth was 117 per cent, an official release said.
The profit before tax (PBT) was up 38 per cent y-y to Rs.34 crore, from Rs.25crore last year. The net profit is Rs.30.6 crore, up 106 per cent y-y from Rs.14.8 crore in 3Q 2002-3.
During the quarter ended December 2003, the group launched Zydus Pharmaceuticals (USA) Inc as a part of its strategic initiatives to enter the generic formulations market in the USA. Starting its ANDA filings to the US FDA, the company filed two ANDAs. The company plans to file total 8 ANDAs during the current fiscal year. The group also has a total of 11 DMF filings at the end of the quarter.
During the quarter, the group launched critical care products Aggramed (Tirofiban) and Zyrova (Rosuvastatin) in the cardiovascular segment. The group also launched Samlodon (S-Amlodepine) an anti-hypertensive, further strengthening its cardiac care segment. German Remedies launched Diane 35 an innovator product of Schering AG. A unique hormonal combination, Diane 35 can be used as a contraceptive besides treating acne and hirsutism in women.
For the 9 months ended December 31 2003, the sales revenue was Rs.894 crore, up 15.5 per cent from Rs.774 crore in the corresponding 9 months of 2002-3.
PBIDT was up by 26 per cent y-y to Rs.187 crore, from Rs.148 crore last year. The net profit was Rs.97 crore, up 57 per cent y-y from Rs.62 crore in the corresponding period 2002-03.
For Zydus Altana, the 50 per cent JV with Altana Pharma, Germany, the year ended December 2003, has reported increase in sales turnover of 32 per cent to Rs.148 crore. The net profit also increased by a substantial 58 per cent to Rs.122 crore, from Rs.77 crore for the financial year 2002. Zydus Cadila has received a total dividend of Rs.30 crore from the JV in the 9 months ended December 2003, the release noted.