Cadila Healthcare, a Rs 2860 crore plus pharma giant, has reported strong performance mainly due to formulation exports in US and Europe during the quarter ended December 2009. The company's consolidated net sales increased by 31 per cent to Rs 993 crore from Rs 761 crore in the similar period of last year. Its net profit went up smartly by 114 per cent to Rs 130 crore from Rs 61 crore. The earnings per share worked out to Rs 9.59 as compared to Rs 4.43 in the last period.
During the quarter under review, its formulation exported registered a growth of 45 per cent. In the US, the company posted sales of Rs 178 crore, up by 67 per cent. In Europe, it registered sales of Rs 104 crore, representing a growth of 32 per cent. Consumer wellness business grew by 42 per cent, while API exports grew by 26 per cent. Its Indian formulations business grew by 17 per cent. The group launched 24 new products including line extensions in the domestic market. Of these 10 were the first in India launches.
During the quarter, the group acquired balance 30 per cent shares in Simayla Pharmaceuticals, making it a 100 per cent subsidiary in South Africa. The company commenced the clinical trials of H1N1 vaccine and is likely to launch the product after successful completion of trials in April 2010. The company filed 4 more ANDAs and 3 additional US DMFs, taking the total to 99 ANDA filings and 85 DMFs. The group has received 52 product approvals so far for US market.
For the first nine months ended December 2009, Cadila's net sales improved by 27.7 per cent to Rs 2758 crore from Rs 2160 crore. Its net profit 57.7 per cent to Rs 386.38 crore from Rs 245.05 crore in the corresponding period of last year.