Zydus Cadila's consolidated net profit for the third quarter ended December 2005 moved up by 36.1 per cent to Rs 39.6 crore from Rs 29.1 crore in the corresponding period of last year. Its total income improved by 17 per cent to Rs 382.2 crore.
The group has already surpassed the annual net profit for the entire year of 2004-05 within first nine months of 2005-06. The net profit for the nine months reached Rs 121.8 crore. Its formulation exports improved by 138 per cent on account of significant improvement in operations at the US and France, the key regulated markets, and high profile markets of Brazil and South Africa.
During the third quarter, the group received approvals for ribavirin capsules, promethazine tablets and tentative approval for gatifloxacin tablets from the US FDA. In all, Zydus Cadila has received ten generic approvals so far. The group's cumulative filings stand at 30 ANDAs and 35 DMFs. The company also received approval from the AFSSAPS, the French regulatory agency to market sertraline capsules in the French market.
The group filed its second IND (investigational new drug) application for its new molecular entity (NME) - ZYI 1 for the treatment of inflammatory disorders with the DCGI. During the quarter ended December 2005, the group entered into a 50:50 joint venture with Bharat Serums and Vaccines Ltd, one of the top ten biotech companies in India to develop, manufacture and market a non-infringing and proprietary NDDS of an approved anti-cancer product for the global markets.
The company signed three new contracts for contract manufacturing with international companies during the quarter. The company now has a total of 11 contracts with peak revenue potential of USD 23.43 million.