Cadila Healthcare, a Rs.4450 crore plus pharma major from Ahmedabad, has posted impressive financial performance during the year ended March 2011 on account of higher formulation export and domestic business, new products launch and strategic pact with Abbott Laboratories. The consolidated net profit has taken a quantum jump of 40.8 per cent and touched to Rs.711 crore from Rs.505 crore in the previous year. Its consolidated net sales moved up by 24.9 per cent to Rs.4,465 crore from Rs.3,574 crore.
The board of directors has recommended higher equity dividend of 125 per cent (Rs.6.25 per share of Rs.5 each) for the year 2010-11 as compared to 100 per cent in the previous year.. The earning per share worked out to Rs.34.73 as against Rs.24.67 in the last year.
The company's formulation exports was buoyed by 44 per cent growth in sales in the US market and 24 per cent growth in the emerging markets. It launched 11 new products, including four Day-1 launches. In the French market, it launched over 20 new products and line extensions including four Day-1 launches. In Spain, it currently ranks amongst the top 20 generics companies. It also launched 3 in-licensed products in Japan, including Day-1 launches of Glimeperide and Rabeprpazole.
In India, Cadila launched 60 new products including line extensions, of which 21 product were for first-in-India. The mos notable amongst them being VaxilFlu-S, India's first H1N1 vaccine.
The company's joint venture Zydus Nycomed, has commissioned its newly expanded API manufacturing facility at Navi Mumbai. The facility marks the transition of Zydus Nycomed from an intermediate manufacturer to a full-fledged API manufacturer. The plant earlier provided high quality Key Starting Materials for manufacturing Pantoprazole.
Its another 50:50 joint venture, Zydus Hospira, commenced manufacturing and supply of oncology injectibles for the US market during the year. This included Docetaxel which was launched in March 2011.
The company also set up 50:50 joint venture with Bayer HealthCare to set up Bayer Zydus Pharma for the sales and marketing of pharmaceutical products in India. Bayer Zydus Pharma will operate in key segments of the Indian pharmaceuticals market with a focus on women's healthcare, metabolic disorders, diagnostic imaging, cardiovascular diseases, anti-diabetic treatments and oncology.
The company has a portfolio of 12 candidates at various stages of development under its R&D activities. It received US FDA permission for conducting phase I clinical trials of ZYGK1, a novel glueokinase activator and IND ZYD1, a novel GLP-1 agonist for treating diabetes. Its SYOGI has completed phase-1 clinical trials and has shown favourable results. The company completed clinical trials of biosimilar versions of Teriparatide and PEG-1FNa-2b. Cadila also commissioned a vaccine technology center near Ahmedabad,which would develop several bacterial, viral and biotech based vaccines.
Cadila filed 24 ANDAs, taking total to 130 ANDA filings. It also filed 7 DMFs, taking the cumulative number to 97 DMFs. The company received 11 ANDA approvals during 2010-11 taking the total to 65 product approvals. It filed 26 additional dossiers for new products in the European markets, taking cumulative number of new product dossier filings to 116. It filed 5 dossiers in Brazil taking cumulative number of dossier filings to 64.
Cadila Healthcare Ltd has appointed Nitin R Desai as an additional director. He is a non-executive and independent director on the board w.e.f. May 06, 2011.