Cadila Healthcare, a Ahmedabad based pharma giant, has reported satisfactory performance during the year second quarter ended September 2007 with strong growth in exports. The company's consolidated income went up by 28 per cent to Rs 610 crore from Rs 475 crore in the corresponding quarter of last year. Its net profit increased by 14 per cent to Rs 80 crore from Rs 71 crore. The income growth was mainly driven by 122 per cent growth in formulation exports and growth of 37 per cent in consumer business.
During the quarter, the company's subsidiaries in France and US registered a strong performance. Zydus France SAS, which currently markets over 100 generic presentations, registered 38 per cent growth in sales. The company filed three dossiers for new products and 9 additional site transfer application with the French regulatory authority AFSSAPS.
In the US , the company's sales grew by 123 per cent and it launched 3 new products viz., Benzonatate Capsules, Carvedilol Tablets and Amlodipine Besylate Tablets. The group filed 2 additional DMFs and 4 more ANDAs this quarter taking the total to 55 DMFs and 66 ANDAs filings, of with 30 have been approved so far. The company also filed its 5th IND 'ZYH7' - a novel drug candidate for treating dyslipidemia and metabolic disorders.
The company's standalone net sales during the quarter under review increased by 17.1 per cent to Rs 447.40 crore from Rs 382 crore in the quarter ended September 2006. The net profit also increased by 8.9 per cent to Rs 71.30 crore from Rs 65.50 crore. The earning per share worked out to Rs 5.68 as against Rs 5.21 in the last period.