Zydus Cadila achieved impressive financial performance during the first quarter ended June 2006 mainly due to growth in formulations. The company's consolidated net profit went up by 71 per cent to Rs 58 crore from Rs 34 crore in the corresponding period of last year. Its total income increased by 21 per cent to Rs 451 crore from Rs 373 crore. The exports of formulations went up by 131 per cent and that of API's increased by 24 per cent.
Cadila's subsidiaries in France and US registered a strong performance. Zydus France SAS registered 68 per cent growth in sales for the quarter under review. The company filed 2 additional site transfer applications with French regulatory authority AFSSAPS and received one site transfer approval this quarter. The French subsidiary currently markets 80 generics presentations.
In US, Cadila posted sales of Rs 27 crore during the quarter ended June 2006 and operations were further strengthened with the launch of Warfain and Meloxicam tablets. The group filed 3 more ANDAs this quarter taking the total to 39 ANDA filings. It has received 16 product approvals so far and 23 are pending approvals.
The work on the new manufacturing facilities of join venture companies. Zydus Mayne Oncology Pvt Ltd and BSV Pharma Pvt Ltd, are also progressing as per schedule.
Cadila singed three new contacts during the quarter for contract manufacturing with international companies, taking the cumulative number of contracts signed to 14 with peak revenue potential of US $24.24 million. Its New Molecular Entity (NME) ZY H1 for dyslipidemia is in phase II clinical trials. ZY I1 for treating pain and ZY H2 for treating diabetes, are in phase 1 clinical trials and ZY 01 for treating obesity is in pre-clinical development.