Cadila Healthcare, a Ahmedabad based 1250-cr pharmaceutical major, achieved impressive performance during the third quarter ended December 2006. The company's consolidated net profit has taken quantum jump of 66.4 per cent to Rs 65.90 crore from Rs 39.6 crore in the corresponding period of last year. Its consolidated net sales moved up by 28.7 per cent to Rs 492 crore from Rs 383 crore. The income growth was mainly driven by a growth of 105.2 per cent in formulation and 45 per cent in APIs.
During the quarter, the company's subsidiaries in France and US registered a strong performance. Zydus France SAS, which currently markets 85 generic presentations registered 188.3 per cent growth in sales for the quarter. In US, the company posted sales of Rs 38.6 crore during the quarter. The group filed three more ANDAs taking the total to 44 ANDAs. The group received approvals for Zonisamide capsules and Simvastatin tablets taking the cumulative to 18 approvals, of which eight products have been launched so far.
The company filed its fourth IND (Investigational New Drug) application for its New Molelcular Entity - ZYO1 for the treatment of obesity with the Drug Controller General of India. Besides this, it signed three new contracts for contract manufacturing with international companies during the quarter. The company now has a total 20 contracts with peak revenue potential of US$ 27.5 million.
The company's net sales on standalone basis increased by 12.3 per cent to Rs 354.4 crore during the third quarter ended December 2006 from Rs 315.6 crore in the corresponding period of last year. Its standalone net profit moved up by 24.4 per cent to Rs 52.5 crore from Rs 42.9 crore with EPS of Rs 4.18 on enhanced equity capital of Rs 62.80 crore.