Cadila Healthcare has reported strong growth in financial operation during the second quarter ended September 2009 on account of significant growth in global formulations business. Its consolidated net profit 39 per cent to Rs 131.92 crore from Rs 94.88 crore in the corresponding period of last year. The consolidated net sales increased by 23.7 per cent to Rs 912.58 crore from Rs 737.85 crore. With improvement in profits its EPS moved up to Rs 9.66 from Rs 6.95 in the last period.

During the quarter, the company’s revenues were buoyed by 46 per cent growth in the global formulations business driven by 101 per cent y-y growth in the US business. The wellness business posted a growth of 37 per cent and the API exports registered a robust growth of 44 per cent in the same period.

Domestic formulations business posted a growth of 10 per cent with the launch of 14 new products, including line extensions, of which three products - Nucoxia MR 8 in the pain management segment, Pazubid 300 in the anti-infectives segment and Venz OD in the CNS segment, were the first to be launched in India.

Making rapid strides in its research programme, the company’s collaborative research programme with Karo Bio generated a series of novel dissociated non-steroidal glucocorticoid agonist lead compounds. Among other key research milestones reached during the quarter, the group commenced the phase-III clinical trials for ZYH1, the lead molecule for dyslipidemia, and also filed the US IND for ZYD1, a novel candidate in the class of anti-diabetic agents.

Strengthening its regulatory pipeline the company, during the quarter, filed 3 DMFs with the US FDA, taking the cumulative filings to 82 DMFs. The company also filed two ANDAs and received 2 approvals, taking the cumulative number of filings to 95 and the total number of approvals to 50. Additionally, in the same period, the company filed 4 new product dossiers for the EU market, taking the cumulative filings to 60. The company has so far received 32 approvals for the EU market.

For the first half ended September 2009, Cadila’s consolidated net sales increased by 25.9 per cent to Rs 1793 crore from Rs 1424 crore in the similar period of last year. Its net profit reached at Rs 256.71 crore from Rs 184.55 crore, a growth of 38.8 per cent.