Cadila Healthcare, a Rs 3600 crore plus pharma giant from Ahmedabad, has recorded all-round growth in financial performance during the first quarter ended June 2010 on account of strong growth in US operations. Its consolidated net profit has taken a quantum jump if 59.6 per cent and touched to Rs 199.18 crore from Rs 124.79 crore in the corresponding period of last year. Its consolidated net sales increased by 19.9 per cent to Rs 1055.09 crore from Rs 880.31 crore. With handsome growth in profits, its earnings per share moved up to Rs 9.73 from Rs 6.09 in the last period.
The company's other income went up by over 238 per cent to Rs 78.69 crore from Rs 23.23 crore in the similar quarter of last year. Its staff cost increased by 24.6 per cent to Rs 127.67 crore from Rs 102.46 crore. The company has shown a foreign exchange gain of Rs 91.5 crore as against a loss of Rs 4 crore in the corresponding period of last year. Its EBDITA worked out to Rs 300.22 crore as compared toRs 207.95 crore, a growth of 44.4 per cent.
Its sales in US improved by 51 per cent to Rs 223 crore. The group also announced the first day launch of Anasterazole tablets. Tamsulosin caps and famotidine suspension in the US market. API exports registered a growth of 75 per cent. Its Indian formulations business posted health growth of 17 per cent with the launch of 30 new products, including line extension,s of which 8 were for the first time in India.
During the quarter, Zydus Cadila launched India's first H1N1 vaccine VaxiFlu-S. The launch marked the group's strategic intent to emerge as a leading player in the vaccine market. The group is setting up a new vaccine technology centre to develop a broad spectrum of vaccines against viral, bacterial and protozoal infections. The vaccine is being marketed by Zydus Vaxxicare. The group also launched new speciality divisions – Zydus heptiza and Gynova to focus on hepatitis related therapies and gynaecology related therapies.
The Zydus Cadila group filed 7 ANDAs, taking the cumulative number of US ANDA filings to 113. The total number of ANDA approvals now stands at 56. The group also filed 2 DMFs with US FDA, taking cumulative filings to 92 DMFs. It received 8 new product approvals for the European market, taking the cumulative approvals to 42 approvals.