Cadila Healthcare, a Rs. 5,100 crore plus pharmaceutical major from Ahmedabad, has suffered setback during the first quarter ended June 2012 on account of significant rise in interest and tax burden. Its net profit declined by 15.2 per cent to Rs. 194.79 crore from Rs. 229.82 crore in the corresponding period of last year. Its interest cost went up to Rs. 45.39 crore from Rs. 11.15 crore and tax provision to Rs. 65.37 crore from Rs. 28.54 crore. Its EBDITA improved by 15 per cent to Rs. 355.12 crore from Rs. 208.70 crore.
The company's consolidated net sales increased by 30.1 per cent to Rs. 1546.64 crore from Rs. 1188.90 crore in the similar period of last year. The domestic formulations sales went up by 27 per cent to Rs. 582 crore. It launched 30 new products, including line extensions, of which 10 products were the first to be launched in India. Its US revenues moved up 50 per cent and the same in Brazil increased by 37 per cent. Exports to the emerging markets grew by 84 per cent.
With the recent approval from the US FDA for its facility at Moraiya, the company expects to start getting new product approvals, which will further strengthen its US business. It launched 3 products in Japan including one day-1 launch. All three products have been developed and manufactured in India.
Cadila filed 9 ANDAs including 2 for injectible products, taking the cumulative number of US ANDA filings to 157. It also filed 5 DMFs, taking the cumulative filings to 112 DMFs. Further, during the quarter ended June 2012, Cadila filed 11 new product dossiers and received 4 new product approvals for the European market, taking the cumulative approvals to 147 approvals. It also filed 5 additional dossiers for the Brazilian market with the regulatory authority ANVISA and 3 additional dossiers with the regulatory authority COFEPRIS for Mexico.