Cadila Healthcare, a Rs.3,575 crore
Ahmedabad based pharma entity, has announced better growth rates in
respect of sales and profitability during the third quarter ended
December 2010. The company's consolidated net profit improved by 24.9
per cent to Rs.162.01 crore from Rs.129.67 crore in the corresponding period of last year. Its consolidated net sales went up by 17.5 per cent to Rs.1135 crore from Rs.965 crore. With better growth in profits, earnings per share worked out to Rs.7.91 as against Rs.6.33 in the last period.
The
net sales improved mainly due to 20 per cent growth in formulation
exports as well as 17 per cent growth in domestic formulation. Its
consumer wellness business was up by 21 per cent. Cadila launched 9 new
products in the domestic formulations market, which includes line
extensions and 'Ostigard 100' a first-in-India launch. The consumer
wellness business posted a top line growth of 21 per cent and a bottom
line growth of 37 per cent.
In the US, the company's sales grew
by 33 per cent and it launched 4 new products in the US. Out of this two
were Day 1 launches. The formulations business in Brazil grew by 33 per
cent and in Japan, the company posted a growth of 22 per cent. It
launched Rabeprazole and Glimeperide in Japan, both of which were Day 1
launches.
Cadila Group filed 3 ANDAs during the quarter taking
the total to 118 filings. Three addition US DMFs were filed this quarter
under review, taking the total filings to 96 US DMFs. For the European
markets, the group filed 4 dossiers for new products, taking the
cumulative filings to 102. The group received 15 new product approvals
for the Spanish market during the quarter.
On the research
front, Zyogi the novel GLP-1 agonist, designed and developed at the
Zydus Research Centre using a unique platform technology has completed
Phase I clinical trials and has shown favourable results.
For the first nine months ended December 2010, Cadila's consolidated net sales increased by 19.5 per cent to Rs.3296 crore from Rs.2758 crore in the similar period of last year. Its new profit has taken a quantum jump of 37.7 per cent and touched to Rs.532.03 crore from Rs.386.38 crore. Its EPS touched to Rs.25.98 as against Rs.18.87 in the last period.