Cadila Healthcare, a Rs 3,550 crore Ahmedabad-based pharma major, has reported impressive performance during the year ended March 2010 on account of growth in formulation and APIs exports. The company's consolidated net profit has taken strong jump of 67 per cent to Rs 505.14 crore from Rs 303.08 crore in the previous year. With strong growth, the company management recommended equity dividend of 100 per cent on an enlarged share capital base after the bonus issue in the ratio of 1:2. The earning per share worked out to Rs 36.87 after considering enhanced equity capital as against Rs 19.48 in the last year.
The company's consolidated net sales increased by 23.9 per cent to Rs 3614.23 crore from Rs 2917.15 crore. This growth was driven by 45 per cent growth in formulation exports, 28 per cent growth in APIs exports and 37 per cent growth in consumer business. The growth in formulations exports was buoyed by 69 per cent growth in sales in the US market, 31 per cent growth in the EU market.
Cadila's other income increased by 50.5 per cent to Rs 128.58 crore during 2009-10 from Rs 85.45 crore. Its interest burden declined to Rs 80.92 crore from Rs 97.78 crore. Its profit before adjustment in respect of foreign exchange gains or loss and other worked out to Rs 30.56 crore as against Rs 46.88 in the last year. As against the equity capital of Rs 68.24 crore, its reserves moved up to Rs 1560 crore from RS 1167 crore in the last year.
The group emerged as the leading supplier of the API Clopidogrel Besylate in the EU. To meet the increasing demand the group set up a new chemical facility for Clopiidogrel at Dabhasa within a short span of 8 months. Zyfine, the fine chemicals unit which offers services in the high potency actives area, became the first in India to receive the US FDA approval.
Its formulation business in India increased by 12 per cent in 2009-10. It launched more than 30 new products and similar number of line extensions. 17 of the new product launches were first-in-India. During the year, it strengthened its position in the cardiovascular segment with the launch of a new division 'Zydus Cardiva”. The company commenced clinical trials of its H1N1 vaccine. Multi-centric trials have been conducted at Ahmedabad, Bangalore, Jaipur and Pune and the company is expecting to launch the vaccine after the necessary approvals are in place.
The group filed 14 ANDAs taking the total to 106 ANDA filings. The group also filed 14 DMFs during the year, taking the cumulative number of 90 DMFs. It received 12 ANDA approvals during the year 2009-10 taking the total to 54 product approvals. The company filed 35 additional dossiers for new products in the European markets, including 22 for Spanish market, taking cumulative number of new product dossier filings to 89. It filed nine dossiers in South Africa and 14 dossiers in Brazil.
The company filed its seventh IND ZYD1, a novel GLP-1 in the class of anti-diabetic agents agonist molecule, with DCGI as well as the US FDA. A novel candidate known as incretin mimetics, ZYD1 has displayed a better efficacy and safety profile. ZYH1, the lead molecules for Dyslipidemia has entered Phase III clinical trials. The collaborative research programme with Karo Bio, Sweden has generated a series of novel dissociated non-steroidal glucocorticoid agonist lead compounds, within just a year.