Cadila Healthcare, a Rs 2900 core Ahmedabad based pharma giant, has posted better performance during the year ended March 2009 despite difficult worldwide economic conditions. The company's net profit increased by 17.7 per cent to Rs 303.08 crore from Rs 257.59 crore in the previous year. Its net sales has taken quantum jump of 26.3 per cent and reached at Rs 2862 crore from Rs 2266 crore. The company recommended equity dividend of 90 per cent (Rs 4.50 per share of Rs 5 each) for the year 2008-09 on enlarged equity capital.
The top line growth was driven by 50 per cent jump in formulation exports, 34 per cent growth in API exports and 27 per cent growth in consumer business. The growth in formulations exports was buoyed by 55 per cent growth in sales in the US market, 32 per cent growth in Brazil market and 81 per cent growth in exports to other emerging markets.
The company filed 19 ANDAs and 14 DMFs during 2008-09 taking the cumulative to 92 ANDAs filings and 76 DMFs. It has so far received 43 ANDA approvals. It filed 15 dossiers for new products in the European markets. With this the number of cumulative filings for new products for European markets has reached 54. The group filed its sixth IND application for ZYTI - a novel lipid lowering molecule with the DCGI. It was also subsequently filed with the US FDA. The NME is currently in Phase 1 clinical trials.
The year 2008-09 was marked by strategic collaborations and forays into newer markets. The group signed a new drug discovery and development agreement with Eli Lilly and Company for a collaborative research programme. As part of the agreement, the group would receive potential milestone payments of up to US$ 300 million and royalties on sales upon the successful launch of any compounds derived from the research programme.
The year also witnessed the group's foray into Spain with the acquisition of Laboratorios Combix and also acquired majority stake of 70 per cent in Simayla Pharmaceuticals of South Africa, through its wholly owned subsidiary, Zydus Healthcare Sa PTY Ltd.
The company's equity capital increased to Rs 68.20 crore from Rs 62.80 crore. Its reserves & surplus went up by 16.8 per cent to Rs 1167 crore from Rs 999 crore in the 2007-08.